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Health Care Reform

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Tammy Gray
Employee Benefits
Phone: 209-856-8885
tgray@rppins.com

ACA Employer Mandate Delayed Further for Some Employers

On Monday, February 10, 2014, the U.S. Treasury Department and IRS announced final regulations on the Affordable Care Act’s (ACA) Employer Shared Responsibility containing some very important compliance changes and clarification, including:

• Employers with 50 to 99 full-time or full-time equivalent employees will have until 2016 to offer coverage to their full-time employees or pay an employer penalty, if they certify they are not cutting positions to avoid the mandate.
• 100+ employers must offer ACA-defined affordable coverage with minimum value to 70% of their full-time employees in 2015, rather than the proposed requirement of 95% (all but the greater of 5% or 5 employees). The 95% requirement will apply in 2016.
• Seasonal employees in positions for which the customary annual employment is six months or less generally will not be considered full-time.
• Large employers are not required to provide coverage to their full-time employees’ dependents in 2015 if they are taking steps to arrange for dependent coverage to begin in 2016.

Click here to review the U.S. Treasury Fact Sheet (This is an excellent summary document with valuable information not covered in many news reports.)
Click here to read the U.S. Treasury and IRS Press Release.
Click here for the updated IRS FAQs on Employer Shared Responsibility.

Interested in learning more or do you have a question about healthcare reform? You can click on the link below for individual price and plan comparison with individualized results for you.  Getting an Individual or Family quote is just a few clicks away. Your privacy is important to us, so if this is your first time obtaining a quote, you will need to create a username and password. If you are returning to view a quote you already ran, please use the same login. Please note that your information will only be shared with us.

Click HERE for price and plan comparison.

Click HERE for Covered California Fact Sheets.

Are you up to date on the Health Care Reform? Let Rico, Pfitzer, Pires and Associates guide you through what you should be aware of as an individual and as a business owner.

Here is a brief summary of what the Affordable Care Act, also known as Obamacare, means for you and for businesses that offer group benefits. In 2014, the program will implement changes to the current healthcare system. As a result, if a business has fewer than 25 employees and provides health insurance, it may qualify for a tax credit of 50%.

To prepare, you should look at your 2012 tax return to see if they will qualify for subsidies. Also, beginning on October 1st 2013, there will be public exchanges of health insurance plans that meet minimum federal guidelines. Therefore, you should take time to analyze your health spending patterns to make it easier to find the right insurance. Finally, as an employer, you are required to inform your staff about the new state exchanges and the subsidies available.

With so much to keep track of, you need an insurance specialist who is engaged and understands the latest changes to healthcare reform. At Rico, Pfitzer, Pires and Associates, we are dedicated to helping you navigate through the progressing health insurance reform. Our team can provide you with valuable insight about how your individual or group benefits coverage may be affected.

Interested in learning more or do you have a question about healthcare reform? Give us a call today at 800-628-8643 for support!

 

Open Enrollment Period

Open Enrollment Dates The open enrollment period for coverage beginning in 2015 begins November 15, 2014 and extends through February 15, 2015 (subject to change); During the annual open enrollment period, members may apply for coverage or change plans as early as January 1, 2015; For coverage to begin on January 1, 2015, the application … More

Medicare Annual Election Period and Part D Disclosure Notices

Medicare Annual Election Period & Part D Disclosure Notices Medicare’s Annual Election Period (AEP) begins on October 15, 2014 and ends on December 7, 2014. Employers who provide prescription drug coverage to Medicare Part D‑eligible individuals must distribute to these individuals annual notices indicating whether their employer-sponsored prescription drug benefit is creditable or non‑creditable* coverage.  … More

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Open Enrollment Explained

Health Care Reform: Open Enrollment Explained By: John Rico, Owner: Rico, Pfitzer, Pires and Associates Insurance Agency, Inc. Open enrollment is the only time of the year you can obtain a major medical plan that counts as minimum essential coverage in the Individual and Family Market without qualifying for a special enrollment period. This is … More

CA Senate Bill 1446 (Grandmothering) Becomes Law

California Senate bill 1446 has been signed into law so Grandmothering is official! This will allow qualifying small group employers with a 4th quarter 2014 health renewal the option of keeping their 2013 plans for another year rather than converting them to 2014 ACA plans.  Some carriers are even allowing this on their 9/1 renewals. … More

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IRS Clarifies Rule on Individual or Exchange Coverage for Employees

IRS Clarifies Rule on Individual or Exchange Coverage for Employees On May 16, 2014, the Internal Revenue Service (IRS) issued a FAQ response to clarify whether employers can provide added compensation to employees, so they may purchase individual health coverage. The IRS FAQ answer says it is illegal for an employer that does not establish … More

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Small Business Health Care Tax Credit

How much is your Small Business Health Care Tax Credit worth? When you buy health coverage for your employees through the Small Business Health Options Program (SHOP) Marketplace, you may qualify for a tax credit worth up to 50% of your premium contributions. • Our the SHOP Tax Credit Estimator can tell you what that credit … More

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Non-Discrimination Rule Update under PPACA

Under PPACA (The Patient Protection and Affordable Care Act, commonly called the Affordable Care Act or Obamacare) non-grandfathered group health plans were advised not to discriminate in favor of “highly compensated individuals.” PPACA defines “highly compensated individuals” as a group that includes the five highest-paid officers, but also shareholders who own more than 10 percent … More

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Healthcare Reform Documents

New information and explainations regarding Healthcare Reform are being released on a continuous basis. To help you sort through the information and answer your questions, we’ve provided links to important documents on this page. Please check back often for updates. Click on the links below to open the .pdf files for the following documents. Small … More

Health Care Reform – Large Group

Navigating the labyrinth of ever-changing information regarding employers and health care reform can be overwhelming.  We’re here to help.  Click the image below to get some simplified information regarding Large Group employers.   If you still have questions, please contact us at your convenience.    

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