Healthcare

Newer, smaller healthcare facilities often choose QuickBooks or QuickBooks Online for financial management. The solution offers the basic functionality needed to get operations started. However, as you hire more physicians, expand into new practice areas, and take on new patients, QuickBooks can’t keep up. Before the limitations of this entry-level solution stop growth in its tracks, say goodbye to QuickBooks and hello to a more agile, flexible, cloud-based financial management solution...

Published in Healthcare
Tuesday, 24 April 2018

Can we adopt a health FSA without sponsoring a major medical plan?

Written by Thomson Reuters

Question: Our company has only 35 employees and doesn’t sponsor a major medical plan. Can we adopt a health Flexible Spending Account (FSA) to help our employees pay for unreimbursed medical expenses with pretax salary reductions? If not, is another option available to us? Answer: Unfortunately, your company can’t sponsor a health FSA unless the FSA qualifies as an excepted benefit...

Published in Healthcare
Tuesday, 24 April 2018

IRS revises some 2018 limits because of Tax Cuts and Jobs Act

Written by Thomson Reuters

The IRS has revised several 2018 benefit limits and thresholds to reflect a change in the method of calculating certain cost-of-living adjustments (COLAs) prescribed under the Tax Cuts and Jobs Act (TCJA). The changes affect some of the limits that the agency had previously announced. The key revisions pertain to: Health Savings Accounts (HSAs). The annual HSA contribution limit for individuals with self-only high-deductible health plan (HDHP) coverage remains at $3,450...

Published in Healthcare
Tuesday, 24 April 2018

Disaster planning for health care benefits

Written by Thomson Reuters

Sandy. Harvey. Irma. Maria...

Published in Healthcare

Question: We’re an employer sponsor of an insured major medical plan, and we’ve heard that Section 1557 of the Affordable Care Act (ACA) imposes language-assistance requirements on our plan. Are the language-assistance requirements under the Sec. 1557 nondiscrimination rule different from the “culturally and linguistically appropriate manner” standard that applies to the summary of benefits and coverage (SBC) and claims and appeals notices?   Answer: Each of these rules (Sec...

Published in Healthcare

Earlier this year, the Department of Labor, Department of Health and Human Services and IRS jointly issued proposed regulations that would expand the availability of short-term, limited-duration health insurance. The proposal followed President Trump’s executive order directing the agencies to consider regulations or guidance that would allow such insurance to cover longer periods and to be renewed by the consumer. Longer coverage periods Indeed, the proposed regulations lengthen the maximum permissible coverage period. The agencies are proposing to amend the definition of short-term, limited-duration insurance so that an insurer may offer coverage periods of less than 12 months, including any extensions that may be elected by policyholders...

Published in Healthcare
Monday, 02 April 2018

Answering the call for better mental health benefits coverage

Written by Thomson Reuters

We live in a time of alarming stories about the mushrooming opioid epidemic. Meanwhile, random acts of horrific violence make headlines and dominate the news cycle. Mental health plays a central role in these issues and — of importance to employers — a recent study raises serious concerns about the adequacy of mental health services offered through employee benefit plans. Prevalence of the problem Anxiety and clinical depression are the most common mental health problems, and their prevalence is high and likely growing...

Published in Healthcare
Wednesday, 07 March 2018

Cadillac tax delayed, health insurer fee suspended

Written by Thomson Reuters

In January, Congress passed and the President signed continuing appropriations legislation that includes two important provisions relating to the Affordable Care Act: The Cadillac tax. The effective date of the excise tax on high-cost employer-sponsored health coverage, commonly known as the Cadillac tax, has been delayed until 2022 (in other words, tax years beginning after December 31, 2021). Originally set to take effect in 2018, the Cadillac tax had previously been delayed until 2020. The health insurer fee...

Published in Healthcare
Wednesday, 07 March 2018

Asking “what if?” about a repeal of the employer mandate

Written by Thomson Reuters

Among the many notable provisions of the Tax Cuts and Jobs Act passed late last year was the repeal of the Affordable Care Act’s (ACA’s) individual mandate. In fact, one could even say this news got lost in the shuffle of the slashed corporate tax rates and the changes to individual deductions. But the fact remains that taxpayers will no longer be subject to a penalty if they aren’t covered by a qualifying health plan, effective for months beginning after December 31, 2018. So could the employer mandate be next to go?..

Published in Healthcare
Wednesday, 31 January 2018

Does an employee’s Form W-2 consent also apply to Form 1095-C?

Written by Thomson Reuters

Question: Our company is an applicable large employer (ALE) under the Affordable Care Act (ACA). We’d like to distribute Form 1095-C electronically to employees. If an employee previously consented to receiving his or her Form W-2 electronically, does that consent also apply to Form 1095-C? Answer: No...

Published in Healthcare
Page 4 of 20

Meet The Rehmann Team

Start typing a name ...
Searching for "{{nameQuery}}"...
Start typing an experience ...
Searching for "{{experienceQuery}}"...
Start typing a location ...
Searching for "{{locationQuery}}"...
Or view a list of team members

get rehmann expertise to drive your business in your inbox every week