On December 28, 2015, the IRS announced that deadlines for 2015 Section 6055 and 6056 reporting have been delayed. These deadlines have been extended to give employers and other providers more time to analyze and report coverage information. March 31, 2016: is the new deadline for furnishing Forms 1095-B and 1095-C to employees (previous due
In December 2015, the Department of Health and Human Services (HHS) proposed out-of-pocket maximums (OOPM) for 2017 non-grandfathered health plans. The proposed OOPMs are as follows: Self-only coverage: $7,150 in 2017 (up from $6,850 in 2016) Family coverage: $14,300 in 2017 (up from $13,700 in 2016) The OOP maximum includes an individual’s yearly deductible and
Under the Affordable Care Act (ACA), the Summary of Benefits and Coverage (SBC) and Uniform Glossary was created to help consumers compare coverage options available to them. This disclosure requirement applies to both grandfathered and non-grandfathered plans. Group health plans and health insurance carriers are required to provide the SBC and uniform glossary free of
The Affordable Care Act (ACA) created new reporting requirements under Internal Revenue Code Sections 6055 and 6056, whereby certain employers and insurers must provide information to the IRS about the health plan coverage they offer or do not offer to their employees. On February 8, 2015, the IRS released final versions of forms and instructions
On Dec. 22, 2014, the Departments of Labor (DOL), Health and Human Services (HHS) and the Treasury (Departments) released proposed regulations concerning the summary of benefits and coverage (SBC). The proposed regulations would amend the final SBC regulations from February 2012, and would revise the SBC template, instructions guides and uniform glossary. The SBC template