Bulletins

Area insurers (carriers) are beginning to issue 2022 plan year medical loss ratio (MLR) rebates. The Affordable Care Act requires insurers to meet MLR requirements each year. If an insurer doesn’t meet the minimum MLR (spend 80 to 85 percent of its premium dollars on health care or activities that...

Last week, Bukaty Companies issued information concerning the July 31 Patient-Centered Outcomes Research Institute (PCORI) fee deadline, acknowledging the IRS hadn’t updated Form 720 to reflect the $3 fee applicable to some plan years. Yesterday, the updated Form 720 was released.

Each year self-funded plan sponsors must file the Patient-Centered Outcomes Research Institute (PCORI) fee. Applicable employers should use one of four methods to calculate the amount owed and submit the required fee to the IRS using Form 720 by July 31. Detailed guidance on completing Form 720 can...

The IRS recently released Revenue Procedure 2023-17, increasing the annual penalty for employers responsible for providing health insurance coverage to full-time employees as required by the Affordable Care Act (ACA). The coverage requirement is referred to as the employer mandate and applies to...

The Biden Administration announced on January 30 its intent to end the public health emergency and national emergency on May 11, 2023. In March of 2020, President Trump issued the emergency declaration in response to the nation’s COVID-19 crisis. President Biden extended the national emergency...

President Biden signed into law recently two new protections for pregnant employees that take effect this year.

In concert with the recently released IRS final rule, allowing more families to receive premium tax credits (PTCs) through Healthcare.gov, the IRS released Notice 2022-41. The notice allows employers to modify cafeteria plan rules to allow mid-year plan changes when an employee’s household is...

Since our August update on a proposed IRS rule, a final rule was released that eliminates the long- criticized “family glitch” in the Affordable Care Act (ACA). Prior to the new rule, family eligibility for premium tax credits (PTCs) through Healthcare.gov was based on the cost of coverage for an...

The IRS recently issued Revenue Procedure 2022-34, lowering the affordability threshold for the 2023 calendar year to 9.12% of annual household income from the 2022 threshold of 9.61%. This percentage is used to determine an individual’s eligibility for a premium tax credit (PTC) through...

Self-funded plan sponsors must file the annual Patient-Centered Outcomes Research Institute (PCORI) fee by July 31. Employers may select from four calculation methods to determine how much is owed and use Form 720 to submit the information to the IRS. For clarification on how to fill out Form 720...