United Benefit Advisors Insight and Analysis Blog

2015 Federal Poverty Guidelines

Posted by: Linda Rowings    Feb 12, 2015 11:00:00 AM

The federal poverty level guidelines (FPL) are used for many purposes, including assessing eligibility for a premium tax credit for coverage purchased through the health Marketplace.  Premium tax credits are available to individuals who have household income of 100% to 400% of FPL in states that have not expanded Medicaid eligibility to 133% of FPL and to those who have household income of 133% to 400% of FPL in states that have adopted expanded Medicaid – an individual who is eligible for Medicaid is not eligible for a premium tax credit.

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Topics: 2015, Federal Poverty Level, guidelines

IRS Provides 2015 Mileage Rates and Guidance on Retroactive Transit Benefit Increase

Posted by: Bill Olson    Feb 3, 2015 11:00:00 AM

On December 10, 2014 the IRS released the optional standard mileage rates for 2015. Beginning on January 1, 2015, the standard rates for the use of a car, van, pickup or panel truck are:

  • 57.5 cents per mile for business miles, up from 56 cents in 2014
  • 23 cents per mile for medical or moving purposes, down half a cent from 2014
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Topics: IRS, 2015, Tax Increase Prevention Act, TIPA, Mileage, Retroactive Transit Benefit

2015 Cost-of-Living Adjustments

Posted by: Linda Rowings    Dec 16, 2014 12:00:00 PM

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 a number of indexed figures for 2015.

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Topics: Linda Rowings, IRS, 2015, Cost-of-Living, Adjustments, Social Security Administration

Group Health Plans That Do Not Cover Inpatient Hospital or Physician Services

Posted by: Linda Rowings    Nov 25, 2014 12:26:00 PM

Beginning in 2015, large employers must offer affordable, minimum value coverage to their full-time employees or potentially pay a penalty. Some companies have been marketing a plan that they state satisfies the minimum value requirement (an actuarial value of 60%), based upon a calculator provided by the Department of Health and Human Services (HHS), even though the plan does not cover inpatient hospital charges. In Notice 2014-69, HHS and the IRS state that plans that do not provide substantial coverage for physician and inpatient hospital services will not be considered minimum value plans, and that the result obtained through the HHS calculator should not be considered valid since that calculator was built on the assumption that a traditional plan design would be used. The agencies do recognize that some employers have already implemented these plans based on the calculator results, and the Notice states that a limited exception will be available to those employers. To be able to use the exception:

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Topics: Linda Rowings, 2015, In-Patient, Hospital, Physician, Group health plans