by Joe Hughes | Aug 1, 2024 | Blog, Smart
Group health plans often provide eligible employees with two regular opportunities to elect health coverage—an initial enrollment period when an employee first becomes eligible for coverage and an annual open enrollment period before the start of each plan year. To...
by Joe Hughes | Jun 1, 2024 | Blog, Smart
The Affordable Care Act (ACA) prohibits group health plans and group health insurance issuers from applying any waiting period that exceeds 90 days. This means that, after an individual is determined to be otherwise eligible for coverage under the terms of the plan,...
by Joe Hughes | Apr 1, 2024 | Blog, Smart
One way an employer can reduce its liability risks is to ensure that its supervisors have the knowledge and tools necessary to comply with all applicable employment laws. This can be achieved by providing supervisors with regular training on what they are expected and...
by Joe Hughes | Feb 1, 2024 | Blog, Smart
The Affordable Care Act (ACA) requires health insurance issuers and self-insured plan sponsors to pay Patient-Centered Outcomes Research Institute fees (PCORI fees). The fees are reported and paid annually using IRS Form 720, the Quarterly Federal Excise Tax Return....
by Joe Hughes | Dec 1, 2023 | Blog, Smart
On May 9, 2024, the IRS released Revenue Procedure 2024-25 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2025. The IRS is required to publish these limits by June 1 of each year. These limits...
by Joe Hughes | Oct 1, 2023 | Blog, Smart
There are three basic types of medical savings accounts: health savings accounts (HSAs), health flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs). Although these accounts all provide a tax-advantaged way for employees to pay out-of-pocket...
