Welcome to the October edition of Benefits Buzz! In this issue, we dive into the latest topics related to employee benefits, wellness programs and ever-evolving workplace dynamics. Stay informed and gain insights that help you make the most of your benefits package.  This month's highlights  Topic #1: Medicare Part D notices were due Oct. 15.  Topic #2: ACA pay-or-play penalties will increase for 2026  Download the full story  For an in-depth look at this month's topics, download the PDF below. Dive deeper into the advice and guidance that can help you leverage your organization’s benefits to their fullest potential. Don't miss out on valuable insights that could improve your professional and personal life.  [Download the Full Story PDF]   Stay informed, stay empowered and make the most of your benefits with Benefits Bu...

  U.S. Health & Human Services Department (HHS) recently published a final rule that updates how the Affordable Care Act (ACA’s) maximum annual limitation on cost sharing is calculated. Based on this update, HHS revised the maximum cost sharing limits to $10,600 for self-only coverage and $21,200 for family coverage for 2026 plan years.   [Get the legal update here]  Questions?   If you have questions, contact TruePlan . Our team of advisors can help you with questions within the scope of employee benefits .     This content is for informational purposes only. It has been partially generated from an AI language model, which may not always be exhaustive or tailored to individual circumstances. We encourage you to contact one of our experts for more information. We assume no liability arising from any use of this content. 

The Affordable Care Act (ACA) requires health insurance issuers and self-insured plan sponsors to pay Patient-Centered Outcomes Research Institute fees (PCORI fees) annually, using IRS Form 720. This update provides an overview of Form 720 and full payment of the PCORI fees, which are due by July 31 for plan years ending in 2024.   [Get the whole PDF update here]   Key details to keep in mind  Annual filing: PCORI fees must be reported and paid using IRS Form 720, the Quarterly Federal Excise Tax Return.  Upcoming deadline: For plan years ending in 2024, the payment and filing are due by July 31.  Coverage period: Fees apply to plan years that ended during the previous calendar year.  Who must pay: Both fully insured and self-insured group health plans may be subject to the fee, with filing responsibility typically falling on the employer for self-insured plans.  Employers should review their plan year end dates and ensure timely compliance to avoid p...

Compliance missteps in health plan administration can be expensive and time-consuming, but many organizations make the same avoidable errors year after year. From failing to meet ACA reporting requirements to misclassifying employees, these mistakes can trigger audits, penalties and operational headaches.  Is your organization at risk? Compliance resources can keep you on track  In our latest resource, Common health plan compliance mistakes to avoid , we break down the top errors and provide actionable strategies to keep your health plan on track.  [Download the full guide]    Check out some of our additional compliance resources. First, make sure you have these 2025 health compliance deadlines on your calendar. Then, explore some top tips for employers in this human resource compliance guide .  This content is for informational purposes only. It has been partially generated from an AI language model, which may not always be exhaustive or tailored to indiv...

Attention HR professionals! If your organization is subject to Affordable Care Act (ACA) reporting, it’s time to gear up for the upcoming deadlines. Staying compliant with IRS regulations is crucial and knowing the timelines can help you avoid last-minute stress.   [Read the Full Article Now to Get Prepared]   What to know for 2024 calendar year reporting  Electronic filing deadline: File returns electronically by March 31 . Filing on paper? The deadline was Feb. 28 . Remember, employers filing 10 or more returns must do so electronically.   Individual statements: Statements were required to be furnished upon request by Jan. 31 or within 30 days of receiving the request , whichever is later. Alternatively, employers needed to submit statements by March 3 if they chose not to follow the on-request distribution method.  [Get the Full Story]   Additionally, a notice with information on obtaining these statements should have been posted on your website ...

Welcome to the February 2025 edition of Benefits Buzz ! In this monthly issue, we dive into the latest topics related to employee benefits, wellness programs and ever-evolving workplace dynamics. Stay informed and gain insights that help you make the most of your benefits package.  This month's highlights  Topic #1: An overview of the new ACA reporting and penalty relief laws.   Topic #2: News on DOL increased civil penalty amounts for 2025.  Download the full story  For an in-depth look at this month's topics, download the PDF below. Dive deeper into the advice and guidance that can help you leverage your benefits to their fullest potential. Don't miss out on valuable insights that could improve your professional and personal life.  [Download the Full Story PDF]   Stay informed, stay empowered and make the most of your benefits with Benefits Buzz! Be sure to follow us on LinkedIn for monthly updates and never miss out on the latest in benefits n...

The Affordable Care Act’s (ACA) requirements continue to evolve, bringing critical updates for employers sponsoring group health plans. For 2025, new rules and thresholds are taking effect, impacting affordability percentages, cost-sharing limits and reporting requirements.  Access your checklist today and continue learning about this year’s key updates.  Key updates for 2025  Affordability percentage: Slight increase under the employer mandate, offering applicable large employers (ALEs) more flexibility with employee contribution rates.  Cost-sharing limits: Adjusted for essential health benefits.  Reporting deadlines:   March 3, 2025: Individual statements for 2024 must be provided.  March 31, 2025: Electronic IRS returns for 2024 are due.  Employers must review and update health plan documents, including the summary of benefits and coverage (SBC), to reflect these changes. Additionally, clear communication during open enrollment will be e...

The Affordable Care Act created reporting requirements under Internal Revenue Code Sections 6055 and 6056. Under these rules, certain employers must provide information to the IRS about their employees' health plan coverage (or that the organization does not offer health plan coverage). However, things are set to change in the new 2024 ACA reporting requirements. In the original rules, any reporting entity that was required to file at least 250 individual statements under Sections 6055 or 6056 had to file electronically. However, on Feb. 23, 2023, the IRS released a final rule implementing a law change in the Taxpayer First Act of 2019, which lowers the 250-return threshold for mandatory electronic reporting to 10 returns. This means most reporting entities will be required to complete their ACA reporting electronically starting in 2024. This ACA blog describes the process for reporting electronically under Sections 6055 and 6056. Action steps Employers that are subject to the AC...

  Since the Affordable Care Act was enacted in 2010, many reforms have been made to group health plan coverage. To make reviewing ACA group health plan requirements easier, download this ACA 2024 compliance checklist . If you have additional questions, TruePlan’s team of experts is here to assist. Contact us today to get the answers you need or to review your current employee benefits plan .