On May 4, 2017, the U.S. House of Representatives passed the “American Health Care Act of 2017” or “AHCA,” which will now be sent onto the Senate. Employers should not take any actions based on the current language and
One of Indiana’s largest independent physician groups, American Health Network is cashing in on the consolidating health care market, selling to insurer UnitedHealth Group. This acquisition will make UnitedHealth Group a player with Anthem Inc. in the Indiana market.
Below are some updates on the employer provisions contained in the Obamacare replacement bills introduced in Congress. Please contact your Somerset advisor at if you have any questions. Repeals the ACA’s taxes with an effective date of 2018 and beyond.
Under the Cures Act, Qualified Small Employer Health Reimbursement Arrangements (QSEHRA) in place on January 1, 2017 were required to provide a notice no later than March 13, 2017 (i.e., 90 days after enactment of the Cures Act). However,
Centers for Medicare & Medicaid Services have announced a one-year extension to the transition policy (originally announced November 14, 2013 and extended several times since) for individual and small group health plans that allows issuers to continue policies that
New policy on “silent returns.” In light of the recent executive order directing federal agencies to exercise authority and discretion available to them to reduce potential burden, IRS has decided to make changes that would continue to allow electronic
President Trump has issued an Executive Order intended to minimize the economic and regulatory burdens of the Affordable Care Act (“ACA”). Please note the order has NO immediate effect on employers, many of whom are in the process of
On December 7, 2016, the Senate passed the 21st Century Cures Act (“Cures Act”), which significantly expands small employers’ options for providing health coverage. The President has indicated that he will sign it into law. Once signed, the law
Last week, the House of Representatives voted 392-26 to pass H.R. 34, the vehicle for the 21st Century Cures Act. Republicans voted 218-20 and Democrats voted 174-6 in favor of the legislation. As a part of legislation moving through Congress,
In Notice 2016-70 issued on November 18, the IRS has provided an automatic 30-day extension of the due dates for furnishing individuals with 2016 Forms 1095-B (Health Coverage) and Forms 1095-C (Employer-Provided Health Insurance Offer and Coverage) from January
Patient-centered outcomes research fee (IRS No. 133). The patient-centered outcomes research fee is imposed on issuers of specified health insurance policies (section 4375) and plan sponsors of applicable self-insured health plans (section 4376) for policy and plan years ending
IRS released 2017 inflation-adjusted figures for contributions to Health Savings Accounts. Annual limitation on deductions for individual with self-only coverage under high deductible health plan is $3,400, and for individual with family coverage under high deductible health plan is
