The deadline for furnishing statements to individuals under Sections 6055 and 6056 has been extended to March 2, 2021. Employers should become familiar with these forms and instructions for reporting for the 2020 calendar year.
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The Departments of Labor (DOL), Health and Human Services (HHS) and the Treasury (Departments) issued a final rule that imposes new transparency requirements on group health plans and health insurers in the individual and group markets.
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The IRS typically announces the dollar limits that will apply for the next calendar year well in advance of the beginning of that year. This gives employers time to update their plan designs and make sure their plan administration will be consistent with the new limits. Although some of the limits will increase for 2021, most of the limits remain the same.
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A message from Independence Blue Cross…
Independence is committed to ensuring that our members have access to the care they need, at the right time, and in the right setting. As COVID-19 has escalated into a serious global health threat, we are working to make sure that our members can receive appropriate testing and treatment for this virus, if needed. As the situation continues to evolve and we receive guidance, we will continue to evaluate our client and member needs.
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The College Tuition Benefit is a value‑added program that helps your employees achieve greater financial security and alleviate some of the stress associated with paying for college. And for you, it can be used as a meaningful recruiting and retention tool helping to increase employee satisfaction.
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Make sure you have proper healthcare while traveling abroad. The last thing you want is to be caught in an emergency abroad and pay out-of-pocket for a large hospital bill.
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The Affordable Care Act requires insurers offering fully-insured plans to pay a “health insurance tax” based on premiums and market share. These fees help fund the ACA’s marketplace exchanges, but Congress passed a one-year hold on the tax in 2019.
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To prepare for open enrollment, group health plan sponsors should be aware of the legal changes affecting the design and administration of their plans for plan years beginning on or after Jan. 1, 2020. Employers should review their plan documents to confirm that they include these required changes.
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