Health Plans Social Security Number (SSN) Outreach
Posted 08.17.15
Under the Affordable Care Act (ACA) mandatory information reporting requirements, sponsors of self-funded plans are required to provide 2015 eligibility and coverage information about employees and dependents on Forms 1094 and 1095 B or C, and must include SSNs if…
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Cadillac Tax Notice and Updates
Posted 08.11.15
For taxable years beginning in 2018, the Affordable Care Act (ACA) imposes a 40 percent excise tax on high-cost group health coverage. This tax is also known as the “Cadillac tax." On July 30, 2015, the Internal Revenue Service (IRS)…
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Cigna Social Security Number Outreach Begins in August
Posted 07.30.15
Minimum Essential Coverage (IRS Code 6055) reporting is required by the Affordable Care Act (ACA) to help the Internal Revenue Service (IRS) administer compliance with the individual mandate. Health insurance carriers are responsible for reporting on covered individuals under their…
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Transitional Reinsurance Fees
Posted 07.29.15
The transitional reinsurance program is intended to help stabilize premiums for coverage in the individual market during the first three years of Exchange operation (2014, 2015 and 2016). The fees apply to plans that provide major medical coverage. This program…
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2015-2016 Flu Season
Posted 07.29.15
While many believe the flu to be a relatively minor illness, the Centers for Disease Control (CDC) reports tens of thousands of people are hospitalized and thousands die from flu-related illnesses each year in the United States. The flu costs…
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The Standard Acquired By Meiji Yasuda
Posted 07.28.15
Meiji Yasuda Life Insurance Company (“Meiji Yasuda”) and StanCorp Financial Group, Inc. (NYSE: SFG) announced on July 23, 2015 that they have entered into a definitive agreement under which Meiji Yasuda will acquire all outstanding shares of StanCorp (or “The…
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Anthem Announces Agreement to Acquire Cigna
Posted 07.24.15
Anthem Blue Cross and Blue Shield's parent company announced that it has entered into a definitive agreement with Cigna Corporation, under which Anthem's parent company will acquire Cigna in a cash and stock transaction. “We are very pleased to announce…
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DOL Clarifies Independent Contractor Classification
Posted 07.23.15
On July 15, 2015, the U.S. Department of Labor (DOL) issued an administrative interpretation to clarify how to determine whether a worker is an employee or an independent contractor. An increasing number of U.S. workplaces are restructuring their business organizations,…
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Paid Time Off Benefits Survey Results
Posted 07.16.15
Although not all employers are legally obligated to provide paid vacation, it has become a common business practice to do so. In addition, some states now have laws that mandate certain types of paid time off, such as sick time.…
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Penalties Increased for Section 6055 and Section 6056 Reporting Violations
Posted 07.14.15
The Affordable Care Act (ACA) created new reporting requirements under Internal Revenue Code (Code) Section 6055 and 6056. These new reporting rules require Applicable Large Employers (ALE's) and/or self-insured employers to report information to the Internal Revenue Service (IRS) on…
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Supreme Court Legalizes Same-Sex Marriage Nationwide
Posted 06.29.15
As reported by the New York Times, on June 26, 2015, in a landmark decision, the Supreme Court ruled 5-4 that the U.S. Constitution guarantees same-sex couples the right to marry. This case, Obergefell v. Hodges, involved challenges to same-sex…
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Affordable Care Act Subsidies Upheld by the Supreme Court
Posted 06.25.15
As reported by CNN, the Supreme Court upheld a key provision of the Affordable Care Act (ACA) in stating that government subsidies toward the cost of individual health insurance should be available not only in states that have set up…
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