All About Medical Savings Accounts | PA Employee Benefit Advisors

Taking control of health care expenses is on the top of most people’s to-do list for 2018.  The average premium increase for 2018 is 18% for Affordable Care Act (ACA) plans.  So, how do you save money on health care when the costs seems to keep increasing faster than wage increases?  One way is through … Continued

IRS Updates Guidance on Play-or-Pay Penalty Assessments | PA Employee Benefits

Beginning in 2015, to comply with the Patient Protection and Affordable Care Act (ACA), “large” employers must offer their full-time employees health coverage, or pay one of two employer shared responsibility / play-or-pay penalties. The Internal Revenue Service (IRS) determines the penalty each calendar year after employees have filed their federal tax returns.In November 2017, … Continued

Top 3 Frequently Asked Questions about Qualified Small Employer Health Reimbursement Arrangements | PA Benefit Advisors

On December 13, 2016, President Obama signed the 21st Century Cures Act (Cures Act) into law. The Cures Act provides a method for certain small employers to reimburse individual health coverage premiums up to a dollar limit through HRAs called “Qualified Small Employer Health Reimbursement Arrangements” (QSE HRAs). The provision went into effect on January 1, 2017. On October … Continued

Latest IRS ACA Round Up (Including 2018 Cost-of-Living Adjustments) | PA Benefit Advisors

Recently, the Internal Revenue Service (IRS) issued the instructions for Forms 1094/1095 for the 2017 tax year, announced PCORI fees for 2017-18, and announced cost-of-living adjustments for 2018. The IRS provided additional guidance on leave-based donation programs’ tax treatment and released an information letter on COBRA and Medicare. Here’s a recap of these actions for … Continued

October 2017 Executive Order on Healthcare | PA Benefit Advisors

On October 12, 2017, the White House released an Executive Order, signed by President Trump, titled “Promoting Healthcare Choice and Competition Across the United States.”It is important to note that the Executive Order (EO) does not implement any new laws or regulations, but instead directs various federal agencies to explore options relating to association health … Continued

New Exemptions from ACA’s Contraceptive Coverage Mandate | PA Benefit Advisors

On October 6, 2017, the Departments of Health and Human Services (HHS), Labor (DOL), and Treasury released new interim final rules to allow more employers to exclude contraceptive coverage from their group health plans. The new rules will be published in the Federal Register next Friday and take effect immediately. Read the Moral Exemptions and … Continued

IRS Releases Final 2017 ACA Reporting Forms and Instructions | PA Benefit Advisors

The IRS has finalized the forms and instructions that employers will use for 2017 reporting under the Affordable Care Act (ACA).Applicable large employers (ALEs) will use the following:2017 Form 1094-C (transmittal to IRS).2017 Form 1095-C (statement to individual).2017 Instructions for Forms 1094-C and 1095-C (instructions).Employers that self-fund a minimum essential coverage plan will use the … Continued

 

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