United Benefit Advisors Insight and Analysis Blog

IRS Delay in 6055 and 6056 Reporting for 2017

Posted by: Danielle Capilla    Dec 8, 2016 10:30:00 AM

Under the Patient Protection and Affordable Care Act (ACA), individuals are required to have health insurance while applicable large employers (ALEs) are required to offer health benefits to their full-time employees. In order for the Internal Revenue Service (IRS) to verify that (1) individuals have the required minimum essential coverage, (2) individuals who request premium tax credits are entitled to them, and (3) ALEs are meeting their shared responsibility (play or pay) obligations, employers with 50 or more full-time or full-time equivalent employees and insurers will be required to report on the health coverage they offer. Final instructions for the 1094-B and 1095-B and the 1094-C and 1095-C forms were released in September 2016, as were the final forms for 1094-B, 1095-B, 1094-C, and 1095-C. The reporting requirements are in Sections 6055 and 6056 of the ACA.

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Topics: health insurance, ACA, PPACA reporting, Danielle Capilla, applicable large employers, ACA reporting, IRS Form 6055 and 6056

Will Health Insurance Soon Become Health Memberships?

Posted by: Elizabeth Kay    Feb 10, 2015 12:00:00 PM

With the passage of the Patient Protection and Affordable Care Act (PPACA), we saw a number of hospitals and provider groups being bought and merged with larger provider groups. This was done for two reasons. One, in part to make sure that they were able to establish more buying power, or bargaining chips to bring to the contract negotiating table. Two, with less competition, they have more control over how much they can charge for services.

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Topics: health insurance, PPACA Affordable Care Act, Elizabeth Kay, health membership, AEIS Advisors

Funding Concierge Medicine Costs with HSAs/FSAs

Posted by: Dave Woodruff    Feb 4, 2014 10:28:00 AM

By Dave Woodruff
The A.I. Group, Inc.

Most of us have heard of “concierge medicine” and it’s gaining popularity, especially among executives.  As more people enroll, more questions are popping up that we haven’t heard before.  One of the most frequent questions we’ve heard is, “Can I fund the cost of the concierge with my health savings account (HSA) or flexible spending account (FSA)?”

The answer is an absolute “maybe!”

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Topics: health care costs, health insurance, UBA Partner Firm, employee benefits, health care, FSA, concierge medicine, flexible spending account, health savings account, HSA

Leadership is Leading the Way

Posted by: Bill Olson    Dec 20, 2013 11:53:00 AM

“Complaining is not a strategy.”-- Jeff Bezos, Founder and Chief Executive Officer, Amazon.com

It’s no secret that the insurance benefits industry is rapidly changing, probably at the fastest rate in its history. United Benefit Advisor’s Chief Executive Officer, Thom Mangan, has been outspoken about the fact that advisors who don’t keep up with the changing benefits industry will quickly get left behind. Mangan is often recognized for his drive to stay one step ahead of the game and was recently honored with the CEO Leadership Award from the Institute of HealthCare Consumerism (IHCC) as a result of his leadership in this area. In this brief interview with the IHCC, he shares his thoughts on the future.

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Topics: health care costs, health insurance, ACA, UBA, employee benefits, health care reform, health care, Thomas Mangan

Why? Because!

Posted by: Bill Olson    Dec 6, 2013 12:58:00 PM

Like the classic child question, "Why?" and the time-tested parent response, "Because!" there are some things in benefits that we as HR professionals just need to know even if they are not that remarkable. It's just good for us. Like eating vegetables. This is true for the annual cost of living adjustments. Many employee benefit limits are automatically adjusted each year for inflation (this is often referred to as an "indexed" limit). The Internal Revenue Service and the Social Security Administration have released the indexed figures for 2014. Because inflation is relatively low and some amounts are adjusted only if the increase meets a minimum, many amounts are unchanged for 2014.  Limits of particular interest include the following.

For health and Section 125 plans:

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Topics: health care costs, health insurance, employee benefits, health care, employee benefit limits, health plans

If PPACA Were the Joneses, “Keeping Up” Would Be Hard to Do

Posted by: Bill Olson    Dec 3, 2013 4:23:00 PM

Delay, delay, delay … Error, delay, repeal. That seems to be the trend with health care reform, but it doesn’t mean employers are exempt from compliance in 2015 or the requirements that remain in effect for 2014 under the Patient Protection and Affordable Care Act (PPACA). 

Under PPACA, employers still have varying degrees of responsibility, based on number of employees, for providing health coverage that is both affordable and offers a minimum standard of coverage. 

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Topics: HR webinars, health care costs, health insurance, health insurance exchanges, ACA, employee benefits, health care reform, PPACA

Insurers Given Permission to Renew Policies That Don't Meet PPACA Requirements

Posted by: Linda Rowings    Nov 21, 2013 2:54:00 PM

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Topics: employee communication, health insurance, ACA, health marketplace, employee benefits, health care reform, health care, PPACA

Today’s Top 5 Health Insurance Options for Small Group Employers

Posted by: Josie Martinez    Nov 8, 2013 1:09:00 PM

By Josie Martinez, Senior Partner and Legal Counsel 
EBS Capstone, A UBA Partner Firm

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Topics: health care costs, health insurance, health insurance exchanges, ACA, health marketplace, employee benefits, health care, PPACA, small group employers

How Health Benefits Differ Across the Country

Posted by: Thomas Mangan    Oct 25, 2013 11:31:00 AM

By Thomas Mangan
CEO, United Benefit Advisors 

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Topics: health insurance, health insurance premiums, health plan benchmarking, UBA, employee benefits, hr consulting, health care, Thomas Mangan

COBRA POST-PPACA

Posted by: Linda Rowings    Oct 11, 2013 10:38:00 AM

By Linda Rowings
Chief Compliance Officer
United Benefit Advisors

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Topics: health care costs, health insurance, UBA, employee benefits, health care reform, health care, PPACA, COBRA