24 Oct

Posted at 01:18h in Employee Benefits White Papers by . .

The Internal Revenue Service (IRS) Released Final 2020 Forms And Instructions For Reporting Under Internal Revenue Code (Code) Sections 6055 And 6056.

  • 2020 Form 1094-B and Form 1095-B (and related instructions) will be used by providers of minimum essential coverage (MEC), including self-insured plan sponsors that are not ALEs, to report under Section 6055.
  • 2020 Form 1094-C and Form 1095-C (and related instructions) will be used by applicable large employers (ALEs) to report under Section 6056, as well as for combined Section 6055 and 6056 reporting by ALEs who sponsor self-insured plans.

24 Oct

Posted at 01:16h in Employee Benefits White Papers by . .

The Internal Revenue Service (IRS) Released Draft 2020 Instructions Related To Forms For Reporting Under Internal Revenue Code (Code) Sections 6055 And 6056. Draft Forms For This Reporting Were Released In July 2020.

  • 2020 draft Forms 1094-Band 1095-B and related draft instructions will be used by providers of minimum essential coverage (MEC), including self-insured plan sponsors that are not ALEs, to report under Section 6055.
  • 2020 draft Forms 1094-Cand 1095-C and related draft instructions will be used by applicable large employers (ALEs) to report under Section 6056, as well as for combined Section 6055 and 6056 reporting by ALEs who sponsor self-insured plans.

19 Oct

Posted at 15:17h in Employee Benefits White Papers by . .

Trends at a glance headerWhat Is Self-funding? An employer has a self-funded (or self-insured) group health plan if the employer assumes the financial risk associated with providing health care benefits to its employees.

Rather than paying fixed premiums to an insurance company—which, in turn, assumes the financial risk— pays for medical claims out of pocket as they are incurred. | | |

13 Oct

Posted at 18:39h in Employee Benefits White Papers by . .

Trends at a glance headerA wellness program is an organized program intended to assist employees and family members in making voluntary behavior changes that reduce their health risks and enhance their individual productivity.

Wellness programs vary widely in design and may offer opportunities or incentives for improving health and wellness, such as increasing fitness, losing weight, managing chronic health conditions or quitting smoking.    

02 Oct

Posted at 17:39h in Employee Benefits White Papers by . .

HR Compliance Bulletin headerMany health plans provide coverage for employees’ dependent children. Since 2010, the Affordable Care Act (ACA) has imposed strict requirements on plans that provide dependent coverage. These requirements prohibit restrictions that employers had frequently used to limit dependents’ eligibility for coverage prior to 2010.

Specifically, group health plans and health insurance issuers offering group or individual coverage that provide dependent coverage to children on their parents’ plans must make coverage available until the adult child reaches age 26. As employers look for ways to reduce the costs of providing coverage to employees and their families, they may be considering limiting dependent coverage, or imposing additional costs or restrictions on eligibility. However, these measures may be prohibited by the ACA. This Compliance Bulletin provides an overview of the rules that employers must follow when offering dependent coverage.

02 Oct

Posted at 16:39h in Employee Benefits White Papers by . .

According to the Bone and Joint Initiative USA, nearly 1 in 2 Americans over the age of 18—or 124 million people—have a musculoskeletal disorder. And, according to OSHA, work-related musculoskeletal disorders are among the most common disability claims.

What are musculoskeletal disorders?

Musculoskeletal disorders (MSDs) refer to a variety of conditions that affect your joints, bones and muscles. According to the World Health Organization, there are more than 150 conditions that are considered MSDs, the most common being osteoarthritis, back and neck pain, fractures and systemic inflammatory conditions (e.g., rheumatoid arthritis).