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Archive for March, 2015

Final Rule Issues Standards for Insurers and Marketplaces in 2016 | New York Employee Benefits

March 31st, 2015   |   by admin   |   in Industry News

By Linda Rowings, Chief Compliance Officer at United Benefit Advisors Recently, the Centers for Medicare and Medicaid Services and the Department of Health and Human Services issued a Final Rule with standards for insurers and Marketplaces in 2016, covering topics such as transparency in health insurance rate increases, formulary drug lists, drug mail order opt […]

Survey: Employer Contributions to HSAs Decreasing | Brio Benefits

March 26th, 2015   |   by admin   |   in General News

Posted by: Bill Olson Ā  United Benefit Advisors Health Plan Survey Finds Higher HSA Contributions Correlates to Increased Enrollment in High Deductible Health Plans In 2014, employees saw a 10 percent decrease in their average single Health Savings Account (HSA) employer contribution from the previous year, from $574 in 2013 to $515 in 2014, according […]

Growing Pains: Why Adolescence Is About To Get That Much Harder | New York Employee Benefits

March 24th, 2015   |   by admin   |   in General News

By Elizabeth Kay, Compliance & Retention Analyst, AEIS Advisors Employers that are growing up, and are in the awkward teenage years, are about to get a big surprise, and not the good kind. When a company first opens, they are excited when they first implement their benefit plans for their handful of employees. They offer […]

IRS Provides Details on Reimbursing Premiums for Individual Health Coverage or Medicare Part B, Part D, or Medigap for Active Employees | New York Benefits Broker

March 19th, 2015   |   by admin   |   in IRS

By Linda Rowings, Chief Compliance Officer at United Benefit Advisors On February 18, 2015, the Internal Revenue Service (IRS) issued Notice 2015-17. This Notice addresses employer payment or reimbursement of individual premiums in light of the requirements of the Patient Protection and Affordable Care Act (PPACA). For many years, employers were permitted to reimburse premiums […]

Agencies Provide Guidance on Single Benefit Products and Excepted Benefits | New York Employee Benefits

March 16th, 2015   |   by admin   |   in General News

By Linda Rowings, Chief Compliance Officer at United Benefit Advisors On February 13, 2015, the regulatory agencies issued an FAQ on whether supplemental health insurance coverage that provides additional categories of benefits may qualify as supplemental excepted benefits. Many provisions of PPACA do not apply to excepted health benefits. Supplemental excepted benefits are those that […]

IRS Requests Input on the Cadillac Tax | NY Health Insurance Broker

March 12th, 2015   |   by admin   |   in IRS

By Linda Rowings, Chief Compliance Officer at United Benefit Advisors Beginning in 2018, plans that provide coverage that exceeds a threshold will owe an excise tax that is frequently referred to as the ā€œCadillac tax.ā€ The threshold generally will be $10,200 for single benefits and $27,500 for benefits provided to an employee, retiree, or member […]

Think 2014 tax forms are bad? Here come the 1094 and 1095 for 2015! | Brio Benefits

March 10th, 2015   |   by admin   |   in Industry News

By Bill Olson, Chief Marketing Officer at United Benefit Advisors Our recent blog reviewed the highlights of the new employer and insurer reporting requirements. UBA has created this quick reference chart to help you sort out who should use which form, and when: For comprehensive information on coverage requirements, due dates, special circumstances, controlled groups […]

The RFP vs. the Two Step Process ā€” Choosing Group Health Insurance | New York Employee Benefits

March 6th, 2015   |   by admin   |   in Health Insurance

By Terry Allard, CEBS, Sr. Benefits Advisor at The Wilson Agency Many employers look at employee benefits as a commodity, bidding out their plans annually — and who can blame them? Rising health care costs coupled with a challenging economic environment have forced many human resources decision-makers to focus heavily on cost.   Organizations of […]

Wellness Programs Feeling the Heat as the EEOC Increases Its Efforts – Part 2, Federal Regulations | NYC Employee Benefits

March 3rd, 2015   |   by admin   |   in Industry News

As mentioned in the first posting, wellness programs must be analyzed under a myriad of laws and regulations. This post will discuss generally the wellness program landscape in light of the Americans with Disabilities Act (ADA)/Americans with Disabilities Act Amendments Act (ADAAA), the Genetic Information Non-Discrimination Act (GINA), the Patient Protection and Affordable Care Act […]