HHS Releases Final Interim Guidance on Several PPACA Provisions
HHS Releases Final Interim Guidance on Several PPACA Provisions On June 22, 2010, the Departments of Health & Human Services, Labor, and Treasury issued new regulations that better define the following PPACA provisions: No Pre-Existing Condition Exclusions for Anyone Under Age 19 No Arbitrary Rescissions of Insurance Coverage No Lifetime Dollar Limits on Coverage […]
Group Health Insurance Tax Credit in Indiana
The Internal Revenue Service has released a new summary of tax credits created by recent legislation that impact small businesses, including the new Patient Protection and Affordable Care Act (PPACA) small business health insurance premium tax credit and the federal COBRA subsidies. The new summary Web page consolidates many of the IRS’ tax credit resources […]
Indiana COBRA Subsidy Expires
As of June 1st 2010 the COBRA Subsidy has expired. The program provided individuals who involuntarily lost their employer-sponsored health insurance benefits with a 15-month 65% subsidy of their COBRA health insurance premium. Going forward all new COBRA Eligible people will have to pay the entire premium. All eligible individuals that are still in […]
Simple Cafeteria Plans Changes
A cafeteria plan is an employer-sponsored plan that allows employees to choose certain pre-tax benefits or cash. For example, an employee may choose to pay his or her share of premiums for employer-sponsored health insurance before taxes through the plan. A cafeteria plan must have a written plan document governing the plan and may not […]
Small Group Tax Credit Extends To Dental And Vision Benefits
The small group tax credit, which will benefit millions of small businesses, has just become more attractive. That’s because the IRS has just released new details clarifying that the tax credit also applies to premiums for dental and vision benefits – not just health benefits. And there’s more good news: Eligible companies that already get […]
Healthcare Reform’s “Cadillac Plan” Excise Tax
The excise tax was included in the Patient Protection and Affordable Care Act (PPACA) passed into law on March 23, 2010. The provision levies a 40% nondeductible tax on the annual value of health plan costs for employees that exceed $10,200 for single coverage or $27,500 for family coverage in 2018. Data reveals that the […]
High Risk Pool Insurance Plan
Under the new health care reform laws each state has the option of setting up a high risk pool insurance plan. The state of Indianapolis has declined to participate in this high risk pool. Currently we have a high risk pool called Indianapolis ComprehensiveHealth that will contiune to operate seperatly from additional high risk pools. […]
The Early Retiree Reinsurance Program
The Early Retiree Reinsurance Program helps employers provide coverage to retirees The recently passed Patient Protection and Affordable Care Act includes an early retiree reinsurance program available to groups that provide medical coverage to early retirees and their spouses, surviving spouses and dependents. This temporary program will provide $5 billion to help employers to continue to […]
Mental Health Parity and Addiction Equity Act
The Mental Health Parity and Addiction Equity Act (MHP) is one of several federal health care reform laws that are creating a significant and immediate impact on employers. The new legislation prohibits group health plans that provide mental health and/or substance use disorder benefits from applying ” Regulations issued by the federal government on February […]
Indiana Enrolled Dependents Through Age 26
Recently we have had a handful of national carriers all agree to carry existing dependents through age 26. If the dependent is eligible for the plan you will have to wait until open enrollment. Remember to look at possible individual coverage as it may be significantly cheaper. To clarify, we will automatically extend coverage for […]
