CARES Act Provision Gives More Flexibility to FSA and HSA Funds

By Robert DeNinno, Jr. | May 29, 2020

Thanks to provisions in the CARES Act — a federal law passed in March 2020 to help give people relief in the wake of the impacts of the coronavirus pandemic — your FSA and HSA dollars are now a little bit easier to spend. The new rules essentially mean you no longer need a doctor’s prescription to use your…

Agencies Extend Employee Benefit Plan Deadlines Providing Relief from COVID-19

By Robert DeNinno, Jr. | May 15, 2020

The Employee Benefits Security Administration teamed up with the IRS to extend employee benefit plan deadlines to provide relief and mitigate compliance issues for benefit plan sponsors, participants and beneficiaries impacted by the COVID-19 pandemic. Extended Employee Benefit Plan Deadline Guidance in Three Documents: A Joint Notice by EBSA and the IRS that extends time frames affecting…

AmeriHealth-Insurance-Employee-Benefits

AmeriHealth Provides Instructions for Deferred Payment Plan for Fully Insured Small Group and Large Group Customers

By Robert DeNinno, Jr. | April 17, 2020

While AmeriHealth encourages all customers who are able to pay their premiums on time to continue to do so, they understand the toll the COVID‑19 crisis is taking on many businesses. AmeriHealth wants to help mutual customers in need with the opportunity to take advantage of a AmeriHealth Deferred Payment Program for fully insured small…

CARES ACT STIMULUS BILL BECOMES LAW

By Robert DeNinno, Jr. | March 27, 2020

On March 27, 2020, President Trump signed H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law. It is the third, and by far the most extensive, measure enacted so far to provide relief and aid related to the COVID-19 pandemic. In includes economic and health coverage protection provisions for individuals, employers, and key…

AFFORDABILITY PERCENTAGE

By Robert DeNinno, Jr. | December 3, 2019

The IRS has lowered the affordability percentage from 9.86% to 9.78%. What does this mean for you? It could mean you, an applicable large employer, are obligated to pay a higher contribution to employee health-care. There are substantial penalties if an employer neglects to put these changes into place this upcoming year. You have three…

THE FIRST $50,000 OF LIFE INSURANCE

By Robert DeNinno, Jr. | October 17, 2019

Many companies provide employer paid group-term life insurance policies when employees sign on to become full-time. What these employers may not realize is that there is a limit to the benefit amount they can provide without tax implications. The IRS states that the first $50,000 of employer paid life insurance is tax-free. However, any employer paid benefit over $50,000 is considered…

OPEN ENROLLMENT

By Robert DeNinno, Jr. | October 15, 2019

October 15th marks the first day of Medicare Open Enrollment. Employees ages 65 and older have the option to switch from their employer provided comprehensive medical package to a government provided Medicare plan. Making this change has substantial potential cost savings. To put this into perspective, let’s look at an example of a 64 year…

HEALTHCARE MOVES FORWARD

By Robert DeNinno, Jr. | March 14, 2017

A month ago, I wrote an article outlining President Trump’s 7 Point Healthcare Plan. This month, the GOP released their healthcare plan, in which we do not see much mention of Trump’s 7 points.  The GOP is using a complex method called budget reconciliation to repeal and replace Obamacare. In short, this method affords a voting advantage to…

THE TRUMP 7-POINT HEALTHCARE PLAN IN 3 MINUTES

By Robert DeNinno, Jr. | February 14, 2017

President Trump has promised the American people a “fabulous” healthcare system. Here is a quick examination of his 7-point healthcare plan: 1. Repeal and Replace Obamacare Originally, this is all we were hearing from Trump and Republican law makers, but new information was released after the GOP retreat in Philadelphia in January. Many Republicans are…