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Insurance

Health plans audited for health care reform compliance

12/18/2012
The health care reform law doesn’t fully kick in for another year. But that hasn’t stopped DOL auditors from scrutinizing group health plans for provisions already in effect, such as the grand­fathering rules and children staying on parents’ plan until they turn age 26.

Need health insurance options for your small business?

11/14/2012

Locate plans that suit your workforce at finder.healthcare.gov. The site, run by the U.S. Depart­­ment of Health and Human Ser­­v­­ices, identifies health insurance carriers serving the small business market in your area.

With Obama re-elected, kick ACA compliance into high gear

11/06/2012
If you were waiting until after last week’s presidential election to begin implementing health benefit changes mandated by the Affordable Care Act, it’s time to kick your planning into high gear. With President Obama’s re-election, the ACA is sure to be fully implemented come 2014. Already, critical compliance deadlines are looming.

Safe harbor protects employers from free-rider penalties

10/30/2012

Under the health care reform law, employers of 50 or more full-time em­ployees during the preceding year will pay free-rider penalties if they don’t offer full-time em­­ployees (i.e., those who work at least 30 hours a week) affordable health benefits. How you determine full-time status is the subject of new IRS guidance.

Cleveland financial firm pushes employees to live healthier

10/29/2012

Execs at Cleveland-based KeyBank figure there’s something to be said for keeping the same medical administrator on staff for more than a decade. In fact, they call it part of their “commitment to wellness.” The organization’s aim: to drive down medical costs by helping employees im­­prove their health and become more involved in their own well-being.

Family health premiums rose 4% to $15,745 in 2012

10/17/2012
Annual premiums for employer-sponsored family health coverage reached $15,745 this year, up 4% from last year, with workers on average paying $4,316 toward the cost of their coverage, according to the Kaiser Family Foundation’s 2012 Employer Health Benefits Survey.

FICA wage base increases to $113,700 for 2013

10/16/2012
The Social Security Administration has announced that the 2013 taxable wage base for the Social Security portion of FICA increases to $113,700. That’s a 3.2% hike over the 2012 wage base of $110,100.

4-step checklist eases open enrollment process

10/11/2012
If you’re like most U.S. employers, your workers sign up for health insurance coverage during a two- or four-week span—known as open enrollment—in late October or early November. If you’re planning open enrollment for your 2013 plan year, follow this checklist.

The cost of new health care law? 14 cents a pizza

10/10/2012
The Papa John’s pizza chain made headlines recently when it became one of the first national businesses to estimate a specific per-customer cost of the Affordable Care Act. CEO John Schnatter figured the law will cost him between 11 and 14 cents more per pizza.

Health premiums up 4% this year; forecast to rise 7% in 2013

10/04/2012
Annual premiums for employer-sponsored family health insurance are averaging $15,745 this year (up 4% from 2011), while worker-only coverage is averaging $5,615 (up 3% from last year), according to a new Kaiser Family Foundation report.