Be Ready for More ACA Penalties | Employee Benefits Agency

The recent barrage of letters sent by the IRS proposing penalties under the Affordable Care Act (ACA) may be petering out, but a new round is expected later this year. Employers need to be prepared. Several lessons can be learned from the more than 300,000 proposed-penalty letters sent by the IRS this summer and late … Continued

Final Rule on Short-Term Limited-Duration Insurance | Employee Benefits Agency

On August 1, 2018, the Internal Revenue Service, the Department of Health and Human Services (HHS), and the Department of Labor (collectively, the Departments) released a final rule that amends the definition of short-term, limited-duration insurance. HHS also released a fact sheet on the final rule. According to the Departments, the final rule will provide … Continued

6 Reasons Self-Funded Plans Are Gaining Popularity

  Since the ACA was enacted eight years ago, many employers are re-examining employee benefits in an effort to manage costs, navigate changing regulations, and expand their plan options. Self-funded plans are one way that’s happening. In 2017, the UBA Health Plan survey revealed that self-funded plans have increased by 12.8% in the past year … Continued

UBA Update

EXTENSION OF PERIOD FOR FURNISHING WRITTEN QSEHRA NOTICE TO ELIGIBLE EMPLOYEES Under the 21st Century Cures Act, small employers who want to reimburse individual health coverage premiums through HRAs called “Qualified Small Employer Health Reimbursement Arrangements” (QSE HRAs) must provide annual written notice to all eligible employees no later than 90 days before the beginning … Continued

The Most Sought-After Employee Benefits

For small and growing companies, it’s a common dilemma: offer lavish employee benefits and forgo profits, or penny pinch and risk losing your best employees. With escalating healthcare costs and an increasingly mobile workforce, finding the right balance is difficult. You want to provide great benefits, but you cannot afford to waste money on benefits … Continued

2016 Election: Potential Impact on Health Benefits

Following the November 2016 election, Donald Trump (R) will be sworn in as the next President of the United States on January 20, 2017. The Republicans will also have the majority in the Senate (51 Republican, 47 Democrat) and in the House of Representatives (238 Republicans, 191 Democrat). As a result, the political atmosphere is … Continued