Employers that self-insured any group health plans in 2018, including health reimbursement arrangements (HRAs), are responsible for determining whether the annual PCORI fee applies to their plan. If so, use Form 720 to calculate, report, and pay the fee by July 31, 2019. PCORI stands for the Patient-Centered Outcomes Research Institute. Federal law imposes a small annual fee on most health plans that include medical benefits in order to raise…
In a world of insurance and acronyms, the term “HRA” is thrown around a lot, but it has a variety of meanings. HRA can mean health reimbursement account, heath reimbursement arrangement, or health risk assessment, and all of those mean something different. I want to be clear that in the following article I am going to be discussing the use of health reimbursement accounts with…
This week, the U.S. Senate passed the 21st Century Cures Act which includes a provision allowing small businesses to offer a new type of health reimbursement arrangement for their employees’ health care expenses, including individual insurance premiums. The act was previously passed by the House and President Obama is expected to sign it shortly. The provision for Qualified Small Employer Health Reimbursement Arrangements (QSEHRAs), a…
Historically, employers have utilized health risk assessments (HRAs) as one measurement tool in wellness program design. The main goals of an HRA are to assess individual health status and risk and provide feedback to participants on how to manage risk. Employers have traditionally relied on this type of assessment to evaluate the overall health risk of their population in order to develop appropriate wellness strategies….
Guidance on released details from the IRS on permissible HRAs, clarification on minimum essential, minimum value and affordable coverage, and payment of individual premiums through an employer-provided plan.
By July 31, 2013, most issuers of health insurance policies and plan sponsors of self-insured health plans must pay a fee of $1 per covered life as a result of new provisions in PPACA
Study reveals the increase in HSAs and HRAs combined with CDHPs
Read why CDHP’s are falling and how they could perform better.
How PPO’s Still Dominate Market and Cost Employers Less than CDHPs on Average
The federal government continues to pump out benefits related guidance. Stay informed!