On March 9, 2023, the IRS released updated penalty amounts for 2024 related to the employer shared responsibility (pay or play) rules under the Affordable Care Act (ACA). For calendar year 2024, the adjusted $2,000 penalty amount is $2,970 … Continue reading
Category Archives: Government
New FAQs on ACA’s Cost-sharing Limit and No Surprises Act
On July 7, 2023, the Departments of Labor, Health and Human Services, and the Treasury (Departments) issued frequently asked questions (FAQs) on the implementation of the Affordable Care Act’s (ACA) overall cost-sharing limit and the No Surprises Act’s (NSA) protections … Continue reading
Posted in Affordable Care Act, Government
Tagged ACA
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REMINDER: PCORI Fees Due By July 31, 2023
Employers that sponsor self-insured group health plans, including health reimbursement arrangements (HRAs) should keep in mind the upcoming July 31, 2023 deadline for paying fees that fund the Patient-Centered Outcomes Research Institute (PCORI) via Form 720, which was recently updated … Continue reading
Posted in Employer HRA, Government, Health Insurance, Tax
Tagged health insurance, IRS, tax
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DOL Issues Guidance on Preventive Care Court Order
On March 30, 2023, the United States District Court for the Northern District of Texas issued an order in Braidwood Management Inc. v. Becerra (“Braidwood”), vacating any and all actions taken by the DOL and other federal agencies (in the … Continue reading
Posted in Affordable Care Act, Government, Health, Health Insurance, Health Reform News, Preventive Care
Tagged ACA, health, health insurance, health reform
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Agencies Issue Guidance on the End of the COVID-19 Emergencies (Revised based on the President’s Signature of H.J.Res. 7 on April 10, 2023)
On January 30, 2023, President Biden issued a Statement of Administration Policy announcing his intent to end the COVID-19 national and public health emergencies on May 11, 2023. However, on April 10, 2023, the President signed H.J.Res. 7, which … Continue reading
Posted in Affordable Care Act, Broker Alert, Coronavirus, Government, Health Insurance, Insurance Agent, Insurance Carriers
Tagged coronavirus, health insurance
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ARE YOU PREPARED?
The Cost of Flooding It’s flood season, and if your area is affected by a flood, you could be left with some financial liability. How much exactly? This article explains: https://bit.ly/3EGvrcG Do You Know Your Flood Risk? Everyone is at … Continue reading
Posted in Being prepared, Flood Insurance, Government, Home insurance, Hurricanes, Natural Disasters, Personal Insurance
Tagged disasters, flood insurance, hurricanes
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ACA Pay or Play Penalties Will Increase for 2024
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Study Reveals Americans’ Top Health Priorities
Study Reveals Americans’ Top Health Priorities New survey research reveals that Americans believe the government’s top public health priority should be lowering costs for health care and prescription drugs. The market firm Ipsos and news website Axios teamed up for … Continue reading
Posted in Economy, Government, Health, health care reform, Health Insurance
Tagged health, health care reform
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Inflation Reduction Act Contains Some Health Reforms
On Aug. 12, 2022, the U.S. House of Representatives passed the Inflation Reduction Act. President Joe Biden is expected to sign it into law shortly. While this bill is primarily aimed at fighting inflation and reducing carbon emissions, it also … Continue reading
Posted in Being prepared, Economy, Government, Health, Health Insurance, Sugar Land Insurance
Tagged health, health insurance, preparing
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2023 Open Enrollment Checklist
To prepare for open enrollment, group health plan sponsors should be aware of the legal changes affecting the design and administration of their plans for plan years beginning on or after Jan. 1, 2023. Employers should review their plan documents … Continue reading
Posted in Affordable Care Act, Being prepared, Economy, Employee Wellness, Government, Health, health care reform, Health Insurance, Health Savings Account, High Deductible Health Plan, Human Resources, Out-of-Pocket Max, Preventive Care, Summary of Benefit and Coverage
Tagged ACA, benefits, employee, health, health insurance, human resources, preparing, sugar land insurance agency
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Proposed Overtime Rule Expected in October 2022
In its recent spring regulatory agenda, the U.S. Department of Labor (DOL) announced its plans to issue a proposed overtime rule in October 2022. According to the agency’s regulatory agenda, this proposed rule is expected to address how to implement … Continue reading
Posted in Commercial Insurance, Economy, Government, Human Resources, Sugar Land Insurance, workplace
Tagged business, employee, human resources
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