Health Insurance Exchanges Reach One Month Anniversary – Open enrollment for the Health Insurance Marketplaces (also known as Health Insurance Exchanges) commenced on 10/1/2013 in preparation for the January 1, 2014 mandate for individuals to be covered by health insurance. The Health Insurance Exchanges are divided into two main sections: the Marketplace (for Individual Coverage) and the SHOP (for … Read More
The “PCORI” Fee May Take Some Employers By Surprise.
Under the Affordable Care Act, some employers are set to face a July 31 deadline to pay a new fee. The fee, known as the PCORI (Patient-Centered Outcomes Research Institute) fee must be paid by employers who sponsor self-insured health plans, including health reimbursement arrangements and flexible spending arrangements. Although the fee doesn’t amount to very much financially, it will add compliance and … Read More
Notice of Exchanges and Subsidies Deadline
The Notice of Exchanges and Subsidies Deadline was due- By October 1, 2013, virtually all US employers (regardless of size or whether the employer offers a health plan) are required to distribute a Notice of Exchanges and Subsidies to each employee (regardless of part-time, temporary, full-time or health plan enrollment status). Additionally, beginning on October 1, 2013, this notice must … Read More
Obama administration delays major requirement of health law
Recently, a key part of the ACA was postponed. Find out what that means for you as a business owner. http://www.timesdispatch.com/news/national-world/obama-administration-delays-major-requirement-of-health-law/article_07a72d81-3277-507b-91de-761549e47657.html
Are you looking for a local payroll service company
Additional Medicare Tax: An additional Medicare tax will impact employers and payroll service providers. The Patient Protection and Affordable Care Act (PPACA) increases the Medicare tax rate on wages by 0.9% (from the current rate of 1.45% to 2.35%) for higher-income individuals starting in 2013. This Medicare payroll tax increase applies to wages over $200,000 for single tax filers and … Read More