We are just weeks away from the key implementation phase of the Affordable Care Act, and already we are starting to see how this massive law will affect providers’ incomes. Next Tuesday, join Fraser Trebilcock Attorney, Michael P. James and Crain’s Detroit Business for “Provider Bootcamp”, a comprehensive webinar tackling health care strategies for 2014.
Archive for the ‘Health Care + Benefits’:
December 3rd, 2013
November 22nd, 2013
If your health insurance policy was cancelled in anticipation of the start of the Affordable Care Act, you may soon be able to have it reinstated.
Today, the Michigan Department of Insurance and Financial Services (DIFS) said that after careful review, Michigan is allowing health insurers to reinstate cancelled policies.
November 14th, 2013
President Obama announced today that health insurance policies in the individual and small group markets, which would otherwise be cancelled under the terms of the Affordable Care Act, may be kept for another year without being deemed non-compliant.
However, the extension of current coverage will only occur if the health insurance issuer so chooses. Specifically, “health insurance issuers may choose to continue coverage that would otherwise be terminated or cancelled, and affected individuals and small businesses may choose to re-enroll in such coverage.”
November 13th, 2013
This morning, Fraser Trebilcock teamed up with the Lansing Chamber of Commerce to present a seminar to help employers keep up with changes related to Health Care Reform. Topics included a background on the Affordable Care Act and Health Insurance Marketplace, information on delays, and what changes can be expected in the future.
As keynote speaker, attorney Mike James put together an information presentation, titled “Navigating the ACA Marketplace: Guidance for Small Businesses and Individuals”.
November 11th, 2013
The Department of Treasury and IRS recently released guidance modifying the “use-or-lose” rule for health FSAs and clarifying previous guidance regarding non-calendar year cafeteria plan change in elections.
November 8th, 2013
Fraser Trebilcock Joins the Lansing Regional Chamber of Commerce to Offer a Free Seminar
Fraser Trebilcock is teaming up with the Lansing Regional Chamber of Commerce on November 13th to present a free seminar to help employers keep up with changes related to Health Care Reform. Join us for the fourth presentation in the Business Education Series, titled “Navigating the ACA Marketplace: Guidance for Small Businesses and Individuals”.
When: Wednesday, November 13th
Time: 7:30 a.m. – 9:30 a.m.
Where: University Club of MSU, 3435 Forest Rd, Lansing, MI 48910
October 31st, 2013
The Washington Post reports a critical function of the federal government’s new health insurance marketplace for small businesses has been pushed back for a second time. The Centers for Medicare and Medicaid Services announced that employers will not be able to enroll in plans through the SHOP until the end of November. Under the first delay, small employers were slated to begin enrolling their employees in health insurance plans on Friday, November 1st.
October 29th, 2013
Last week, the Obama administration extended the deadline for individuals to sign up for health insurance before facing tax penalties under the Affordable Care Act (“ACA”) to March 31, 2014. The announcement delays the tax provisions associated with the ACA and gives individuals extra time to purchase health insurance. The delay is a welcomed reprieve for individuals who have struggled to purchase health insurance amidst the failed launch of HealthCare.gov earlier this month.
October 24th, 2013
The ACA stands poised to usher in sweeping changes for many entities. Leaders need answers on how the ACA is going to impact their operations. Multiple regulations and shifting timetables, however, make it difficult to measure – and almost impossible to predict – what those changes can mean for you.
October 18th, 2013
The Patient Protection and Affordable Care Act (ACA) has brought sweeping changes throughout our country since its inception, affecting individuals and businesses alike with countless mandates, and imposing penalties and taxes for noncompliance. In 2014, individuals must secure health care coverage or face taxation. The counterpart to this provision requires employers that employ at least 50 full-time employees (including full-time equivalent employees) (Applicable Large Employers)[i] to offer affordable coverage to their full-time employees or, as with the individual mandate, face a penalty.[ii] Although the employer shared responsibility mandate, found in section 4980H and its related proposed regulations (Pay or Play Mandate), has been delayed until 2015, Applicable Large Employers should waste no time and take this opportunity to carefully strategize their approach toward compliance, including (1) analyzing their employee population, (2) ensuring that coverage is affordable and provides minimum value, and (3) contemplating how and when to calculate full-time employee status, either on a monthly basis or by using the safe harbor look-back provisions (found in the proposed regulations) in which they need to set measurement periods and subsequent stability periods, and decide whether to use administrative periods.[iii] Additionally, many employers must substantially revise their eligibility criteria, amend plan documents, and update policies, procedures, handbooks and other materials to reflect the new standard for full-time eligibility and, if applicable, continuation of coverage during a subsequent stability period. With these mountainous tasks loaded upon employers, one simple question may be forgotten: “Who are my employees?”