VCG’s VANTAGE
A view into the latest Benefits and HR topics
4Dec 2018

IRS Extends ACA Reporting Deadline (Again)

Authors: |Administration, Benefits, Communications, Compliance, In The Know, Technology|0 Comments

In the recently released Notice 2018-94, the IRS provided reporting relief for employers for the 2018 calendar year.  Here are the key points. The due date for providing Forms 1095-C or 1095-B to employees and individuals is extended 32 days to March 4, 2019 Despite the extension, the IRS is encouraging reporting entities to furnish Form 1095-B and 1095-C statements [...]

15Nov 2018

IRS Announces 2019 Health FSA and Commuter Contribution Limits

Authors: |Administration, Benefits, Compliance, In The Know|0 Comments

The IRS announced annual adjustments to Health Care Flexible Spending Accounts and Parking and Transit Accounts. Benefit Plan 2018 Limit 2019 Limit Health FSA $2,650/year $2,700/year Parking and Transit Account $260/month $265/month   Employers are not required to increase their Health FSA to reflect the new limit.  It may not be administratively feasible for groups who have completed or are [...]

2Nov 2018

Required Reporting, Disclosures and Notices for Group Health Plans

Authors: |Administration, Benefits, Communications, Compliance, In The Know|0 Comments

Participants must be provided with various notices in connection with an employer’s group health plan.  The notices are required at certain intervals including initially, upon annual open enrollment and at termination. Notices with Initial Enrollment Materials Notice of Exchange Availability. This notice must contain certain basic information about the employer’s group health coverage so the employee can share that information [...]

23Oct 2018

Annual Enrollment Checklist

Authors: |Benefits, Communications, Compliance, Human Resources, In The Know|0 Comments

For employers operating their group health plans on a calendar year basis, now is the time of the year to prepare for open enrollment with respect to group health and welfare benefits.  Typically, the focus is on evaluating the services and performance of vendors, renewing rates and considering design changes.  In addition to these items, it is important for employers [...]

20Sep 2018

Medical Loss Ratio (MLR)

Authors: |Administration, Benefits, Communications, Compliance, In The Know|0 Comments

The Affordable Care Act (ACA) requires health insurance issuers to spend a minimum percentage of premium dollars on medical care and health care quality improvement, which is intended to lower the cost of care. This percentage is known as "medical loss ratio" (MLR). In the large group insurance market, the required MLR is 85%; the small group and individual markets [...]