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FSA Rollover

With all of the changes in health insurance and the discussion of the ACA, it is hard to track what will be happening next.  One item related to flexible spending accounts (FSAs) may have gotten lost in the noise.  Late in October, the White House issued an informational fact sheet that sets out a significant change with FSAs. The “use-it-or-lose-it” nature of contributions has been modified by Treasury to allow a limited rollover of unused funds:

  • as of this time, employers with plans that lack a grace period may elect to allow participants to roll over up to $500 of unused funds at the end of the 2013 plan year; and
  • beginning plan year 2014, employers may allow participants to roll over up to $500 of unused funds at the end of the plan year.
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Federal Court Rules Contraceptive Mandate in ACA Violates Law for Two Companies

btn-ppacaSeveral media outlets are reporting the decision by the Seventh Circuit Court of Appeals this week finding that the requirement in the Affordable Care Act that group healthcare plans must cover contraceptives violates the Religious Freedom Restoration Act.  This opinion does not strike down the requirement in all applications.  The two companies who are parties to the case are closely held entities with Catholic owners.  The 2-1 decision blocks the contraceptive mandate for those two companies.

ACA Notices and Open Enrollment, October 1

btn-ppacaToday marks the beginning of open enrollment in the ACA Health Insurance Exchanges.  Also, employer notices with information about the Exchanges must go out today.  Forms are available for employers to use.

The White House has an interactive map and information available to the public about the Exchanges. Click here to see the website:  State-by-State Monthly Marketplace Premiums

ACA Update as October Approaches

btn-ppacaThe deadline of October 1 for employer ACA notices is almost upon us. October 1 is also the date that the ACA Health Insurance Marketplace will become operational. Open enrollment begins October 1 with coverage starting January 1, 2014.

As that happens, more information is being made available.  The federal government–calling the Exchanges a simple and affordable way to get insurance coverage under the ACA–is promoting the system through several sources.

According to a White House release, “A new report shows that the Marketplace will give uninsured Americans access to affordable health insurance — and finds that average premiums are even lower than experts initially projected. For instance:

  • A working family making $50,000 a year can get health insurance for less than $100/month.
  • A 27 year-old making $25,000 a year could get coverage for an average of $93 a month.”

Expanded Scope for New HIPAA Rules

HIPAASeptember 23, 2013.  Today is the day that many of those who use protected health information (PHI) must comply with new Health Insurance Portability and Accountability Act (HIPAA) Privacy and Security Rules, which went into effect 180 days ago.

If you use PHI in your work, hopefully by now you are aware of those changes. For the first time, Privacy and Security rules apply not only to covered entities and business associates, but also to subcontractors who provide services to those business associates. This includes the security breach notification requirements when PHI is compromised.

An HHS press release earlier this year noted, “Some of the largest breaches reported to HHS have involved business associates.”  With the expanded scope of the rules, look for more enforcement actions in the future.

Affordable Care Act (ACA) Tax Provisions Outlined

PPACASo you’ve got questions about what you need to be doing with the Affordable Care Act and how it impacts your business?  You aren’t the only one.

The IRS has an on-line resource with links that outline key tax issues facing small employers (those with fewer than 50 employees) and large employers (those with 50 or more employees).

The site is available by clicking here:  http://www.irs.gov/uac/Affordable-Care-Act-Tax-Provisions-for-Employers.

Affordable Care Act (ACA) Notices Required by October 1

PPACABy October 1, 2013, employers must provide a written “Exchange Notice” under the Affordable Care Act (ACA) to employees. The employer must give this to all current and new full-time and part-time employees and seasonal employees. This notice is required even if you provide health insurance.

The notice tells employees of the option to purchase health insurance coverage through an insurance exchange. The notice also outlines benefits and consequences of choosing that coverage.

The U.S. Department of Labor has guidance for contents of the notice, which as a threshold, must include the following:

  • The contact information of the health exchange available in the state;
  • The services provided by the exchange available in the state; and
  • Possible eligibility for premium tax credits or cost sharing reductions when health coverage is purchased on the exchange.