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NEWS

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Apr 01
2015

April 01 2015
Agencies Plan to Issue Summary of Benefits and Coverage Final Rules
On March 31, 2015, the Departments issued an FAQ announcing their intention to issue final regulations on the SBC requirement in the near future, which are expected to apply for plan years beginning on or after Jan. 1, 2016. However, the new template, instructions and uniform glossary are not expected to be finalized until January 2016. This Health Care Reform Bulletin provides an overview of the Departments' FAQ guidance
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Feb 15
2015

February 15 2015
IRS Releases Final Forms and Instructions for ACA Reporting
On Feb. 8, 2015, the IRS released final versions of Forms 1094-B, 1095-B, 1094-C and 1095-C (and related instructions), which employers will use to report under Sections 6055 and 6056. This Health Care Reform Bulletin provides an overview of the final forms and instructions. These forms are not required to be filed for 2014, but reporting entities may voluntarily file them in 2015 for 2014 coverage. 2015 forms and instructions have not yet been released and may contain some changes.
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Nov 15
2014

November 15 2014
Health Care Reform: Paying Premiums for Individual Health Insurance Policies Prohibited
This Legislative Brief outlines how employers have traditionally paid for employees' individual policy premiums on a tax-free basis, and summarizes how the Affordable Care Act affects these arrangements starting in 2014. It has been updated for IRS Information Letters issued to clarify the ACA's impact on tax treatment of the reimbursement for employee medical expenses under Code Sections 105 and 106.
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Jun 10
2014

June 10 2014
Top five ACA questions and answers for employers to consider
1. Which employers are subject to "pay or play? 2. Are employers with fewer than 50 full-time employees subject to "pay or play"? 3. How does an employer know whether the coverage offered is affordable? 4. How does an employer know if the coverage offered provides minimum value? 5. How does an employer identify its full-time employees for purposes of "pay or play"?
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Jun 10
2014

June 10 2014
Updated COBRA and CHIP Notices
The U.S. Department of labor has updated its model general notice of COBRA rights, model COBRA election notice, and model CHIP notice to reflect that coverage is now available in the Health Insurance Marketplace (also know as the Exchange). These updated notices are generated and sent out for IBI customers.
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Mar 07
2014

March 07 2014
Employer Reporting Rules Released
Who must report to whom, what information must be reported, simplified rules, and when are the first reports due? Final rules released on reporting health insurance coverage by large employers and reporting minimum essential coverage by insurers and employers of self-insured plans.
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Feb 13
2014

February 13 2014
Updated Employer Mandate Regulations Issued
On February 10, 2014 the Treasury Department issued updated regulations on the employer shared responsibility provisions or "employer mandate".
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Oct 23
2013

October 23 2013
Healthcare.gov and Employers? November 13, 2013 Seminar
Do you and your employees have unanswered questions? The mandatory requirement to send out the October 1, 2013 employee notice titled, "New Health Insurance Marketplace Coverage Options and Your Health Coverage" to ALL employees, has triggered many questions. Intermountain Business Insurance is providing a FREE one hour seminar to explain the impact on employers and address questions:
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Jul 03
2013

July 03 2013
Large Employer Penalty Delayed for One Year
The U.S. Treasury Department has announced that it will delay enforcement of the "pay or play" requirements for one year. As a result, any penalties (also known as employer shared responsibility payments) will not apply until 2015. The requirements were originally to become effective on January 1, 2014.
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Jun 07
2013

June 07 2013
Additional Guidance for PCORI Fees Due July 31, 2013
Effective for plan years ending on or after October 1, 2012, and before October 1, 2019, plan sponsors of self-insured plans including some HRA's, and health insurance issuers are responsible for new fees to fund the Patient-Centered Outcomes Research Institute (PCORI). Fees are due no later than July 31 of the year following the last day of the policy or plan year. Special Update: The IRS has revised Form 720, Quarterly Federal Excise Tax Return, for employers sponsoring HRAs and other self-insured health plans to report and pay the new PCORI fees.
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