Posts Tagged ‘Medical Insurance’
Voluntary Benefits Are No Longer Optional
With health insurance costs continuing to climb, many employers are finding that standard medical coverage alone doesn’t offer enough financial protection for their staff. Voluntary Benefits could be the answer. Rising deductibles, higher out-of-pocket maximums, and the soaring cost of care are pushing workers to look for other ways to fill the gaps. Employers can…
Read MoreHealth Insurers Pledge to Simplify Prior Authorization
In a major announcement, America’s Health Insurance Plans (AHIP) said that more than 50 major insurers — including UnitedHealthcare, Aetna, Cigna and various regional Blue Cross Blue Shield plans — have pledged to significantly streamline the prior authorization process and improve the patient care experience. This shift could bring relief to more than 250 million…
Read MoreIRS to Get Tough on ACA Reporting Form Mistakes – Forms 1094-C & 1095-C
The time when the IRS offers relief from financial penalties to employers that make errors on their group health insurance reporting forms has come to an end. Starting this year, the IRS will no longer offer protection against reporting error penalties when “applicable large employers” (ALEs) file their Forms 1094-C and 1095-C and the employer…
Read MoreACA Compliance: Group Plan Affordability Level Set for 2022
The IRS has announced the new affordability requirement test percentage that group health plans must comply with to conform to the Affordable Care Act. Starting in 2022, the cost of self-only group plans offered to workers by employers that are required to comply with the ACA, must not exceed 9.61% of each employee’s household income.…
Read More