Healtcare Reform Law

Exchange Notice Must Be Provided to Current and New Employees

Following a delay in the original effective date, employers will need to comply with the new requirement to provide each employee a written notice with information about a Health Insurance Exchange (also known as a Marketplace) beginning this fall.   Employers are required to provide the written notice to each current employee not later than October 1, 2013, and to each new employee at the time of hiring beginning October 1, 2013(for 2014, a notice will be considered provided “at the time of hiring” if it is provided within 14 days of an employee’s start date). Model language that employers may use to satisfy the notice requirement is available from the U.S. Department… Read More

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CBO: Obama budget would cut $364 billion in Medicare spending

President Obama’s budget proposal would save the Medicare program $364 billion  over the next decade, according to the Congressional Budget Office (CBO). The CBO largely concurred with the White  House’s estimates, which pegged the budget’s Medicare savings at $370  billion. Read the rest of the story here. Read more: http://thehill.com/blogs/healthwatch/medicare/300497-cbo-obama-budget-would-cut-364-billion-in-medicare-spending#ixzz2Tq8qATza Follow us: @thehill on Twitter | TheHill on Facebook

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Healtcare Reform Law

New Guidance on SBC’s

Under health care reform, plan participants and beneficiaries must be provided a 4-page summary of benefits and coverage (“SBC”) and uniform glossary. This requirement is effective for open enrollment periods that begin on or after September 23, 2012. For participants and beneficiaries who enroll in group health plan coverage outside of open enrollment (e.g., newly eligible individuals and special enrollees), the SBC must be provided beginning on the first day of the first plan year that begins on or after September 23, 2012. This requirement is an ongoing one and, as open enrollment season approaches, the Departments of Labor, Health and Human Services, and Treasury have issued updated guidance and… Read More

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IBC-Important update-changes to group plan selection requirements

We would like to share some important updates and reminders about the Summary of Benefits and Coverage (SBC), under the Affordable Care Act (ACA), including information about off-anniversary benefit changes, obtaining SBCs through our brochure and giveaway system (BAGS), and SBC postcards that are sent to members. Under the ACA both group health plans (customers) and health insurance issuers (health insurers) are required to provide the SBC to participants under certain circumstances. ACA 60-day notification requirement for off-anniversary benefit changes For customers who make off-anniversary material modifications (e.g., benefit changes) that affect the content of the SBC, participants in the customer’s group health plan must receive notification of the change… Read More

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Healtcare Reform Law

Important Guidance Issued on Notice of Exchange

Open enrollment for health insurance coverage through the Exchange (now referred to as the Health Insurance Marketplace) begins October 1, 2013. The Affordable Care Act creates a new Fair Labor Standards Act (FLSA) section that requires employers to provide each employee at the time of hiring, as well as current employees, a written notice that includes information regarding the new Health Insurance Marketplace. Click this link to download this important announcement… Exchange Notice – 051013R

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Healtcare Reform Law

Regulation Issued on Small Group Exchange Plans

Individuals and small employers will be able to purchase private health insurance through a new marketplace called “The Exchange” beginning in 2014. Each state that chooses to operate an Exchange must also establish a Small Business Health Options Program (“SHOP”) that assists eligible small businesses in providing health insurance options for their employees. Click the link to download the rest of the announcement… SHOP Exchanges – 050813R

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Health Savings Account – HSA 2014 Rules & Requirements

Health Savings Account – HSA 2014 Rules & Requirements The IRS recently announced the health savings account rules and requirements for 2014. The HSA contribution limits and out-of-pocket maximums have been increased.   2014 HSA Contribution Limits For calendar year 2014, the annual HSA contribution limits are: Individuals (self-only coverage) – $3,300 (up $50 from 2013) Family coverage – $6,550 (up $100 from 2013) HDHP minimum required deductibles The High Deductible Health Plan (HDHP) required deductibles for an HSA did not change from 2013 to 2014: $1,250 for self-only coverage $2,500 for family coverage Out-of-pocket maximum The annual out-of-pocket expenses include deductibles, co-payments, and other amounts, but not premiums. The… Read More

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Aetna introduces the Premium Savings Plan for Healthcare Reform

The Premium Savings program allows you to keep the plan you have, as allowed under the ACA. Doing so will help you to limit disruption in a changing health care environment. Plus,it gives you the time you need to assess your business needs in the future. Aetna clients have the option to: Canceltheir current policy and add a new 12 month policy with a new renewal date of Sept., Oct., Nov. or Dec.  2013. In some states, customers may be able to retain current benefits and rate levels through September-December 2014. Maintain their existing policy and renewal cycle ending in 2014 and move to plans and rates that comply with 2014 ACA regulations at… Read More

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United Healthcare offering early renewal option

Due to the expected rate increases, and uncertainty caused by the PPACA implementation date of January 1st 2014, United Healthcare is allowing groups who renew in the first quarter of the year to roll their renewal back to December 2013. This is an opportunity for United Healthcare clients to renew early and also lock in their plan and rates for most of the year 2014. More details will be following soon. Please contact us if you have any questions or concerns at 215/355-2121.   Want more information from United Healthcare on reform? Click here for a guide for employers.

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Coventry is offering an early renewal option for small groups

Coventry/Health America is offering an early renewal option for small groups rated in BenefitExpress. These clients have the option to renew off-cycle for another 12 months. Selecting a December 1 renewal option can provide consistency, stability and predictability in rates and benefits, especially for employers concerned with ACA changes taking effect in January 2014. Contact your Total Benefit Solutions representative for more details.

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Healthcare Reform Presentation at Gloucester County Tea Party

  Healthcare Reform Presentation at Gloucester County Tea Party Edward T. MacConnell CBC, CHRS will be speaking at the Gloucester County Tea Party Patriots meeting on May 22nd.  The Topic is Health Care Reform and You! Meeting Start time is 7:00 at the Gloucester County Library, in MullicaHill Branch, 389 Wolfert Station Road Mullica Hill (East of NJ Rte 45, Bridgeton Pike) at 7:00 PM to 8:30 PM. To reserve your seat contact Rose at 856-228-9249

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Ed MacConnell & Terry Farber Esq. to speak at Arden Courts of Warminster

Questions about Medicare, Medicaid, Long Term Care and Elder Law Planning? Join us for a Q+A session with Edward T. MacConnell CBC, CHRS and Elder Law Attorney Terry Farber on May 16th 2013 at Noon. Location: Arden Courts at Warminster, 779 W County Line Road, Hatboro PA 19040  Call to reserve your seat: Sarah Gawlinski-Greenstein, (215)957-5182 . The presentation starts at 12 Noon.

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