Archive for Compliance News’ Category

IRS Proposes New Section 6055 Reporting Requirements for Self-Insured Employers
Sep

8

2016

IRS Proposes New Section 6055 Reporting Requirements for Self-Insured Employers

Employers with self-insured health plans are facing new Section 6055 regulations regarding the reporting of minimum essential coverage. The proposed regulation requires self-insured employers to report this information to the IRS on either Form 1095-B or in Part III of Form 1095-C, if the coverage is provided by an applicable large employer. Section 6055 reporting identifies those individuals who are enrolled in minimum essential coverage. In…

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Initial 2016 Health Plan Survey Results Are Out: PPO Deductibles Increase Fifty Percent, Employer Costs Remain Steady
Aug

24

2016

Initial 2016 Health Plan Survey Results Are Out: PPO Deductibles Increase Fifty Percent, Employer Costs Remain Steady

The 2016 UBA Health Plan Survey contains the validated responses of 19,557 health plans and 11,524 employers, who cumulatively employ over two and a half million employees and insure more than five million total lives. Of the preliminary findings, we see that employees continue to take on more cost for coverage. The median in-network deductible on an employer-sponsored PPO health plan (which nearly half of…

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Aug

19

2016

Flow Chart of Key Wellness Program Regulations

  A wellness program is any formal or informal program that educates employees about health-related issues, promotes following healthy lifestyles, or encourages employees to make healthier choices. Wellness programs vary greatly and are not always called wellness programs. Some are purely educational and have no financial incentives. Others have financial incentives that may take the form of reductions in the employee’s contribution for medical coverage,…

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Aug

10

2016

Compliance Recap

July 2016 During the month of July numerous new regulations were issued or proposed by federal agencies, and existing forms and processes were updated. In particular, penalties for various ERISA violations were increased, a major overhaul to Form 5500 filings was proposed, and draft 1095-C and 1094-C forms were released. Proposed regulations were also released relating to the individual mandate and opt-out arrangements. UBA Updates…

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It’s not that simple!
Aug

9

2016

It’s not that simple!

By Mathew Augustine, GPHR, REBC, CEO of Hanna Global Solutions, a UBA Partner Firm Exit or remain, welcome refugees or build a wall to keep them out, guns or no guns, black or white, include all or be exclusive… the list of extreme positions that people are taking goes on and on. What is driving this sudden increase in polarized thinking in the world? The…

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OSHA’s Final Rule on Electronic Tracking of Workplace Injuries and Illnesses
Jun

14

2016

OSHA’s Final Rule on Electronic Tracking of Workplace Injuries and Illnesses

Beginning in 2017, certain employers with as few as 20 employees at a single site will be required to electronically file information about employee injuries and accidents that occurred in the prior year. This means that, for many of your clients, injuries and illnesses occurring in 2016 will be subject to this change. Employers of as few as one employee have always been required, under…

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May

26

2016

Don’t Ignore the CMS Data Match Questionnaire Letters

Originally from United Benefit Advisors. Beginning in early 2016, many employers received letters from the IRS-SSA-CMS Data Match program. These letters are addressed to the employer and begin by stating that “Medicare needs your cooperation.” Employers are directed to report information on the IRS/SSA/CMS Data Match Secure Web Site (https://www.cob.cms.hhs.gov/DataMatch/). The data being requested is often extensive, and can cover a number of years. The…

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May

23

2016

In Case You Missed It: Final Rule on Nondiscrimination Regulations Released

Originally posted by United Benefit Advisors. On May 13, 2016, the Department of Health and Human Services (HHS) issued a final rule implementing Section 1557 of the Patient Protection and Affordable Care Act (ACA), which will take effect on July 18, 2016. If entities need to make changes to health insurance or group health plan benefit design as a result of this final rule, such…

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