Healthcare Reform | Bestefits

If you are paying employees for individual medical insurance premiums, whether through an HRA or direct, it is extremely important that you STOP and read this notice!

Compliance Healthcare Reform Individual Insurance Large Employers Small Employers

Employers that reimburse employees, whether pre- or post-tax, for individual medical insurance through an HRA or direct payment, please be aware that the IRS has posted several notices indicating that this is not an allowed strategy! In general terms, the IRS is granting reprieve for a number of employers through June 30, 2015 to make…

April 17, 2015

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If you have or will have 50 – 99 employees in the near future, don’t skip this portion of the newsletter!

Compliance Healthcare Reform Large Employers Small Employers

Most employers with 50 – 99 employees have become accustomed to ‘composite rating’. This means, there is generally an EE Only, EE+Spouse, EE+Child(ren), EE+Family rate, independent of employee or dependent ages. Be prepared that, very soon, this will no longer be the case and your rates will become more complex. Employers of this size will need…

April 17, 2015

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Health Insurance Tax Repeal: Will it happen?

Healthcare Reform Individual Insurance

Removing all of the inaccurate coverage, charged language and complicated terminology thrown around surrounding this topic, the simple issue is the tax the Patient Protection and Affordable Care Act (PPACA) places on health insurers and who is really paying that cost. To many, taxing insurance companies may have sounded like a great idea. However, bi-partisan…

February 21, 2015

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Bestefits will hold a ‘State of Health Care Reform’ webcast for small and large employers March 9th

Compliance Healthcare Reform Large Employers Small Employers

Clients and friends of Bestefits will receive a webcast invitation via email for a Health Care Reform presentation that will address the ‘must know’ information for small and large employers. This will include compliance requirements, filing requirements, benefits technology information and software to automate many compliance provisions. This webcast will not be recorded so please…

February 21, 2015

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Employers with 50 or more full-time equivalent employees, begin NOW to make sure you have the information you will need to file Forms 1094-C and 1095-C for large employer PPACA reporting.

Compliance Employee Benefits Healthcare Reform Large Employers

Forms 1094-C and 1095-C will be required of employers with 50 or more full-time equivalent employees. For calendar year 2015, the forms must be filed by February 28, 2016, if paper filing, or March 31, 2016, if filing electronically. Many employers are evaluating software systems now that will track all of the information required for…

February 21, 2015

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Think Health Care Reform only applies to large employers? Think again!: The Cadillac Tax applies to all plans that exceed $10,200 for an individual and $27,500 for a family.

Compliance Healthcare Reform Large Employers Small Employers

Although this tax is set to take place in 2018 and there may be modifications before that time, it is important that employers begin considering its impact now. Many employers are already preparing by making changes to the level of plans they are offering and finding other ways to enhance benefits for employees who will…

February 21, 2015

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Forward Bestefits to Your Friends and Family

About Bestefits Healthcare Reform Individual Insurance

Thank you all for being valued clients of Bestefits. We have enjoyed helping you through your personal coverage decisions based on your health conditions, financial considerations and support needs. Some of you were eligible for significant subsidies to help pay the cost of medical insurance premiums. Getting through the technical and service difficulties of our…

October 23, 2014

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Adding COPPER to the list of medical insurance metal tiers

Healthcare Reform In the News Individual Insurance Small Employers

Most people have become familiar with the 4 medical insurance metal tier plan names, Platinum, Gold, Silver, Bronze. These names are intended to help explain the level of coverage a plan will provide. There have been some rumblings of a new Copper level plan that would have an actuarial value of 50 percent. As such,…

October 23, 2014

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Some individuals will not be required to purchase medical insurance or pay a penalty.

Healthcare Reform In the News Individual Insurance

Certain conditions will exempt some individuals and families from the requirement to purchase medical insurance or face a tax penalty for non-coverage. “Those who are exempt include unauthorized immigrants, people with income low enough that they are not required to file a tax return; people below 138 percent of the federal poverty guidelines; people who…

October 23, 2014

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INDIVIDUAL MEDICAL INSURANCE OPEN ENROLLMENT IS COMING UP SOON! Don’t miss this window to sign up or reevaluate your plan.

Healthcare Reform Individual Insurance

Although being declined for individual medical insurance due to a pre-existing condition is no longer an issue, individuals and families have one period of time during the year to enroll. This is to reduce the likelihood that individuals will enroll only in response to major health events. The individual medical insurance Open Enrollment period is…

October 23, 2014

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Category Archives: Healthcare Reform