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Legislation Update - 1/24/2016

It is our pleasure to communicate some important employee benefits compliance news this month.  Change continues at a rapid pace in our industry.  The updates summarized below were addressed during NAHU’s live webcast held earlier this month.  Access to both the audio and hand-outs are available to members directly on our website.


New Rules for the New Year and Other Compliance Concerns - January 14, 2016

Click here to view the PowerPoint.

With your help – we accomplished a lot of great work in 2015 on a host of issues affecting your business, including: allowing states to define their own small-group market, repeal of the employer auto-enrollment provision, a two-year delay of the Cadillac tax on healthcare plans, a one-year reprieve in the health insurance tax, and stopping Medicare premium and deductible increases on seniors.

As we launch into a new year and legislative session, however, we realize our work is not done! We believe our top priorities are passing legislation to support the issues summarized below.  A full list of federal policy priorities can also be found here.

In closing, we highlight our fast-approaching annual symposium event.  This event is typically held in late summer but we have chosen to move the event to occur in May this year.  Please save-the-date on your calendar and be on the look-out for registration details which will be out shortly!

What:  2016 Iowa Association of Health Underwriters (IAHU) Annual Symposium:
“IN IT TO WIN IT”
When:  May 10th-11th, 2016
Where: Prairie Meadows — Altoona, IA

To stay current on top issues affecting our industry and join our voice in supporting favorable change, please consider emailing your questions and issues to [email protected]

IAHU, Government Relations

 

September 9, 2015

There are a number of important federal policy priorities being organized at NAHU coming out of last month’s recess.  Your dedicated Government Relations committee is reaching out to summarize key regulatory challenges that deserve your attention as we quickly move toward 2016. 

As the health care law stands today – certain market reforms discourage employer-sponsored coverage by creating unnecessary expense and administrative burden.  If you attended the 2015 annual IAHU Health Care Symposium (Prairie Meadows, Altoona, IA) – you heard from local and national healthcare policy experts.  Beyond the employer group segment, these experts shared their concern for individual insurance consumers.  A key consideration is parity related to the tax treatment of premiums for both group and individual policy holders. 

Please consider the following legislative priorities:

From the list, one of the most relevant challenges pertains to the fast approaching deadlines associated with the incoming ACA reporting requirements under IRC Sections 6055 and 6066.  There are significant financial penalties associated with non-compliance, which have recently changed.  Our friends at NAHU recently facilitated a webinar that provided insights on these requirements – the webcast, hand-outs and Q&As are located below.  (Note, you’ll need your NAHU user ID/password log-in details to access the webcast.)

A Deep Dive into PPACA's Employer Reporting Requirements - August 6, 2015
The employer reporting requirements are right around the corner and employers need to be taking steps now to be ready to comply with the requirements when they take effect. Next week we'll help walk you through the requirements under IRS Section 6055 and 6056 and the forms 1095-B, 1094-C and 1095-C. This webinar will also review penalties for non-compliance, which have recently changed, and things to consider when evaluating possible vendors. 

Click here to view the PowerPoint.
Click here to view the Questions and Answers document.


Immediately following NAHU’s webinar – on August 7, 2015, the Internal Revenue Services (IRS) released revised drafts of 2015 Forms 1095-B and 1095-C, as well as draft sets of Instructions for the 2015 Forms 1094-B, 1095-B, and Forms 1094-C and 1095-C. The forms will be used to fulfill the requirements specified in the final regulations implementing the reporting of minimum essential coverage (MEC) under Internal Revenue Code (IRC) Section 6055, and the reporting of health insurance coverage applicable large employers under IRC Section 6056.

H.R. 2712 and S. 1996 would ease the compliance reporting requirements for employers offering health insurance coverage to their employees. In addition to getting ourselves up-to-speed on the compliance requirements, we can also urge a member of Congress to cosponsor H.R. 2712 and Senators to cosponsor S. 1996! 

For more information on the employer reporting requirements or other federal policy priorities, click here.  We are committed to influencing favorable and lasting change – and next year is a really big deal!  We hope that you will join us in our fight to serve our industry. 

Please email questions or feedback to us at [email protected].

Regards,

IAHU, Government Relations

 

August 14, 2015 - Coming Soon - 2016 Legislation We're Working Towards