2023 ACA Compliance Reporting

Each year when the 4th quarter rolls around, employer workloads grow tremendously, from processing new benefits to closing out the current year. With regulatory changes over the last two years, it’s vital to ensure that you maintain compliance. So let’s review the Affordable Care Act, or ACA, compliance reporting due in the first quarter of … More >>

Inflation Reduction Act May Impact Group Health Plans

President Biden signed the Inflation Reduction Act (IRA) into law on August 16, 2022. Among other provisions, the IRA: Addresses aspects of the Affordable Care Act (ACA) Requires Medicare to negotiate drug prices with manufacturers Caps the cost of prescribed insulin for Medicare recipients at $35 a month Provides an insulin safe harbor for high-deductible … More >>

ICHRAs Benefit All Businesses

Attractive benefits plans are essential in today’s labor market. Smaller businesses often struggle to find affordable group health insurance plans that comply with ACA regulations. Let’s look at how an¬†Individual Coverage Health Reimbursement Arrangement,¬†or ICHRA, can offer big benefits for all businesses. What is an ICHRA? ICHRAs are an attractive option for both employers and … More >>

ICHRA and EBHRA; New Rules from IRS

ICHRA and EBHRA: IRS Expands HRA Plan Types for Employers

The Internal Revenue Service (IRS), in coordination with other Federal agencies, published a final ruling which expands Health Reimbursement Arrangement (HRA) plan types for employers. HRAs are employer-funded benefit plans used by employees to cover qualified healthcare expenses. The newly-created Individual Coverage HRA (ICHRA) and Excepted Benefit HRA (EBHRA) became available on January 1, 2020. … More >>