Volume 4, Number 6

Enlighten
Tagline
Health Care Reform Updates
IRS Form 720
REMINDER: IRS Releases Revised Form 720 for Payment of PCORI Fee
BSG
  

IRS Form 720 is to be used to pay the Patient-Centered Outcomes Research Institute (PCORI) fee. The fee was mandated by the Affordable Care Act. It applies to specified health insurance policies and to plan sponsors of applicable self-insured health plans for each plan year ending after October 1, 2012 and before October 1, 2019. The fees are based on the average number of lives covered under the policy or plan. While insurance

 
companies pay the fee on behalf of insured plans, self-funded plan sponsors must take action to pay the fee by July 31 of the year following the last day of the policy or plan year to which the fee relates. For most calendar-year plans, the first payment date is July 31, 2013.

 

A copy of Form 720 can be accessed here.

 

Instructions for completing the form can be accessed here.

 

There are nuances to the PCORI fee calculation that may be useful for reducing the fee for a particular year. Please call your BSG account manager with any questions.

Contracts, Compliance, and Research
Calculate 
CMS
  

HHS has issued FAQ guidance clarifying that self-insured health plans with non-calendar plan years may use the Form 5500 counting method to calculate their reinsurance contributions under health care reform. 

  

For further information, please see the QHP Webinar Series FAQs here. Q4 specifically addresses the Form 5500 counting method.  

 

Public 

Public Exchanges Application Shortened

CMS

 

The Centers for Medicare and Medicaid Services (CMS) issued a statement that the public exchange application has been shortened to 3 pages for individuals. The application for families is also said to have been reduced by about two-thirds its original length. The previously released version implied that some individuals and families would need to complete an application as long as 21 pages.  

 

View a copy of the Health Insurance Marketplace Consumer Applications:  

  • Click here for the Individual Short Form
  • Click here for the Family application
  • Click here for the Individual without Financial Assistance application
Wellness
Wellness
Final Rules on Employment-Based Wellness Programs
U.S. Department of Labor
  

The final rules support workplace health promotion and prevention as a means to reduce the burden of chronic illness, improve health and limit growth of health care costs, while ensuring that

 

individuals are protected from unfair underwriting practices that could otherwise reduce benefits based on health status. The final rules will be effective for plan years beginning on or after Jan. 1, 2014.

 

Click here to view the news release.

 

Final regulations are available here.

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Enlighten - BSG Events

 
June 23-26, 2013
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August 13, 2013
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September 15-18, 2013
Click here for more information.
 
   
 

HR360 

 
Special Alert:  BSG clients who have our HR Express service have access to a new Health Care Reform Webinar:
How to Comply with Health Care Reform in 2013 ---- A 5-Step Plan. Click here for more information.
 
 
Client Reminder:More information regarding Health Care Reform and other benefit resources are available on the HR360 website, available to BSG clients under the "Resources" menu of your HR Express website.
BSG subscribes to this service for your benefit. If you would like to learn more regarding this resource, please contact your account management team at BSG. 
  
  
Additional Tools:
  • Pay or Play Toolkit
  • 2013 Health Care Reform Checklist
  • Performance Review Builder 

 

 

 

 

 

 

 

 

 

 

 

 

 

Archive 

  
Click here to view previous articles.  
  
  
  
    

Enlighten is published by The Benefit Services Group, Inc., (BSG®) and is provided free of charge to select BSG client representatives and associates.

  

By providing links to other sites, BSG does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to BSG.

 

The preceding is not intended to be and is not offered as legal advice. We are prohibited from the practice of law. Compliance is the responsibility of the employer or Plan sponsor and affected employees who should seek their own legal counsel regarding questions about information presented in this newsletter.

Copyright© 2013 The Benefit Services Group, Inc. BSG® is a registered trademark of The Benefit Services Group, Inc.

 

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