News

Walgreens turns away from Express Scripts negotiations

You may have received word that Walgreens and Express Scripts have a retail agreement that will expire on 12/31/2011. There had been ongoing negotiations between both parties to come up with a new retail agreement for 1/1/2012 until negotiation conversations recently broke down. Express Scripts is hopeful that they will be able to return to […]

W-2 Reporting Requirement – New Guidance Released by the IRS

The Patient Protection and Affordable Care Act of 2010 mandates employers to report the aggregate cost of employer sponsored health care coverage on Form W-2. The IRS (Internal Revenue Service) released (Notice 2011-28) in May 2011 providing guidance to employers on this reporting requirement. The reporting is now required on Forms W-2 for the year 2012. What is […]

Health Savings Account – 2012 Limits

The IRS has announced the annual limitation on deductions for the 2012 calendar year for individuals and families who have coverage under a high deductible health plan. The table below reflects a summary of the 2012 HSA contribution and HSA compatible health plan limits. Tax Year 2012 HSA annual contribution limits Single – $3,100 Family […]

Voluntary Benefits 101

Are you offering enough value services to attract and retain a quality workforce? Rising health insurance premiums are not new to employees, high deductible plans are. One of our value services is offering effective and creative ways you can use to help alleviate some of the high deductible burdens your employees are starting to experience. […]

2011 – Upcoming Changes & Reminders

Changes to Flexible Spending Accounts – January 1, 2011 The cost of over-the-counter medicine or drug will no longer be reimbursed, unless a prescription is obtained from a physician. For more information please visit the IRS website or IRS Notice 2010-59. Reporting Requirement Optional in 2011 Starting in tax year 2011, employers are required to […]

National Healthcare Reform – 2010 Key Provisions

On March 23, 2010, President Obama signed into law the Affordable Care Act, which puts in place significant changes in the healthcare reform. In an effort to protect consumers, lower costs, guarantee choices and enhance quality healthcare for all Americans, the Act has put in place some key provisions that took effect in 2010 and […]

W-2 Reporting Requirement – New Guidance Released by the IRS

The Patient Protection and Affordable Care Act of 2010 mandates employers to report the aggregate cost of employer sponsored health care coverage on Form W-2, Wage and Tax Statement, beginning January 1, 2011. The IRS (Internal Revenue Service) released Notice 2010-69 (see link below) on October 12, 2010 providing interim relief to employers on this […]

Dependent Coverage

Effective for health plan years beginning on or after September 23, 2010, the Affordable Care Act requires group health plans and health insurers that offer dependent coverage of children to make coverage available for young adults until age 26. The goal of this policy is to extend coverage to as many employed adults. Enrollees are […]

Health Care Reform Update Short-term Incentives for Expansion of Health Coverage

Recognizing that the key provisions of the Affordable Care Act do not take effect until 2014, Congress included a number of short-term incentives for the expansion of health coverage during the intervening period. Three of these programs are as follows: “Reinsurance” for certain claims incurred by early retirees under an employer-sponsored plan. A tax credit […]

New Rules on Grandfathered Status under Patient Protection and Affordable Care Act

The Departments of Health and Human Services, Labor and Treasury recently issued an interim final rule on what constitutes a grandfathered health plan under the Patient Protection and Affordable Care Act. Under the regulations, a grandfathered health plan is defined as an employer-sponsored group health plan, either insured or self-insured, or individual insurance coverage that […]