Many provisions of the Affordable Care Act (ACA), such as cost-sharing limits, mandatory no-cost preventive care, and waiting period limitations, apply to all employer-sponsored health plans. However, employers who qualify as an Applicable Large Employer (ALE) have additional obligations that can result in significant penalties if they are not met. The determination of an employer’s […]
The IRS recently announced cost-of-living adjustments to the applicable dollar limits for various employer-sponsored welfare plans for 2024. Some of the dollar limits currently in effect for 2023 will remain the same, but most limits will increase in 2024. Employers should update payroll and plan administration systems for 2024 and incorporate the new limits in […]
The Consolidated Appropriations Act, 2021 (CAA) is intended to promote transparency in health care. One provision of the CAA prohibits “gag clauses” in agreements between health insurers/group health plans and health care providers or other third parties. The ban on gag clauses was effective on December 27, 2020. The CAA also requires health insurers and […]
Earlier this year, the IRS issued final regulations that change the filing requirements for several common employer information returns, including Form W-2, the Form 1099 series, and the Form 1094 and 1095 series. The final rule significantly lowers the threshold for mandatory electronic filing, which will require many filers who currently submit certain tax forms […]
Overview Hospital indemnity or other fixed indemnity insurance provides fixed, cash payments upon the occurrence of a health-related event. Payments under fixed indemnity insurance must be made as a fixed dollar amount per day or per other time period of hospitalization or illness (for example, $100 per day of hospitalization). Benefits are paid regardless of […]
HSA Limits for 2024 IRS Revenue Procedure 2023-23 updated the limits for qualified high deductible health plans (QHDHPs) for plan years beginning in 2024 as well as the 2024 calendar year health savings account (HSA) contribution limits, as set forth below:
As we enter the time of year when employers hire summer interns, questions arise as to whether health coverage should be offered. This issue of the Benefit Minute reviews Affordable Care Act (ACA) requirements that may apply to interns.
This issue provides an update on recent regulatory and judicial activity at both the federal and state level.
This issue provides a recap of some recent regulatory activity.
