Cigna Anthem Merger may not get done

FROM LIFEHEALTHPRO: Bloomberg) — Cigna Corp.’s acquisition by health-insurance rival Anthem (NYSE:ANTM) may not be approved this year, Cigna (NYSE:CI) said Friday in a regulatory filing. Shares of both companies declined. An analyst said the delay could be a sign of trouble for the deal, which is one of two pending health insurance combinations being scrutinized by regulators. Regulators have expressed concern …

HSA limits for 2017 released

2017 HSA Contributions The IRS issued Rev. Proc. 2016-28 establishing the 2017 contribution limits for Health Savings Accounts. Individuals with self-only coverage under a high-deductible health plan will be permitted to contribute $3400 (up $50 from 2016), and $6,750 for individuals with family coverage under a high-deductible health plan.  The out-of-pocket maximums for 2017 will remain the same at $6550 …

Will Health Insurance Premiums jump next year?

Thats the argument made by Fortune Magazine in a recent article.  Several of the initial cost-control measures expire shortly. The law included 3 mechanisms to keep premiums down – risk adjustment, reinsurance, and risk corridors.  These were designed to give some stability as carriers were setting premiums in a new environment for which there was only limited rate experience.  The …

Should you self-fund your benefits plan?

Level funding, and self-funding, are becoming commonplace in the small business community.  It provides a way to soften the blow of Obamacare’s regulations, provides more flexibility, and can lower costs significantly – we have seen groups premiums lowered 30% or more.  Here are a two things to consider that would make you a good candidate: Stability-  If you company is fairly …

Changes to Retirement Plan Audits

Recent rules changes have refocused the IRS on what they are calling a “focused examination.”  In a “focused examination” the IRS will look at the employers “internal processed and controls regarding pre-determined areas of compliance” such as investment policy statement, investment committee, eligibility, vesting and distributions.”  If they find no problems in those areas they will move on to another …

OSCAR HEALTH loses 105 million

(Bloomberg) — Startup Oscar Health Insurance Corp. lost $105.2 million in its New York and New Jersey businesses last year, a sign that insurers of all sizes are struggling in the new markets created by the Patient Protection and Affordable Care Act (PPACA). The losses, $92.4 million in New York and $12.8 million in New Jersey, were disclosed by Oscar …

1095 form instructions for waivers

We came across this helpful piece from NAHU to pass along in regard to filling ACA reporting forms for Employers.  This goes into how to list employees who waive coverage on the 1095 form.  Also they make important mention on the need to collect waivers each open enrollment period!!   Compliance Cornered: Employer Reporting When Employee Waives Coverage : Employer …