In October, a bipartisan group of senators introduced a bill that would ease the ACA reporting mandates for employer-sponsored health plans. The bill would roll back the reporting requirements of Section 6056 and replace them with a voluntary reporting system. The bill would also allow payers to transmit employee notices electronically rather than having to send paper statements by mail.
While self-funded health plans must now comply with Sections 6055 and 6056, it is not yet clear how the bill would affect Section 6055 requirements. Senators Rob Portman of Ohio and Mark Warner of Virginia, sponsors of the bill, say their proposal would give the government a more effective way of applying premium tax credits to consumers who purchase insurance through an Exchange, something the administration has been trying to accomplish.
These days, managing an employee health benefit plan is NOT just that – companies face numerous reporting and compliance challenges that are continuously changing, which, in turn, has changed the game. And, the Affordable Care Act (ACA) has only upped the ante.
At EBSO, we have a full-time Compliance Department helping our clients with these challenges, guiding them through the rapidly changing ACA requirements and avoiding costly penalties. Our Standard ACA Compliance Services include your basic plan General Notice Requirements as well as mandated ACA reporting techniques and fees. From the Children’s Health Insurance Program (CHIP) Reauthorizations Act of 2009 to Patient-Centered Outcomes Research Institute Fee (PCORI) calculation, our health care reform compliance services help ensure that self-funded employer groups stay ahead of the game.
As a full-service third party administrator (TPA), EBSO offers all the ACA compliance resources necessary in today’s regulatory environment – from a comprehensive range of Health Care Compliance Management Solutions for our self-insured medical administration clients to a freestanding suite of ACA Reporting Services available to any employer group, regardless of how the plan is funded or administered.
With all these options, trusting EBSO to be your expert is a safe bet! To learn more and view a full list of Standard Compliance Services we offer, visit our website at: http://www.ebsobenefits.com/compliance-management.html.