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A federal district court in Texas has ruled the entirety of the Affordable Care Act (ACA) unconstitutional. However, the decision is expected to be swiftly appealed. In the meantime, pending further legal developments, the ACA remains in effect.
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This nationwide recognition from the Centers for Medicare & Medicaid Services (CMS) as a member of the 2019 Marketplace Circle of Champions highlights Team Nash Insurance’s success in enrolling 20 or more consumers during this Open Enrollment Period.
“Consumers turn to agents and brokers for trusted advice and guidance in selecting plans, enrolling in coverage, and managing their health insurance policies throughout the year,” said Randy Pate, Director of Center for Consumer Information & Insurance Oversight (CCIIO) operation within CMS, which oversees the Marketplace. “We thank [Agent/Broker Name]for their hard work and exceptional service in helping Americans get coverage.”
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.
Eligible consumers can enroll in Marketplace coverage during this year’s Open Enrollment Period, which runs November 1 – December 15, 2018. Consumers with questions about their coverage or who would like help enrolling, can contact Celia Nash here: Link
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The IRS has announced that the amounts employees can contribute to 401(k)s and IRAs will increase in 2019. In particular:
Click here for more information.
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A new proposed rule would permit all employers to offer health reimbursement arrangements (HRAs) to reimburse employees’ individual health insurance policy premiums if certain conditions are met. Currently, many employers are prohibited from offering such HRAs. If finalized, the proposal would be effective for plan years beginning on or after January 1, 2020.
In general, the proposal would permit HRAs to reimburse premiums for individual health insurance policies only if:
Click here for more information on the proposal.
Read moreThe Social Security Administration has announced that, effective January 1, 2019, the maximum amount of earnings subject to the Social Security tax will increase to $132,900, up from $128,400 in 2018. As a reminder, both employers and employees pay a 6.2% Social Security tax on an employee’s earnings, up to the maximum amount of earnings subject to the tax each year.
Click here for more information.
Read moreBeginning September 21, 2018, an updated Summary of Consumer Rights notice must be provided when required under the federal Fair Credit Reporting Act (FCRA). As a reminder, the FCRA requires employers to provide an applicant or employee with this notice before rejecting a job application, terminating an employee, or taking any other adverse employment action based on information in a consumer report.
Click here to view more information and download the updated notice.
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Read moreEmployers who sponsor group health plans that offer prescription drug coverage to Medicare-eligible individuals are reminded that they must provide a Medicare Part D Creditable or Non-Creditable Coverage Notice to those individuals by October 15. This notice serves to inform Medicare-eligible individuals whether the prescription drug coverage offered is “creditable,” meaning it is expected to pay, on average, as much as the standard Medicare prescription drug coverage.
For more information on this notice requirement, including links to downloadable model notices, click here.
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Read moreThe 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:
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.
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Read moreEffective 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:
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.
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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.
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At Team Nash, our number one priority is you, the customer.
