With some state-run exchanges struggling, brokers and agents contemplate whether a national Healthcare.gov is possible and whether that would be a good or a bad thing for the insurance community.
Millions of ACA application inconsistencies come as no surprise to benefit advisers and could trigger an influx of business to brokers from confused 2015 ACA enrollees.
The IRS issued final regulations in March designed to simplify the employer reporting requirements imposed by the Affordable Care Act. Most importantly, the regulations permit combined reporting for the multiple requirements and simplify reporting where a large employer provides affordable group health coverage, which is of minimum value to almost all of its employees. Here's how the new regulations will affect both large and small employers.
The U.S. Centers for Medicare and Medicaid Services has announced training and registration dates, along with requirements, for benefit advisers and brokers who want to enroll small business employers on the federally facilitated SHOP exchange.
Benefit advisers can advise their clients on a recent court case that confirms ERISA penalties will ensue for plan administrators that fail to provide plan documents when requested by a plan participant or plan sponsor.
The IRS this month clarified for benefit advisers and their clients that employers cannot escape ACA penalties and taxes via pre-tax premium reimbursement plans.
Benefit broker compensation problems, an existing health law and a tough exchange board have forced advisers in this state to take a backseat to the implementation of Obamacare.
Evidence shows that more insurers bring down premiums on the ACA exchanges, which could ease conversations benefit brokers have with the uninsured about affordability of coverage.
Final regulations implementing the ACAs nondiscrimination rules for wellness programs became effective in January, but many employers are still unclear about how the regulations have changed. The changes are subtle, but noncompliance can carry heavy penalties.
After a backlash from the broker and agent community, final rules on this topic show some changes from the government agency.
In follow-up to two broker-friendly bills introduced in late March, a group of five U.S. Democratic senators are asking the agency again for changes that will help ACA-certified agents better enroll consumers.
Mirroring a recent HHS initiative, some state-run marketplaces such as Covered California have extended a special enrollment period for COBRA-eligible individuals, allowing them to enroll in a marketplace exchange plan through July.
As the HHS adds more opportunities for consumers to obtain health coverage outside of open enrollment, the broker and agent association says its not enough.
The breakdown of states running their own health insurance exchanges versus those using the federally facilitated marketplace will change in due time but exactly how it will change is still up in the air, said a speaker at Wednesdays National Health Insurance Exchange Summit, held in Washington, D.C.
An increasingly discussed abandonment of the ever-delayed portion of the ACA would not eliminate your employer clients need to comply with the health law.