Health insurance conglomerates like UnitedHealth Group, Aetna, and Anthem administer benefits and process medical claims for thousands of employee
In a November 20, 2017 post, we reported on Massachusetts’ passage of H. 3822, “An Act Further Regulating Employer Contributions to Health Care,” (the
Pundits have written much about the Affordable Care Act's forthcoming Health Insurance Exchanges, but they have paid little attention to employers'
So how does one decide to self-insure a health plan or go the fully-insured route?
The employer responsibility provisions of the Patient Protection and Affordable Care Act generally require “applicable large employers” i.e., those with more than 50 full-time equivalent employees to pay an assessable payment or penalty if any of the employer’s full-time employees is certified to receive a premium tax credit toward, or cost-sharing reduction in connection with, the purchase of health insurance through a state-based insurance exchange.
The Internal Revenue Service has issued proposed regulations implementing health insurance premium tax credits.
On July 6, 2011, the Board of Directors of Blue Cross Blue Shield of Massachusetts (BCBSMA) announced that the company would credit customers some $4.26 million in the form of policy credits on individual and group health policies.
Employers, often including those that are publicly traded, traditionally have used fully insured medical programs to provide coverage for certain current and former executive officers and other key employees under employment agreements, severance arrangements and similar programs established to provide non-uniform coverage for such selected individuals.
In our prior Tax Alert we discussed the application of new nondiscrimination rules to third-party insured health coverage.
Once President Obama signed into law the Patient Protection and Affordable Care Act on March 23, 2010, and the Health Care and Education Reconciliation Act on March 30, 2010, (commonly referred to collectively as the "Affordable Care Act" or "ACA") one of the first provisions of the ACA to go into effect was the creation of a temporary high risk insurance pool program to offer coverage to otherwise uninsurable individuals.