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March23, 2010
Availabilityof small business tax credits:
If you offer your workforce health insurance and employ
fewer than 25 full-time equivalent employees, your
businessmay be eligible for theSmall BusinessHealth
Care TaxCredit.
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Formore information about these credits
visit
January 1, 2011
Availabilityof SIMPLE cafeteriaplans:
SIMPLE cafeteria plans are a newway for small
businesseswith 100 or fewer employees to savemoney.
These plans allow employees topay their portion of health
insurance premiums and other eligible benefits, such as
contributions to flexible spending accounts, with pre-tax
dollars. As an employer, you can take advantage of this
option to save on the employer portion of FICA, FUTA
andworkers’ compensation insurance premiums.
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Restrictionon reimbursement of over the counter
(OTC)medicines:
Tax favoredplans, including health flexible spending
arrangements (FSAs) and health reimbursement
arrangements (HRAs) cannot be used to reimburseOTC
medicines.
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August 1, 2012
Women’s preventive care requirements:
Nongrandfathered group health plans are required to offer
preventive coverage towomenwithout cost-sharing for
plan years beginning on or after August 1, 2012. Certain
religious employers are exempt from the requirement to
offer contraceptive coverage, and othersmay qualify for
a one-year delay or special accommodation.
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Medical LossRatio rebatedistribution:
Majormedical insurers that did notmeet the newmedical
loss ratio (MLR) requirementswere required to issue the
first rebates topolicyholders by August 1, 2012. Inmost
cases, it is the employer’s responsibility todistribute the
participant portionwithin threemonths of receiving the
rebate. The details on distribution depend on the type of
plan offered (e.g., church plan, ERISA, etc.).
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In the future,
any rebates duemust be paidby August 1of each year.
Formore information, visit thesewebsites:
•Department of Labor website at
.
• Internal RevenueServicewebsite at
September 23, 2012
New summaryof benefits:
Majormedical insurers began sending all benefits enrollees
and applicants a new summary of benefits booklet
and coverage notice to explain their benefit plans and
coverage. If your business has a self-fundedplan, you
will be required toprovide the new summary for annual
enrollment periods on or after September 23, 2012, as
well as all other enrollments for plan years beginning on or
after January 1, 2013.
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Try these helpful sites:
•Department of Labor sample template:
•Template FAQ and help:
October 1, 2012
Patient-CenteredOutcomesResearch Institute
(PCORI) fee:
Startingwith plan years ending on or after October 1,
2012, issuers andplan sponsors are required topay a
new fee for each coveredbeneficiarywith the fee going to
thePCORI fund.
The fundswill help contribute to research that evaluates
and compares health outcomes and clinical effectiveness,
and the risks andbenefits of two ormoremedical
treatments and/or services. Since the fee is treated as an
excise tax, it is filed through IRS Form 720. ThePCORI fee
is $1per coveredbeneficiary for the first year, and for the
first year was due July 31, 2013.
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Milestones already inplace:
