The special health care tax credit for individuals and their families receiving trade adjustment assistance (TAA) or receiving payments from the Pension Benefit Guaranty Corporation was reinstated in 2015, retroactive to 2014. It had previously expired in 2013. The Trade Preferences Extension Act of 2015 extended and modified the expired tax credit. This credit providedContinue reading “Trade Adjustment Act Health Tax Credit Hardship Exemption Announced by IRS”
Author Archives: NAHU
“To Fee or Not to Fee” — Considerations and Concerns
Brokers have been buffeted by the myriad changes occurring at record pace over these past few years. The Affordable Care Act (ACA) has had a dramatic impact on the types of health insurance products available, the scope of benefits offered and how brokers are compensated for the valuable services they provide. Many brokers have transformedContinue reading ““To Fee or Not to Fee” — Considerations and Concerns”
Business Associates Beware – A Fine May Find You
HIPAA’s privacy and security requirements have been a part of the health insurance and insurance broker lexicon for many years. Most health insurance brokers have signed at least one – and often multiple – BAAs (Business Associate Agreements) over the course of the years. HIPAA HITECH, enacted into law in 2009 increased the responsibilities forContinue reading “Business Associates Beware – A Fine May Find You”
IRS Publishes 2016 Draft Forms for ACA Reporting
With the first ACA reporting deadlines for employers in the rearview mirror, the IRS has released draft forms for 2016. These drafts, if finalized, will be used when employers file in 2017. The deadlines for reporting of 2016 health coverage are expected to return to the original dates: Deadline to distribute forms to employees andContinue reading “IRS Publishes 2016 Draft Forms for ACA Reporting”
CMS Acts on Documentation for Special Enrollment Periods (SEPs)
In an effort to stabilize the individual insurance marketplaces and improve the risk pool CMS has rolled out a new Special Enrollment Verification process. Individuals who assert that they have qualified for one of five Special Enrollment Periods (SEPs) will be sent a Marketplace Eligibility Determination Notice requesting documentation to support their eligibility for theContinue reading “CMS Acts on Documentation for Special Enrollment Periods (SEPs)”
Data Match Letter Demands Action
NAHU members report that employers are seeing a recent flurry of data match letters. Exactly what is causing this renewed and reinvigorated activity isn’t clear, but employers need to be on the watch for these letters and understand their responsibility to respond to them. What is data match? Data match is a program coordinated byContinue reading “Data Match Letter Demands Action”
Correcting Employer Reporting Errors Needed to Meet Good Faith Compliance Standard
As employers were struggling to complete Forms 1095-C to get them in their employees’ hands by March 31, they had the small comfort that the IRS had announced that employers needed to meet a “good faith compliance” standard to avoid penalties. The expectation was that employers would do their best to comply with this newContinue reading “Correcting Employer Reporting Errors Needed to Meet Good Faith Compliance Standard”
Open Up the Silos for Optimum Compliance
With implementation of the ACA, many brokers and employers have had a laser focus on understanding the requirements necessary to comply with the law. And, rightly so! As such, employers have adopted lookback measurement periods, identified variable hour employees, not to mention a myriad of terms and constructs. Employers who have filed their 1094-C andContinue reading “Open Up the Silos for Optimum Compliance”
Will a HIPAA Audit be in Your Future?
It seems a day doesn’t pass without a news item regarding a data breach of some kind. To that end, HHS’ Office of Civil Rights (OCR) recently announced a new phase in its efforts to audit and assess compliance with the HIPAA Privacy, Security and Breach Notification Rules. Phase 1 of the audit program wasContinue reading “Will a HIPAA Audit be in Your Future?”
Employers Get Your ERISA House in Order
ERISA, the Employer Retirement Income Security Act, was enacted into law in 1974. While the focus of ERISA was retirement plans, the law also imposed requirements on health and welfare plans, including employer-sponsored group health plans. An overview of ERISA’s provisions and requirements is available through the US Department of Labor’s Employment Law Guide. ThisContinue reading “Employers Get Your ERISA House in Order”
Compliance NOW! 