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: Health Insurance
HSAs, HRAs and FSAs
Employer Cheat Sheet for HSAs, HRAs and FSAs – Infographic Employers are increasingly looking to consumer driven health plans to help soften the blow of continually rising health care costs. Depending on the model, consumer driven health plans typically include … Continue reading
Posted in Health Insurance, Health Savings Account
Tagged health insurance
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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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ACA Pay or Play Penalties Will Increase for 2024
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Workers Are Enrolled in HDHPs – Over Half of U.S. Private-sector
More than half (55.7%) of American private-sector workers were enrolled in high deductible health plans (HDHPs) in 2021, according to the Kaiser Family Foundation’s recent 2022 Employer Health Benefits Survey. The 5.3% increase from 2020 is the highest on record, … Continue reading
Posted in Economy, Health, Health Insurance, High Deductible Health Plan, workplace
Tagged employee, health insurance
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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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Employee Guide to the Major Types of Health Plans
You have many choices when it comes to selecting a health insurance plan, which can make the process feel overwhelming. Health plans vary and have their own sets of benefits and drawbacks related to coverage, physicians, copays and premiums, among … Continue reading
Posted in Employee Wellness, Health, Health Insurance, Health Savings Account, High Deductible Health Plan, Sugar Land Insurance, workplace
Tagged benefits, employee, health, health insurance, Insurance Agent, sugar land insurance
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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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Pay or Play Affordability Percentage Decreased for 2023
On Aug. 1, 2022, the IRS issued Revenue Procedure (Rev. Proc.) 2022-34 to index the contribution percentages in 2023 for determining the affordability of an employer’s plan under the Affordable Care Act (ACA). For plan years beginning in 2023, employer-sponsored … Continue reading
Posted in Affordable Care Act, Being prepared, Employee Wellness, Health, Health Insurance, Sugar Land Insurance
Tagged ACA, employee, health, health insurance, sugar land insurance agency
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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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