7-31-2015
Employee Benefits & Executive Compensation
The IRS issued a “tax tip” reminding employers that “providers of health coverage” include employers of all sizes that provide self-insured coverage and as a result must file annual returns with the IRS. Self-insured employers with fewer than 50 full-time or full-time equivalent employees in the preceding calendar year should file Form 1095-B, while applicable large employers should report health coverage information on Form 1095-C.
7-24-2015
Employee Benefits & Executive Compensation
The Departments of Health and Human Services, Labor, and the Treasury jointly issued final rules on the coverage of certain recommended preventive services without cost sharing. The Departments focused on securing women’s access to preventive services while respecting the religious beliefs of organizations objecting to the coverage of contraceptive services. As noted in the HHS press release, an alternative pathway is available for such organizations to notify HHS of their objections.
7-10-2015:
Employee Benefits & Executive Compensation
Employers, who sponsored self-funded health plans with plan years ending in 2014, must pay their annual fee to the Patient-Centered Outcomes Research Institute (PCORI) fund by July 31, 2015. For plan years ending after September 2014, the fee is $2.08 multiplied by the average number of lives covered by the plan. For fee amounts for other plan years, please refer to this chart. For guidance on calculating the total fee and the filing requirements, please see the IRS PCORI Page, Form 720, and Instructions.
6-26-2015:
Employee Benefits & Executive Compensation
The IRS, DOL, and HHS have issued final regulations related to the Summary of Benefits and Coverage (SBC), along with a fact sheet and press release summarizing key changes in the regulations. For group health plans, the regulations are generally applicable to open enrollment periods and plan years beginning on or after September 1, 2015. Although the agencies are also updating the SBC template, it will not apply until plan years beginning on or after January 1, 2017.
6-19-2015:
Employee Benefits & Executive Compensation
The terms for 5 out of 15 members of the Advisory Council on Employee Welfare and Pension Benefit Plans expire at the end of 2015. The Department of Labor is accepting nominations to fill these rolls. Available positions include representatives of multiemployer plans, employers, investment consultants, actuarial consultants, and the general public. Nominations are due by July 31, 2015. For additional information, please visit FR Doc 2015-14781 -EB Council Nominations.
6-12-2015
Employee Benefits & Executive Compensation
CMS recently issued medical loss ratio (MLR) technical guidance CCIIO 2015—0001, which addresses: 1) the limited circumstances under which a health insurance issuer may exclude agent and broker fees or commissions from earned premium and guidance, and 2) who is owed MLR rebates when a portion or all of the premium is paid with advance payments of the premium tax credit.
6-5-2015
Employee Benefits & Executive Compensation
The DOL, IRS and HHS have issued additional FAQs regarding the limitations on cost sharing under the Affordable Care Act. The FAQs can be accessed here.
Disclaimer:
These employee benefits “Bytes” are prepared on behalf of the American Bar Association Health Law Section, and are part of a weekly “Health Law Byte” e-mail publication that is available to ABA members. The weekly HL Byte publication includes updates from the other ABA Health Law Interest Groups: •Business & Transactions, •eHealth, Privacy & Security, •Employee Benefits & Executive Compensation, •Healthcare Facility Operations, •In-House Counsel Sub-Interest Group, •Healthcare Fraud & Compliance, •Healthcare Litigation & Risk Management, •Life Sciences, •Managed Care & Insurance, •Payment, & Reimbursement, •Physician Issues, •Public Health & Policy, •Tax & Accounting. If you are interested in this and other ABA Health Section benefits please visit: http://www.americanbar.org/groups/health_law.html