Insurance News

Source: National Association of Health Underwriters

On December 14, U.S. District Judge Reed O’Connor released his ruling on the first of five counts in Texas v. United States. The case challenged the constitutionality of the ACA’s individual mandate in light of the Tax Cuts and Jobs Act of 2017, which zeroed out the individual mandate penalty. Judge O’Connor’s ruling was that […]

On Wednesday, President Trump signed into law ;S. 2553, the Know the Lowest Price Act, and S. 2554, the Patient Right to Know Drug Price Act. The legislation was passed by the House and Senate last month with bipartisan support and will ban “gag clauses” that prevent pharmacists from telling customers when they can save […]

The Summary Plan Description or SPD is an important written document that a plan administrator must provide automatically and free of charge to participants of an ERISA-covered health benefit plan. The SPD provides information on when an employee can begin to participate in the plan, how service and benefits are calculated, when and in what […]

IRS Revenue Procedure 2018-27 returns the annual limit for 2018 HSA family contributions to $6,900. This follows and supersedes Revenue Procedure 2018-18, which was published this past March. The IRS acknowledged that the $50 reduction to the limit on HSA deductions for family HDHP coverage imposed “administrative and financial burdens.” The notice reflected that these […]

The IRS released Revenue Procedure 2018-10 which modifies and supersedes certain sections of Revenue Procedure 2017-58 and supersedes Revenue Procedure 2017-37 to reflect by new tax law (pub. L no. 115-97 enacted December 22, 2017. This law changed the annual inflation adjustment factor from the “Consumer Price Index” (CPI) to a new factor known as […]

Posted on February 9, 2018 by nahucompliance The new tax law passed by Congress and signed by the President does not repeal the individual mandate as many people have assumed. The tax law actually zeroes out the individual mandate penalty. And, importantly, this action takes effect in 2019. The actual law text is: SEC. 11081. […]

A major victory was achieved for health insurance recipients on Monday night in the continuing resolution that is keeping the federal government funded. The package included a moratorium in 2019 of the Health Insurance Tax on all plans and an additional two-year delay of the Cadillac Tax on employer-sponsored health insurance plans until 2022. This […]

Source: National Association of Health Underwriters

Shortly after 1:30 a.m. today, the Senate voted 49-51 to reject the Health Care Freedom Act (HCFA), a “skinny repeal” of the ACA. The pared-down version was attempted after previous efforts to pass a more sweeping repeal of the law have failed. Senate Majority Leader Mitch McConnell (R-KY) began floating the idea early in the […]