This ACA Overview describes the changes made by the ACA to the rules regarding pre-existing condition exclusions under HIPAA, generally effective for plan years beginning on or after Jan. 1, 2014. The new rules prohibit any pre-existing condition from being imposed by group health plans or group health insurance coverage, and extend this protection to individual health insurance coverage.
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Health Care Reform: Pre-existing Condition Exclusions
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We Are Here For You
Let’s work together to help your business zoom past the competition with excellent health insurance packages for your employees. Contact us today: https://www.nashinsurance.com/contact/
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Resources from Team Nash
If you have ex-employees participating in the COBRA Subsidy through the American Rescue Plan, you will want to read this bulletin.
COBRA Subsidy Notice Due by Sept. 15 (Sooner for Some)
The American Rescue Plan Act provides COBRA premium assistance to eligible individuals and imposes notice requirements on health plans. One such requirement is that plans must notify eligible individuals about when their premium assistance ends, and whether they may be eligible for regular COBRA coverage or coverage under another group health plan. This Legal Update explains further.
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Thank You!
Our attitude is gratitude. We are so grateful for this beautiful town and our wonderful clients. Have a great weekend!
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Stimulus Bill Extends FFCRA Tax Credits but Not Leave Mandate
Employer Credits Available for Leave Offered Through March 2021
An appropriations bill passed by Congress on Dec. 21, 2020, and expected to be signed into law by President Donald Trump does not extend the paid sick leave and expanded family and medical leave mandates created by the Families First Coronavirus Response Act (FFCRA). These leave requirements expire on Dec. 31, 2020.
However, the bill does extend the time limit for employer tax credits for FFCRA employee leave. As a result, tax credits will be available to fund FFCRA leave offered by employers through March 31, 2021.
The FFCRA’s leave mandates require businesses with fewer than 500 employees to provide employees up to 80 hours of paid sick leave for their own health needs or to care for others. The act also requires an additional 10 weeks of paid family leave to care for a child whose school or place of care was closed, or child care provider was closed or unavailable due to COVID-19.
The FFCRA employer tax credits cover certain costs of the employee leave required by the law; specifically: employee wages, health plan expenses allocable to those wages, and the employer’s portion of the Medicare tax related to the wages.
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Thank you!
This Thanksgiving we are so grateful for all of our family, friends, and wonderful clients. It means more now than ever. Thank you!
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Health Care Reform Updates
2020 Furnishing Deadline Delayed and Additional Transition Relief Granted
The IRS has delayed the deadlines by which employers must furnish 2020 Forms 1095-C and 1095-B in early 2021. For 2020, the furnishing deadline was Feb. 1, 2021, Since Jan. 31, 2021, is a Sunday. The IRS has provided an additional 30 days for furnishing the 2020 Form 1095-B and Form 1095-C, extending the due date from Feb. 1, 2021, to March 2, 2021. The deadline for filing with the IRS under Sections 6055 and 6056 remains March 1, 2021 (since Feb. 28, 2021, is a Sunday), or March 31, 2021, if filing electronically.
The IRS provided additional relief from penalties related to failures to furnish 2020 forms to individuals under Section 6055 only, under certain circumstances. Under this relief, employers will only have to provide Form 1095-B to covered individuals upon request.
The IRS also provided a final extension of good-faith relief from penalties related to incorrect or incomplete information returns filed for the 2020 calendar year under Sections 6055 and 6056. This is the last year that the IRS intends to provide good-faith relief from penalties, since it was intended to be transitional relief only.
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Nash Insurance achieves Elite status for enrolling over 100 consumers during Open Enrollment
Nash Insurance has been nationally recognized for our dedication to helping consumers enroll in and manage qualified health coverage through the Health Insurance Marketplace.
This nationwide recognition from the Centers for Medicare & Medicaid Services (CMS) as a member of the 2020 Marketplace Elite Circle of Champions highlights our team’s success in actively enrolling 100 or more consumers during this Open Enrollment Period.
“We thank Celia Nash-Underwood for providing her trusted advice and exceptional service to consumers to help them enroll in coverage,” said Randy Pate, Director of the Center for Consumer Information & Insurance Oversight within CMS, which oversees the Marketplace. “Helping 100 consumers during the Open Enrollment Period is an achievement to be proud of.”
The Marketplace Circle of Champions program recognizes the hard work, expertise and service of Marketplace-registered agents and brokers. Agents and brokers who assist 20 or more consumers qualify for the Marketplace Circle of Champions – with those who enroll 100 or more consumers earning the Elite designation.
Eligible consumers can enroll in Marketplace coverage during this year’s Open Enrollment Period, which runs November 1 – December 15, 2019. Consumers with questions about their coverage or who would like help enrolling, can contact Celia at celia.nash@teamnash.biz.
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Coronavirus and the Workplace – Compliance Issues for Employers
As the number of reported cases of the novel coronavirus (COVID-19) continues to rise, employers are increasingly confronted with the possibility of an outbreak in the workplace. This document provides a summary of the compliance issues facing employers in this type of situation.
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Legislation Requires Two Types of Paid Employee Leave
On March 18, 2020, the U.S. Senate passed a coronavirus relief bill, called the Families First Coronavirus Response Act, that was passed by the House of Representatives over the weekend. President Trump is expected to sign the bill into law.
Paid Sick Leave
Among other measures, the law requires 80 hours of paid sick leave for government workers and employees of companies with fewer than 500 employees. Compensation caps apply.Leave would be available to workers who:
- Are or may be sick with COVID-19;
- Have to care for a family member with the illness; or
- Have a child whose school or child care facility is closed (or whose child care provider is unavailable) due to the illness.
Paid FMLA Leave
The bill would also require partially paid leave under the Family and Medical Leave Act when an employee is unable to work or telework due to a school or child care closure related to the coronavirus.This benefit would be available to individuals who have worked for their employer for at least 30 days.
Benefits under the law expire Dec. 31, 2020.
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