Blog Archives

• IRS Updates Guidance on Play-or-Pay Penalty Assessments | Florida Benefit Advisors

  Posted on December 13th, 2017

  Beginning in 2015, to comply with the Patient Protection and Affordable Care Act (ACA), “large” employers must offer their full-time employees health coverage, or pay one of two employer shared responsibility / play-or-pay penalties. The Internal Revenue Service (IRS) determines the penalty each calendar year after employees have filed their… Read more »

• HRAs, HSAs, and Health FSAs – What’s the Difference? | Employee Benefits Florida

  Posted on February 25th, 2016

  By Danielle Capilla Chief Compliance Officer at United Benefit Advisors Health reimbursement arrangements (HRAs), health savings accounts (HSAs) and health care flexible spending accounts (HFSAs) are generally referred to as account-based plans. That is because each participant has their own account, at least for bookkeeping purposes. Under the tax rules,… Read more »

• Minimum Value: HRA Contributions and Flex Credits | Jacksonville Benefits Broker

  Posted on February 11th, 2016

  By Danielle Capilla Chief Compliance Officer at United Benefit Advisors The Internal Revenue Service (IRS) recently issued a final rule that clarifies various topics relating to the Patient Protection and Affordable Care Act (ACA) and premium tax credit eligibility provisions. Mirroring guidance from IRS Notice 2015-87, the final rule clarifies… Read more »

• Cafeteria Plans: How to Handle Participant Contributions | Jacksonville Employee Benefits

  Posted on October 22nd, 2015

  By Danielle Capilla Chief Compliance Officer at United Benefit Advisors Cafeteria plans, or plans governed by IRS Code Section 125, allow employees to pay for expenses such as health insurance with pre-tax dollars. Employees are given a choice between a taxable benefit (cash) and specified pre-tax qualified benefits, for example,… Read more »

• Temporary Safe Harbor for Online Posting of SBCs | Florida Employee Benefits

  Posted on October 15th, 2015

  By Danielle Capilla, Chief Compliance Officer at United Benefit Advisors A Summary of Benefits and Coverage (SBC) is a four-page (double-sided) communication required by the federal government under the Patient Protection and Affordable Care Act (ACA). It must contain specific information, in a specific order and with a minimum size… Read more »

• Perfect Attendance! How to Handle Leaves of Absence under the ACA | FL Benefits Broker

  Posted on October 13th, 2015

  By Danielle Capilla Chief Compliance Officer at United Benefit Advisors The Patient Protection and Affordable Care Act (ACA) requires applicable large employers (ALEs) to offer full-time employees health coverage, or pay one of two employer shared responsibility penalties. An ALE is an employer with 50 or more full-time or full-time… Read more »

• IRS Notice on Minimum Essential Coverage Reporting | FL Employee Benefits

  Posted on October 9th, 2015

  By Danielle Capilla Chief Compliance Officer at United Benefit Advisors Minimum essential coverage or “MEC” is the type of coverage that an individual must have under the Patient Protection and Affordable Care Act (ACA). Employers that are subject to the ACA’s shared responsibility provisions (often called play or pay) must… Read more »

• IRS Proposes Minimum Value Rule Change to Mesh IRS and HHS Rules | FL Employee Benefits

  Posted on September 29th, 2015

  Posted by Danielle Capilla Beginning in 2015, under the Patient Protection and Affordable Care Act (ACA), large employers must offer affordable, minimum value coverage to their full-time employees or potentially pay a penalty. Some companies have or had been marketing a plan that they state satisfies the minimum value requirement… Read more »

• IRS Releases Draft 2015 Instructions for 6055/6056 Reporting | Florida Employee Benefits

  Posted on September 14th, 2015

  By Danielle Capilla Chief Compliance Officer at United Benefit Advisors Under the Patient Protection and Affordable Care Act (ACA), individuals are required to have health insurance while applicable large employers (ALEs) are required to offer health benefits to their full-time employees. In order for the Internal Revenue Service (IRS) to… Read more »

• UBA Survey Finds Self-Funded Pharmacy Plans Have Increased Nearly 30 Percent in Five Years | Florida Benefits Broker

  Posted on September 10th, 2015

  By Bill Olson Chief Marketing Officer at United Benefit Advisors As a result of the Patient Protection and Affordable Care Act (ACA) triggering cost increases for fully insured employer-sponsored health insurance plans, more employers are moving to a self-funded model for pharmacy plans, particularly among large employers (1,000+ employees), according… Read more »