JULY 2014
 
Tri-Star Systems
benefits briefing
 
COBRA Model Change Notice On May 2, 2014, The Department of Labor (DOL) updated the model notices to let workers know that if they are eligible for COBRA continuation coverage when leaving a job, they may choose to purchase it though the Affordable Care Act's Health Insurance Marketplace instead. Click HERE for the press release.

Model election notice

FAQ
The Obama Administration announced a proposal to clarify the availability of health insurance marketplace coverage to workers eligible for COBRA.
 
$500 FSA Rollover  Use It Or Rollover $500
On October 31, 2013, the US Treasury Department modified its FSA "use-it-or-lose-it" provision to allow rollover of FSA funds up to $500 into the following year's plan. This should help alleviate forfeiture concerns and lead to higher participation and contributions. Take advantage of the new rule to increase your enrollment for next year.
 
Don't Forget About the Tri-Star Mobile App!!!
 
Employer Premium Reimbursement Plans fail to satisfy ACA Requirements IRS Notice 2013-54 concludes that an employer is considered to establish a type of group health plan called an "employer payment plan" if it reimburses employees' premiums for individual health insurance policies. These payment plans are considered to be group health plans subject to the market reform. Because employer payment plans cannot integrate with individual insurance policies, they will violate the   prohibition on annual dollar limits for essential health benefits. Such an arrangement fails to satisfy the market reforms and may be subject to a $100/day excise tax per applicable employee.



Click HERE for more information.
 
Patient-Centered Outcome Research Fee- July 31 Filing Deadline Insurers and Plan Sponsors must pay fees to fund the Institute under the Internal Revenue Code Sections 4375 and 4377. As a result, health plans, including HRA's and employer-contributed FSA's with a plan year ending during the 2013 calendar year are required to file the quarter ending June 30, 2014 Form 720 by July 31, 2014. Insurance carriers are responsible for filing Form 720 and paying PCOR fees associated with fully insured medical plans. Plan Sponsors (generally employers) are responsible for filing and paying PCOR fees associated with self-insured plans, including HRA's and Health Care FSA's*.   Instructions for Form 720 include details on counting covered lives, plans required to file, mailing instructions and more. If you have not already done so, please review the Form 720 instructions , complete and file your Form 720 for the impacted plan year ending in 2013. The completed form and payment must be post marked by July 31, 2014. *Most Health FSA's qualify as an Excepted Benefit. As long as the plan sponsor/employer does not contribute to the Health FSA and a major medical plan is available for the participants, the FSA is an excepted benefit plan and is not subject to PCOR fees on the FSA.
The Affordable Care Act (ACA) established the Patient-Centered Outcome Research Institute (PCOR) which conducts research to evaluate and compare the clinical effectiveness, risks and benefits of medical treatments, services, procedures, drugs or other items to treat, manage, diagnose or prevent illness or injury.
 
IRS Announces 2015 HSA Limits
$3,350 $6,650
Maximum 2015 HSA contribution for individuals Maximum 2015 HSA contribution for families
 
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Ken's Favorite Sayings
"If you help enough people get what they want in life, you will get everything you want."
 
Tri-Star Systems
building benefit solutions