Stay tuned … the second half of this year could bring big changes for the Affordable Care Act.
The COBRA Blog
Tags: aca update
If you have a high deductible health plan and have been wondering about FSA/HSA eligibility issues, this article is for you. It also includes updates on the health plan identifier (HPID) analysis for HRA/FSA plans. Technical stuff for sure, but nevertheless important. All this interesting info comes to us from our friends at ProBenefits, Inc. Thank you, ProBenefits, for helping to keep COBRAGuard readers on the cutting edge of health care reform!
Here’s another insightful Affordable Care Act update from our friend Jason M. Cogdill, Corporate Counsel & Benefits Attorney at ProBenefits, Inc.
One of the many ongoing battles over the Patient Protection and Affordable Care Act (PPACA) involves the federal minimum medical loss ratio (MLR) standards for private insurers. Under this provision, health insurance plans in the small group market are required to spend at least 80 percent of premiums on medical costs and no more than 20 percent on administrative costs (15 percent for the large group market). If a plan fails to meet the minimum MLR standard, the insurer is required to pay rebates to enrollees and policyholders.
For consumers, the end of open enrollment is no big news. We saw it coming, and its meaning is simple: Anyone who doesn’t yet have insurance will just have to wait till the next enrollment period to get coverage (unless they qualify for special enrollment, Medicaid or CHIP).