Pay Adjustments That Impact ACA Affordability
Compensation changes that occur throughout the year can affect whether an employer's health coverage continues to satisfy the ACA's affordability requirements
Question of the Week - PCORI Fee for Insured Plan
No need to file or pay the PCORI fee for fully-insured group health plans. The insurer takes care of it. Learn more here.
Q.- We offer a fully-insured group health plan. Do we have to file information about our plan and pay the PCORI fee?
A.- No. The insurer pays the PCORI fee for fully insured group health plans.
Benefit Allocation Systems (BAS) provides online solutions for: Employee Benefits Enrollment; COBRA; Flexible Spending Accounts (FSAs); Health Reimbursement Accounts (HRAs); Leave of Absence Premium Billing (LOA); Affordable Care Act Record Keeping, Compliance & IRS Reporting (ACA); Group Insurance Premium Billing; Property & Casualty Premium Billing; and Payroll Integration.
MyEnroll360 integrates with major insurance carriers for enrollment eligibility management (e.g., Blue Cross, Blue Shield, Aetna, United Health Care, Kaiser, CIGNA and others), and with leading payroll platforms for enrollment deduction management (e.g., Workday, ADP, Paylocity, PayCor, UKG, and others).
This article is for informational purposes only and is not intended as legal, tax, or benefits advice. Readers should not rely on this information for taking (or not taking) any action relating to employment, compliance, or benefits. Always consult with a qualified professional before making decisions based on this content.
Newly Married Spouse Reimbursement
A health FSA cannot reimburse an employee for a spouse's expenses paid before the marriage — dependent status is determined when the expense was incurred, not when it's submitted.
Practical Steps Employers Can Take to Reduce ACA Penalties
Most ACA penalties stem from operational issues that occur throughout the year, not just year-end reporting.