As part of the Affordable Care Act (or health care reform law), W-2 forms must show the cost of employer-sponsored health coverage. Anthem has provided this suggested communication below that would come from the employer to notify employees of this new entry on their W-2s :
Thursday, January 31, 2013
Friday, January 25, 2013
Draft Application for Health Insurance Coverage
On January 25, 2013, the Centers for Medicare and Medicaid Services (CMS) released draft versions of online and paper applications which consumers will fill out to buy policies in the new health insurance marketplaces, which are slated to begin enrolling people in October.
Drafts of the paper application and a 60-page description of the online version were quietly posted online by the Health and Human Services Department, seeking feedback from industry and consumer groups via the paperwork reduction act (PRA). The government's draft application runs 15 pages for a three-person family. An outline of the online version has 21 steps, some with additional questions.
At least three major federal agencies, including the IRS, will scrutinize your application. Checking your identity, income and citizenship is supposed to happen in real time, if you apply online.
The government estimates its online application will take a half hour to complete, on average. If you need a break, or have to gather supporting documents, you can save your work and come back later. The paper application is estimated to take an average of 45 minutes.
CMS Video of Proposed Application
Drafts of the paper application and a 60-page description of the online version were quietly posted online by the Health and Human Services Department, seeking feedback from industry and consumer groups via the paperwork reduction act (PRA). The government's draft application runs 15 pages for a three-person family. An outline of the online version has 21 steps, some with additional questions.
At least three major federal agencies, including the IRS, will scrutinize your application. Checking your identity, income and citizenship is supposed to happen in real time, if you apply online.
The government estimates its online application will take a half hour to complete, on average. If you need a break, or have to gather supporting documents, you can save your work and come back later. The paper application is estimated to take an average of 45 minutes.
CMS Video of Proposed Application
Thursday, January 24, 2013
Exchange Notification to Employees Delayed
The deadline for employers to notify employees of the availability of Exchanges has been delayed from March 1, 2013, to late summer or fall of 2013. The Department of Labor is considering providing model, generic language that could be used to satisfy the notice requirement. Future guidance on complying with the notice requirement under the Fair Labor Standards Act (FLSA) section 18B is expected to provide flexibility and adequate time to comply.Department of Labor (DOL) Press Release & FAQ's January 24, 2013
Tuesday, January 15, 2013
HHS To Waive, Extend Deadline for Health Insurance Exchanges
HHS Secretary Kathleen Sebelius has announced she will extend or waive the deadline again for states interested in running their own health insurance exchange or partnering with the federal government, the New York Times reports.
Under the Affordable Care Act, Sebelius was directed to determine "on or before Jan. 1, 2013," whether states were prepared to run their own exchanges. However, instead of determining now whether the exchanges are ready, HHS will work with states and set timelines and goals to progress toward creating an exchange.
Gary Cohen, director of the federal Center for Consumer Information and Insurance Oversight, said, "There is no deadline," adding, "We are going to give final approval once states demonstrate that they are able to satisfy all the requirements and meet all the conditions of operating an exchange."
Currently there are 18 Declared State-based Exchange, 7 Planning for Partnership Exchange, and
26 Default to Federal Exchange.
Visit the Henry J. Kaiser Family Foundation's state health facts web page for details on state participation in health insurance exchanges.
Under the Affordable Care Act, Sebelius was directed to determine "on or before Jan. 1, 2013," whether states were prepared to run their own exchanges. However, instead of determining now whether the exchanges are ready, HHS will work with states and set timelines and goals to progress toward creating an exchange.
Gary Cohen, director of the federal Center for Consumer Information and Insurance Oversight, said, "There is no deadline," adding, "We are going to give final approval once states demonstrate that they are able to satisfy all the requirements and meet all the conditions of operating an exchange."
Currently there are 18 Declared State-based Exchange, 7 Planning for Partnership Exchange, and
26 Default to Federal Exchange.
Visit the Henry J. Kaiser Family Foundation's state health facts web page for details on state participation in health insurance exchanges.
Monday, January 7, 2013
Health Insurance Exchanges 101 Guide
As part of the Affordable Care Act (ACA or health care reform law), starting in 2014 ALL Americans must have a minimum amount of health insurance or be taxed by the government. The law also requires each state to have a health insurance exchange where people can buy health insurance coverage. People who don’t get health insurance at work, or can’t afford it, may be able to get it through an exchange. The exchanges do not replace buying health insurance privately. They are simply a new place to shop and buy.
Article: Health Insurance Exchanges 101 Guide
Article: Health Insurance Exchanges 101 Guide
Tuesday, January 1, 2013
IRS Reminders for January 1, 2013
- Itemized Medical Deductions increased to 10%.
- FSA Medical account limit decreased to $2,500.
- Medicare Tax withholding increase.
- W-2 Reporting - Employers who filed 250 or more Form W-2s in calendar year 2011 must report applicable employer-sponsored coverage in Box 12 of the Forms W-2 issued by January 31, 2013.
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