Play or Pay: Is Your Health Plan “Affordable” for 2018? The Affordable Care Act’s employer shared responsibility provision—often called the employer mandate or “play or pay”—requires large employers to offer health coverage to their full-time employees or face a potential penalty. (Employers with fewer than 50 full-time and full-time-equivalent employees are exempt.) Large employers can […]
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September 2017 Compliance Recap
Compliance Recap September 2017 September was a quiet month in the employee benefits world. The Internal Revenue Service (IRS) issued final Forms 1094/1095, special per diem rates for 2017-18, and guidance on the tax treatment of leave-based donation programs. The Centers for Medicare and Medicaid Services (CMS) announced a Medicare special enrollment period for individuals […]
Read morePresident Trump Ends ACA Cost Sharing Reductions
President Trump Ends ACA Cost Sharing Reductions On the evening of October 12, 2017, President Trump announced that cost sharing reductions for low income Americans in relation to the Patient Protection and Affordable Care Act (ACA) would be stopped. The Department of Health and Human Services (HHS) has confirmed that payments will be stopped immediately. […]
Read morePresident Trump Ends ACA Subsidies
President Trump Ends ACA Subsidies On the evening of October 12, 2017, President Trump announced that subsidies for low-income Americans in relation to the Patient Protection and Affordable Care Act (ACA) would be stopped. The Department of Health and Human Services (HHS) has confirmed that payments will be stopped immediately. It is anticipated at least […]
Read moreExecutive Order on Healthcare October 2017
October 2017 Executive Order on Healthcare 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 […]
Read more*IRS Releases FINAL Forms and Instructions for 2017 ACA Reporting*
Under the Patient Protection and Affordable Care Act (ACA), individuals are required to have health insurance while applicable large employers (ALEs) are required to offer health benefits to their full-time employees. Reporting is required by employers with 50 or more full-time (or full-time equivalent) employees, insurers, or sponsors of self-funded health plans, on health coverage […]
Read moreContraception Mandate Rolled Back for Employers
Contraception Mandate Rolled Back for Employers Two tri-agency (Internal Revenue Service, Employee Benefits Security Administration, and Centers for Medicare and Medicaid Services) Interim Final Rules were released and became effective on October 6, 2017, and will be published on October 31, 2017, allowing a greater number of employers to opt out of providing contraception to […]
Read moreOctober Webinar- Registration Closing Soon!
Bim is pleased to extend an invitation to attend our upcoming monthly compliance Webinar. In conjunction with our alliance with United Benefit Advisors, you have the opportunity to learn more about the latest compliance trends and regulations from one of the nation’s leading employment and benefit law firms, Fisher Phillips. Best of all, you can take advantage […]
Read moreIRS Releases Draft Forms and Instructions for 2017 ACA Reporting
Background Under the Patient Protection and Affordable Care Act (ACA), individuals are required to have health insurance while applicable large employers (ALEs) are required to offer health benefits to their full-time employees. Reporting is required by employers with 50 or more full-time (or full-time equivalent) employees, insurers, or sponsors of self-funded health plans, on health […]
Read moreMedicare Part D DEADLINE Reminder
Medicare Part D Reminder DEADLINE The Medicare Part D notice must be distributed by October 15 to all Medicare Part D eligible participants (employees, spouses, dependents, COBRA, etc…). **If you provided participants and new hires with the annual notice packet provided by Benefit Insurance Marketing or generated by HR Service, the Medicare Part D notice […]
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