The Future of Obamacare

Posted on November 10th .

*+-The Nightly Business Report: Interview with Craig Garthwaite from North Western University

Health Insurance Marketplace Calculator

Posted on November 08th .

*+-The Health Insurance Marketplace Calculator provides estimates of health insurance premiums and subsidies for people purchasing insurance on their own in health insurance exchanges (or “Marketplaces”) created by the Affordable Care Act (ACA)

How employers should handle Medical Loss Rebates

Posted on October 05th .

*+-Did your firm receive a check from an insurance company? What are your legal obligations?
Issuers that do not meet these requirements must provide rebates to consumers. Rebates must be provided by September 30 following the end of the Medical Loss Ratio (MLR) reporting year.

Health care takes up to 7.6% of employer budget, study shows

Posted on September 02th .

*+-The cost of providing health coverage to the average U.S. employee rose nearly $500 over the past year. That means employers are now spending an average of $8,669 annually for each worker they cover.

The Affordable Care Act After 6 Years

Posted on March 28th .

*+-The Affordable Care Act generates so much partisan heat and draws so much media attention that many people may have lost perspective on where this law fits in the overall health system.
The Affordable Care Act is the most important legislation in health care since the passage of Medicare and Medicaid. The law’s singular achievement is that 20 million people who were previously uninsured have health-care coverage. What sets the ACA apart is not only the progress made in covering the uninsured but also the role the law has played rewriting insurance rules to treat millions of sick people more fairly and its provisions reforming provider payment under Medicare. The latter is getting attention throughout the health system.

The ACA: What’s Been Repealed, Delayed or Retained

Posted on January 20th .

*+-As you’ve no doubt noticed, the federal government made sweeping legislative and regulatory changes to the Affordable Care Act during the fourth quarter of 2015. During the last two weeks of December, I felt like I was drinking from a six-inch fire hose. How about you?

IRS Form 1094-C and 1095-C Updated Deadlines and Important Definitions

Posted on December 29th .

*+-Beginning in 2016, certain employers are required to report information to the IRS about the health insurance they offered (or did not offer) to full-time employees in 2015. On September 16, 2015, the IRS released the final versions of Form 1094-C and Form 1095-C, along with instructions for each of them. In general, these forms give the employer the chance to demonstrate their compliance with certain provisions of the Affordable Care Act (“ACA”) and avoid ACA monetary penalties. This article provides information to help employers fill out these forms. For additional information regarding the purpose of these forms and which employers are required to submit the forms, see IRS Forms 1094-C and 1095-C: ACA Deadlines Are Approaching. Are You Ready?

Why everyone wants to kill Obamacare’s Cadillac tax

Posted on December 18th .

*+-We’re talking about the much-reviled Obamacare Cadillac tax, which is set to levy a hefty 40% excise tax on employer health plans that are considered generous.

The tax suffered its first body blow this week, with lawmakers on both sides of the aisle agreeing to delay its implementation until 2020, instead of 2018, as part of Wednesday’s budget deal. President Obama has even said he’ll sign it, which would make it the first significant change to Obamacare that Congress would get past his desk.

Here’s how the Cadillac tax works: Companies will have to pay the levy on the value of policies above a certain cap, which for 2018, is slated to be $10,200 for an individual and $27,500 for a family. The goal is to control the growth of health care spending: Eliminating pricier benefit plans will curtail excess health care usage.