On Friday, October 31, 2014, the Department of Health and Human Services (HHS) quietly updated its Health Plan Identifier information page to delay the requirement that insurance carriers and self-funded health plans obtain a health plan identifier (HPID). The delay is in effect until further notice. Plans that have already obtained their HPID do not […]
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Self-Funded Plans Must File Transitional Reinsurance Program Form By November 15
The transitional reinsurance fee (TRF) applies to fully insured and self-funded major medical plans for 2014, 2015, and 2016. The purpose of the fee is to provide funds to help stabilize premiums in the individual insurance market in view of uncertainty about how the Patient Protection and Affordable Care Act (PPACA) would affect claims experience. […]
Read moreDeadline Approaching for Larger Self-Funded Health Plans To Obtain a Health Plan Identifier Number
Due by November 5, 2014 for Self-funded plans that have more than $5 million in claims in the prior year To meet federal requirements, large health plans must obtain a national health plan identifier number (HPID) by November 5, 2014. For this requirement, a large health plan is one with more than $5 million in […]
Read moreCompliance Recap // September 2014
In the past few weeks, the regulatory agencies have issued details on a number of items of interest to sponsors of group health plans. Reporting Requirements In order for the Internal Revenue Service (IRS) to verify that individuals have the required minimum essential coverage, that individuals who request premium tax credits are entitled to them, […]
Read moreDeadline Approaching for Larger Self-Funded Health Plans To Obtain a Health Plan Identifier Number
Updated September 2014 To meet federal requirements, large health plans must obtain a national health plan identifier number (HPID) by November 5, 2014. For this requirement, a large health plan is one with more than $5 million in annual receipts. The Department of Health and Human Services (HHS) has said that since health plans do […]
Read moreIRS Allows Additional Section 125 Change in Status Events
On September 18, 2014, the Internal Revenue Service (IRS) issued Notice 2014-55 which allows employers to amend their Section 125 plans to recognize several new change in status events. Open Enrollment in the Health Insurance Marketplace Prior to this new notice, an opportunity to enroll in the health insurance Marketplace (or “exchange”) was not considered […]
Read moreIRS Issues Drafts of Instructions for Employer and Individual Responsibility Reporting Forms
The following is a summary of draft instructions. Some of this information may change when the final forms and instructions are released. In order for the Internal Revenue Service (IRS) to verify that individuals have the required minimum essential coverage, individuals who request premium tax credits are entitled to them, and large employers are meeting […]
Read moreCompliance Recap // August 2014
August 2014 brought a court case that will be of interest to employers that apply significant penalties to those who choose not to participate in wellness programs. The Department of Health and Human Services (HHS) has now provided an additional way for religious organizations that object to covering contraceptives to receive an exemption and has […]
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