Background: Historically, employers that wanted their employees to be protected with health coverage, but didn't want the hassle of having a company health plan, could simply give them an amount of money sufficient to reimburse them for the cost of buying that coverage or some portion of it. As long as the individuals provided
Does your company's health insurance plan include health reimbursement arrangements (HRAs) or flexible spending accounts (FSAs)? If so, you should know these plan components are both subject to the Affordable Care Act (ACA) and its "market reform" provisions. The Department of Labor and other principal agencies have issued another round of guidance1 to answer some
Large employers have self-insured their health benefits for decades. In fact, 93 percent of employers with at least 5,000 employees were self-insured in 2012, according to a Kaiser Foundation survey. Compare this with just 15 percent of self-insured employers having fewer than 200 workers. If the survey was taken today, the 15 percent figure would likely
New research has shed light on the current state of affairs in the HSA world. As noted, the pace of HSA formation has picked up. A survey by the industry group "America's Health Insurance Plans" (AHIP) found 28 percent of the nearly 400,000 HSAs in existence at the end of 2012 were established that same year.
Note: This is a summary of the complete newsletter article. Educate Employees About True Cost It is no surprise that health care in America is rapidly changing. With insurance premiums increasing by leaps and bounds, employers and health care organizations are looking for innovative ways to reduce, or at least stabilize, costs. Most experts agree that
Treasury Rules on ACA Reporting The Treasury Department issued a new, consolidated form that streamlines certain self-insured employers' reporting requirements under the Affordable Care Act (ACA) starting in 2015. Impacts 4% of Employers A March 5, 2014 fact sheet from the Treasury and IRS states that: "While 96 percent of employers are not subject to
Affordable Care Act Q&A At this point, most employers understand the basics of the Affordable Care Act (ACA) but they may still have questions about many of its details. The IRS recently issued a series of Q&As to help answer some specifics. Here are a few of the 11 selected questions from the IRS, along