Entries by magdi

What Does the 2024 ACA Affordability Decrease to 8.39 % Mean to You? How Will It Affect Your Health Plans?

With the IRS’s recent updates outlined in Rev. Proc. 2023-29, it’s essential to grasp the key takeaways that will impact the costs of your 2024 employer-sponsored health and prescription drug plans.    To navigate the Affordable Care Act (ACA) effectively, you must be familiar with the three “safe harbors” for determining affordable employer-provided coverage: the […]

Employer’s Guide to ACA Compliance: Best MEC Providers

The Affordable Care Act (ACA) introduced significant changes to the healthcare landscape in the United States. For employers, navigating the complex web of ACA regulations can be challenging. However, compliance is not only necessary to avoid penalties but also essential for the well-being of your employees and the reputation of your company. In this comprehensive […]

Mastering ACA Jargon: ALE Term Guide

Navigating the intricacies of the Affordable Care Act (ACA) can often feel like deciphering a complex code. One of the key aspects that businesses need to understand is the concept of “Applicable Large Employers” (ALEs) and the associated terms.    In this guide, we’ll break down these ALE terms to help you make sense of […]

IRS Increases ACA Employer Mandate Penalties for 2024

In the world of employer compliance with the Affordable Care Act (ACA), 2024 brings significant changes as the IRS increases penalties for noncompliance. Let’s dive into these updates and their practical implications for employers. What is Changing in 2024? In 2024, we can expect to see some noteworthy changes in the realm of noncompliance penalties. […]

Fully Insured vs. Level Funded Plans: A Guide for Qualified ALEs

As a Qualified Applicable Large Employer (ALE), choosing the right employee health insurance plan is crucial for your organization’s financial health and employee satisfaction. Two popular options for providing healthcare coverage to your employees are Fully Insured Plans and Level Funded Plans. In this comprehensive guide, we will delve into the differences, advantages, and considerations […]

The Unwinding of the Medicaid Continuous Enrollment Provision: What You Need to Know

The unwinding of the Medicaid continuous enrollment provision marks a significant change in the Medicaid landscape in the United States. As states regain the ability to initiate disenrollments, it is important to understand the key aspects of this process. From potential coverage losses to addressing eligibility and awareness issues, various factors play a crucial role […]

Maintaining ACA Compliance in 2023: Your Questions Answered

Complying with the Affordable Care Act (ACA) can be a complex task for employers, especially with changing regulations and reporting requirements. It is crucial for organization leaders to stay informed about the latest developments and strategize to ensure ACA reporting and compliance. Even employers who have met ACA requirements without penalties or notices should pay […]

What is the Difference Between Fully Insured and Self-Insured Health Plans?

In today’s complex healthcare landscape, having access to adequate health insurance coverage is of utmost importance. Health insurance provides individuals and families with financial protection against the high costs of medical care, ensuring that necessary treatments, medications, and healthcare services are accessible when needed. It offers a sense of security and peace of mind, safeguarding […]

Reducing Healthcare Costs for Qualified Large Employers

The Gold Standard in Low Cost, High-Care, and Easy-to-Administer Healthcare Plans As a business owner of a Qualified Large Employer (ALE), managing healthcare costs while providing ACA compliant benefits to your employees can be a daunting task. With rising healthcare costs and the ongoing pandemic, finding effective solutions to mitigate expenses has become even more […]