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Final 2023 ACA Reporting Instructions and Forms Issued
Nov. 3, 2023 – The IRS has released final 2023 forms and instructions for reporting under Internal Revenue Code Sections 6055 and 6056.
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Employee Benefits Compliance Updates: Gag Clause Attestations & Pay or Play Affordability Percentage
Oct. 4, 2023 – This update cover two employee benefits compliance updates. The first update covers the prohibition of gag clauses under the CAA, and the second update explains the pay or play affordability percentage for 2024.
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Insurance Specialists Team in Big Lake Joins North Risk Partners
Effective July 1, Insurance Specialists Team in Big Lake, Minnesota joined North Risk Partners, one of the largest independent insurance brokers and risk advisory firms…
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2022 PCORI Fees Due July 31, 2023
June 14, 2023 – For those that have a medical plan with an HRA and/or are self-funded, this is a reminder your 2022 PCORI fee is due July 31, 2023.
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HSA/HDHP Limits Increase for 2024
On May 16, 2023, the IRS released Revenue Procedure 2023-23 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2024.
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End of COVID-19 Emergency Periods Impact on Health Plans
Feb. 8, 2023 – The Biden Administration has announced its plan to end the COVID-19 national emergency and public health emergency (PHE) on May 11, 2023.
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Upcoming ACA Reporting Deadlines
Feb. 6, 2023 – Employers subject to Affordable Care Act (ACA) reporting under Internal Revenue Code Sections 6055 or 6056 should prepare to comply with reporting deadlines in early 2023.
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PCORI Fee Amount Adjusted for 2023
Dec. 13, 2022 – The Internal Revenue Service (IRS) has issued Notice 2022-59 to increase the Patient-Centered Outcomes Research Institute (PCORI) fee amount for plan years ending on or after Oct. 1, 2022, and before Oct. 1, 2023.
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IRS Finalizes Change to Family Coverage Affordability Rules
On Oct. 11, 2022, the IRS released a final rule that changes the eligibility rules for the premium tax credit (PTC).
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North Risk Hires Mike Jacobs as Firm’s Twin Cities Division President
On Sept. 12, insurance veteran and seasoned leader Mike Jacobs joined North Risk Partners as the firm’s Twin Cities division president. Jacobs comes to North…
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Requirement to Post Machine-readable Files Begins July 1, 2022
June 17, 2022 – The Transparency in Coverage Final Rules require group health plans and health insurance issuers to disclose on a public website detailed pricing information in three separate machine-readable files (MRFs).
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2021 PCORI Fees Due Aug 1, 2022
June 7, 2022 – For those that have a medical plan with an HRA and/or are self-funded, this is a reminder your 2021 PCORI fee is due Aug 1, 2022, since July 31, 2022, is a Sunday.
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