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Monthly Archives: August, 2018

  • DOL Releases Updated Model Employer CHIP Notice

    Model Notice Informs Employees of Eligibility for Premium Assistance Under Medicaid or CHIP

    The U.S. Department of Labor (DOL) has updated its model notice for employers to provide information on eligibility for premium assistance under Medicaid or the Children’s Health Insurance Program (CHIP). This notice is generally updated twice a year. Click here to download the updated notice in PDF format.

    Annual Notice Requirement
    Employers that provide health insurance coverage in states with premium assistance through Medicaid or CHIP must provide employees with the employer CHIP notice annually before the start of each plan year. An employer can choose to provide the notice on its own or concurrent with the furnishing of:

    • Materials notifying the employee of health plan eligibility;
    • Materials provided to the employee in connection with an open season or election process conducted under the plan; or
    • The summary plan description (SPD).

    The updated model notice includes information on how employees can contact their state for additional information and how to apply for premium assistance, with information current as of July 31, 2018.

    Our Benefits Notices by Company Size section features information on additional health plan notice requirements.

    To access your HR library, please visit www.HR360.com/login.

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  • Short-Term Health Insurance Soon Available For Up to 36 Months

    New Rule Loosens Current Restrictions

    Effective October 3, 2018, a new rule will allow individuals to purchase short-term, limited-duration health insurance coverage for a period of less than 12 months, and renew such coverage for up to 36 months. Under current law, the maximum coverage period for short-term, limited-duration health insurance is less than 3 months, and these policies cannot be renewed.

    Notably, short-term, limited-duration health insurance is:

    • Not required to comply with the Affordable Care Act’s ban on pre-existing condition exclusions and lifetime and annual dollar limits.
    • Not required to comply with the Affordable Care Act’s essential health benefits requirement, which requires individual health insurance policies to cover, among other things, hospitalizations, emergency services, and maternity care.
    • Not “minimum essential coverage,” meaning that policyholders may remain liable for an individual mandate penalty for any month in 2018.

    Click here to read the new rule. A fact sheet is also available.

    Check out our Health Care Reform section for more on the Affordable Care Act.

    To access your HR library, please visit www.HR360.com/login.


    Health Care Reform Updates provided by:

    Team Nash
    2005 E 2700 St, Suite 140, Salt Lake City, UT 84109
    385-234-6754

    Please Note: The information and materials herein are provided for general information purposes only and are not intended to constitute legal or other advice or opinions on any specific matters and are not intended to replace the advice of a qualified attorney, plan provider or other professional advisor. This information has been taken from sources which we believe to be reliable, but there is no guarantee as to its accuracy. In accordance with IRS Circular 230, this communication is not intended or written to be used, and cannot be used as or considered a ‘covered opinion’ or other written tax advice and should not be relied upon for any purpose other than its intended purpose.

    The information provided herein is intended solely for the use of our clients and members. You may not display, reproduce, copy, modify, license, sell or disseminate in any manner any information included herein, without the express permission of the Publisher. Kindly read our Terms of Use and respect our Copyright.

    Copyright © 2018 HR 360, Inc., All rights reserved.

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  • Nash Insurance Voted One of the Best Insurance Agents in Park City

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  • Short-Term Health Insurance Soon Available For Up to 36 Months

    Effective October 3, 2018, a new rule will allow individuals to purchase short-term, limited-duration health insurance coverage for a period of less than 12 months, and renew such coverage for up to 36 months. Under current law, the maximum coverage period for short-term, limited-duration health insurance is less than 3 months, and these policies cannot be renewed.

    Notably, short-term, limited-duration health insurance is:

    • Not required to comply with the Affordable Care Act’s ban on pre-existing condition exclusions and lifetime and annual dollar limits.
    • Not required to comply with the Affordable Care Act’s essential health benefits requirement, which requires individual health insurance policies to cover, among other things, hospitalizations, emergency services, and maternity care.
    • Not “minimum essential coverage,” meaning that policyholders may remain liable for an individual mandate penalty for any month in 2018.

    Click here to read the new rule. A fact sheet is also available.

     

    Health Care Reform Updates provided by:

    Team Nash
    2005 E 2700 St, Suite 140, Salt Lake City, UT 84109
    385-234-6754

    The content herein is provided for general information purposes only, and does not constitute legal, tax, or other advice or opinions on any matters. This information has been taken from sources which we believe to be reliable, but there is no guarantee as to its accuracy.

    Copyright © 2018 HR 360, Inc., All rights reserved.

    Read more