December 2013 Monthly Newsletter
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We hope you all had a lovely Thanksgiving. This is one of my favorite holidays...it brings about discussions of what we are grateful for: our family, good health, a roof over our heads, friends, and food on the table. This is also a time to share with others and help the less fortunate by extending a helping hand.
Over the past several months members of our team have been hard at work hand-knitting hats to give to charity, and this week we donated the hats to our friends at WEAVE to assist mothers without hats for their children. You can find a wonderful photo of WEAVE Executive Director Beth Hassett accepting our donation along with members of our team on our Facebook page.
As an organization, we are thankful and truly blessed to work with and for you, our fabulous clients. Instead of going to "work", at Benefits Done Right we go to make a difference in the lives we touch each day.
We see the complications of health care reform as a calling to educate not only our clients, but anyone looking for information. We have performed these last few months under extreme pressure and workloads knowing you need us now more than ever before. The learning curve is significant with new plan designs, implementations of health care reform strategies, and system integrations. If we find it complicated, I can only imagine how you feel.
In order to keep you informed through all these changes, we have conducted our "Master the Maze of Health Care Reform" webinar series. The next installment of the series, part 6, will take place on Tuesday, December 17th. There will be two separate webinars designed specifically for your group size: one for groups with fewer than 50 Full-Time Equivalent employees (FTEs), and one for groups with 50 or more FTEs. You can sign up for the webinars below:
If you have any questions you'd like addressed during the webinar, please provide them to us ahead of time by replying to this email. It is important we all understand the details and ramifications of the Patient Protection and Affordable Care Act (PPACA). Between our "Master the Maze of Health Care Reform" webinar series and our "Get Covered" workshops, we are committed to keeping you updated. We wish you all a wonderful holiday season. Thank you for the privilege of working together.Best regards,
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Transition Relief for Payroll Reporting
For groups filing fewer than 250 W-2s for the previous calendar year
The Affordable Care Act requires employers to report the cost of coverage under their employer-sponsored health plan, and we have fielded several calls recently with questions about reporting the cost of health insurance on each employee's 2013 W-2.
The IRS released a memo on May 14, 2013, giving employers issuing fewer than 250 W-2s "transition" relief (deferring the requirement) from that reporting until further notice. In the release it states employers will be given at least six months' notice prior to any change in that relief. Since that time, no additional guidance has been released.
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Turn In Your Enrollment Forms Early
Don't wait! Avoid delays and get it done ahead of time
The volume of applications requiring a 12/1/13 effective date have weighed down even the most automated insurance carriers. We are now entering the Affordable Care Act on January 1, 2014, and the volume will be greater than normal.
We strongly encourage our employer groups to submit enrollment forms earlier than usual, preferably a month in advance of the effective date. If you are turning in a last-minute enrollment, please set realistic expectations and let the employee know they are covered but to please not schedule basic wellness appointments for the first two weeks.
Please know that if an employee is not showing up in the insurance system and needs to seek care they can do so using the group number and their social security number. We can and will assist in this process.
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Health FSA Rollover Provision
What you need to know
Last month we discussed the new rollover provision announced in IRS Notice 2013-71 to allow employees to carry over up to $500 of unused Health Flexible Spending Account (FSA) balance. The U. S. Treasury removed the "use it or lose it" restriction for FSA, which should open the door for employees who have been hesitant to engage and reduce the rush to spend at the end of the plan year.
With an annual cap of $2500, this rollover provision will be a useful tool for cash flow. If you choose the $500 rollover, your current contract will need to be amended. The only drawback I see at this point is you cannot have both the grace period of 2-12 months and the rollover provision.
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 "Get Covered" Workshops
Dates and times still available before 1/1/2014
Covered California applications must be submitted by December 23rd in order to be processed by January 1st. Those ineligible for your group coverage should visit our "Get Covered" workshops, which are designed for individuals ineligible for group coverage to learn about the new health care laws. We are passionate about taking individuals from education to enrollment, and there are still plenty of workshops available before the end of the year...don't miss out! The list of available workshops is below; you can register for any workshop here. - Wednesday, December 4th at 5:30 PM
- Thursday, December 12th at 8:30 AM and 1:00 PM
- Friday, December 13th at 11:30 AM and 5:30 PM
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Benefits Done Right Insurance Agency, Inc.
601 University Avenue, Suite 250 / Sacramento, CA 95825
800 482 1817 / 916 568 2345 / fax: 916 564 9228
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