Sunday, March 30, 2014

ACA Transition Relief/Delay Extended…Maybe

On March 5, 2014, the White House announced a two-year extension to the previously announced one-year transition relief allowing individual and small group insured members to “keep the plans they liked”. In other words, delay the implementation of several Affordable Care Act (ACA) provisions for another two years. This extension is subject to the same stipulation affecting the initial one year delay announced on 11/14/13, which is that both insurers and States must allow and approve of the relief/delay.
IMPORTANT: On March 24, 2014, Bruce R. Jamge, CPCU, CIE, Nebraska;s Director of Insurance, issued a notice which indicated, in part – “…

Wednesday, March 19, 2014

ACA Tampering…The New Jenga!

Anyone that has ever played the game Jenga or any other stacking game appreciates the challenge, if not the risk, associated with removing individual pieces of a constructed mass. If just a single piece is yanked out of the construct, the entire design crashes down, leaving a mess of pieces, and nothing resembling the original design. Approaching its 4th anniversary, the Affordable Care Act (ACA), or Obamacare, is gradually turning into a great big game of Jenga! Ironically, a law that was passed on a 100% partisan, party-line basis is now being attacked directly and indirectly, from both sides of the aisle, democrat and republican alike.

Wednesday, March 12, 2014

ACA EMPLOYER Reporting Requirements

Last week (March 5, 2014), the IRS and the Department of Treasury (DOT) released FINAL rules related to some very important Affordable Care Act (ACA) requirements addressing health insurance plan reporting. These reporting requirements (originally set to take effect at the end of this year, but delayed one year along with the employer mandate) affect employers with 50 or more full-time employees (including full-time equivalents) starting in early 2016 for plans in force during the 2015 calendar year (regardless of anniversary or ERISA plan date). Reporting is voluntary for 2014/2015, although it might not be a bad idea to consider a “dry run” in preparation for the 2016 requirement.

Wednesday, March 5, 2014

ACA’s Cadillac Tax

Ordinarily, this blog addresses current events in the health insurance and health care spaces. But this week I’m making an exception and informing about a provision of the Affordable Care Act (ACA) that is not set to take effect until 2018. Many of the clients, colleagues, friends and audiences I encounter are talking (if not worrying) about the so called Cadillac tax…now!
Accordingly, this week;s post is meant to provide some background on this provision, if not for those merely worrying about it, but for those that are long term planners. Please keep in mind that final regulations addressing the Cadillac tax have not been released to date. Here is what we know…