Blog Entries - June 2014

2015 HSA & HDHP Limits

Posted on: June 18, 2014 9:00 am
Tags: June 2014, Benefits connection

The IRS has announced the 2015 contribution limits, deductible minimums and out-of-pocket maximums for Health Savings Accounts (HSAs) and high-deductible health plans (HDHPs).

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IRS Releases Revised Form 720 - PCOR Fees

Posted on: June 18, 2014 9:00 am
Tags: June 2014, Benefits connection

The IRS has issued a revised Form 720 and instructions for filing the PCOR (Patient-Centers Outcomes Research) fees by July 31, 2014. Filers will enter covered-lives counts and applicable rates ($1 for plans years ending on or after October 1, 2013) in Part II of Form 720 (line 133) to calculate the amount owed.

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21 Simple Tips For Better Health

Posted on: June 18, 2014 9:00 am
Tags: June 2014, Benefits connection

For those of us who sit down at a desk most of the day, health and well-being aren't always easy to work into our lifestyles. Still, the facts show that we must be proactive about eating well and moving enough during the day in order to avoid weight gain, stress and flagging fitness.

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Carrier Corner: TN

Posted on: June 18, 2014 9:00 am
Tags: June 2014, Benefits connection

Find out what is happening with carriers in TN.

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Carrier Corner: KY, IN and OH

Posted on: June 18, 2014 9:00 am
Tags: June 2014, Benefits connection

Find out what is happening with the carriers in KY, OH and IN.

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What Is The Transitional (Grandmothered) Policy?

Posted on: June 17, 2014 4:00 pm
Tags: June 2014, Benefits connection

In November 2013, the Centers for Medicare & Medicaid Services (CMS) issued a letter to State Insurance Commissioners outlining transitional relief for non-grandfathered health insurance coverage in the individual and small group markets (“Transitional Policy”). The small group market for the Transitional Policy is defined as small employers with fewer than 51 total employees.

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FSA Carryover

Posted on: June 17, 2014 4:00 pm
Tags: June 2014, Benefits connection

On March 28, 2014, the IRS released a memorandum clarifying that a member is disqualified from making contributions to a Health Savings Account (HSA) for the entire year solely as a result of carryover of unused amounts in an Flexible Spending Account (FSA) from the previous year, even if the FSA no longer has available funds.

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What ACA Means For COBRA

Posted on: June 17, 2014 4:00 pm
Tags: June 2014, Benefits connection

In a release dated May 2, 2014, the Department of Labor announced updates to model notices informing workers of their eligibility to continue health care coverage through COBRA.

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Self-funded Plans Required To Obtain Health Plan Identifier (HPID)

Posted on: June 17, 2014 4:00 pm
Tags: June 2014, Benefits connection

The Affordable Care Act included a provision called Administrative Simplification, which broadens existing requirements under the Health Insurance Portability and Accountability Act (HIPAA) of 1996. Administrative Simplification sets standards and operating rules for how insurance issuers and other covered entities interact with providers, particularly regarding electronic transactions of information.  The goal of these requirements is to ultimately reduce costs by streamlining transactions and making existing standards work more efficiently.

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New Law Repeals Health Care Reform's Annual Deductible Cap

Posted on: June 17, 2014 4:00 pm
Tags: June 2014, Benefits connection

Congress has passed, and the President has signed, the Protecting Access to Medicare Act of 2014 to postpone changes to the formula used to determine the amounts Medicare pays physicians for services.

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