The skinny on tax credits in the Marketplace for young adults
Most employers by now are familiar with the Affordable Care Act requirement that if health insurance is offered to employees and their dependents, the dependent eligibility must extend up to age 26. What happens if those same young adults who are eligible for their parents’ employer-sponsored plans want to purchase their own coverage through the […]
Small employers can shop, but can’t buy, on the SHOP Exchange
Last week, the Centers for Medicare & Medicaid Services (CMS) and the Department of Health & Human Services (HHS) announced a one year delay to the SHOP Exchange (or Marketplace). The SHOP (Small Business Health Options Program), originally scheduled to go live on October 1, 2013 with the individual marketplace, was previously pushed back to November 1. The first delay to […]
New Dates for Marketplace Open Enrollment
The federally-facilitated Marketplace (Exchange) went live on October 1, 2013 and has been plagued with difficulties ever since. In recognition of this fact, the Obama administration has given individuals looking to find insurance through the Marketplace a little more time to enroll in coverage that will be effective on January 1, 2014. Originally, someone looking […]
HHS Publishes Official Data on Health Insurance Exchange Enrollment
At 3:30pm on November 13, 2013, the Department of Health and Human Services announced highly anticipated enrollment data for individuals who have selected health insurance plans through the state or federal health insurance Exchanges. It is no secret that the launch of www.healthcare.gov and the opening of the federal health insurance Exchanges did not go […]
North Carolina News
Low Income Adults Fall Into PPACA’s “Coverage Gap”
An article from the Kaiser Family Foundation highlights an unintended consequence of the Patient Protection and Affordable Care Act’s (PPACA) evolution after the U.S. Supreme Court’s decision in the summer of 2012 – a “coverage gap” for low income adults who are not eligible for Medicaid, but who do not make enough money to qualify […]
Affordable Care Act News
IRS to Allow Limited Carry Over in Healthcare Flexible Spending Arrangements
This Halloween, the IRS and Department of the Treasury (Agencies) have made the healthcare flexible spending arrangement “use it or lose it” rule a bit less scary after the Patient Protection and Affordable Care Act’s $2,500 cap on FSA contributions was implemented this year. The Agencies have modified the “use it or lose it” rule […]
Avoid Individual Mandate Penalties – Sign up for Coverage by March 31, 2014
Officials from the Department of Health and Human Services (HHS) announced late Wednesday that they are working on official guidance that will allow individuals additional time to get health insurance coverage before incurring a penalty. The Affordable Care Act (ACA) requires nearly all individuals, beginning on January 1, 2014, to maintain health insurance coverage or pay a […]
Is your IT system glitch-free? Lessons from the Marketplace
Week two of enrollment in the health insurance marketplace continues with more reports of glitches in the systems causing delays in both federally-facilitated marketplaces and state marketplace. The troubles encountered with marketplace enrollment should serve as a warning for employers that will be facing federal reporting requirements in 2015. Although the employer mandate under the […]
No Fine for Failure to Provide the Notice of Exchange
The Department of Labor (DOL) has confirmed what many have suspected– there is no fine for failing to provide the Notice of Exchange. On September 12, 2013, the DOL released a very short FAQ answering the question: “Can an employer be fined for failing to provide employees with notice about the Affordable Care Act’s new Health […]
A Sneak Peek at Premiums in the Marketplace Across the Country
The Kaiser Family Foundation published a report today comparing marketplace insurance premiums in 17 states and Washington, DC. The report looks at premium cost for individuals and families in different financial circumstances. The result is an illustration of rates that might be paid, with and without tax credits, in the represented locations. The 17 states plus […]
