October 18, 2017
This alert addresses the actions taken by the Trump administration last Thursday. First, the Executive Order calling for the expanded availability of association health plans, short-term insurance plans, and health reimbursement arrangements (HRAs). It also covers the President’s announcement that the government will no longer be reimbursing insurance carriers for cost-sharing reduction (CSR) payments made in connection with Marketplace plans. The Executive Order has no immediate effect as it simply directs other agencies to begin drafting rules; however, the cessation of cost-sharing reduction payments is effective immediately and will halt the upcoming October 18, 2017 payment unless a court intervenes or Congress appropriates the funding.
October 20, 2022
On October 18, 2022, the Internal Revenue Service (IRS) released Revenue Procedure 2022-38, which increases the health flexible spending account (FSA) salary reduction contribution limit to $3,050 for plan years beginning in 2023, an increase of $200 from 2022. Thus, for health FSAs with a carryover feature, the maximum carryover amount is $610 (20% of the $3,050 salary […]
August 14, 2018
The Affordable Care Act (ACA) requires insurers who plan on modifying plan premiums to submit their rates to either the state or federal government for review. This applies to plans included on state and federal healthcare insurance exchanges. The rate review process is designed to improve insurer accountability and transparency. It ensures experts are evaluating whether the proposed rate […]