Navigation Links
Zane Benefits Publishes New Information on Compliant HRA Software
Date:1/27/2013

Park City, UT (PRWEB) January 27, 2013

Today, Zane Benefits, Inc. published new information on compliant HRA software. Zane Benefits, which provides comprehensive and flexible alternatives to traditional employer sponsored health benefits, is the leader in defined contribution and health reimbursement accounts.

According to Zane Benefits’ website, many CPAs and employers consider administering an HRA without proper HRA administration software. CPAs and employers often overlook important compliance obligations that put them at financial risk. Read on for an overview of why you need compliant HRA software. Failure to comply with the following requirements can be costly.

According to Zane Benefits’ website, The following ACA (federal health reform) pieces apply to HRAs in certain cases:

  •     Dependent Coverage for Adult Children up to Age 26
  •     Coverage of Preventative Care Without Cost-Sharing
  •     Annual and Lifetime Limit Rules
  •     Over-the-Counter Medicines and Drugs Require Prescription
  •     Form 720: Fees to Fund Research on Patient-Centered Outcomes
  •     Summary of Benefits and Coverage (SBC)
  •     60-day Material Modifications
  •     Form W-2 Reporting of Employer-Sponsored Health Coverage
  •     Internal and External Claims and Appeals Processes for Health Claims

According to Zane Benefits’ website, an HRA is a self-funded health plan and governed by the HIPAA Privacy Rules. Employers that offer a fully-insured health plan and sponsor an HRA often overlook their HIPAA Privacy obligations. In order to administer an HRA, the entity processing the claims receives protected health information (PHI) which is protected by HIPAA. Employers that offer a fully-insured health plan will rely on the insurance carrier to comply with the HIPAA Privacy Rules. However, the HRA compliance obligations rest with the employer. Employers that do not comply can be subject to civil penalties of up to $100 per violation.

According to Zane Benefits’ website, an HRA is an employee welfare plan under ERISA. ERISA requires that every [welfare] plan be established and maintained pursuant to a written instrument. The written instrument or plan document serves to define what expenses are eligible for reimbursement, the amount of employer contribution, and whether the funds may be rolled over from year to year. Not only could an enforcement action be brought against an employer for failure to have a plan document, but it is difficult for the employer to prove plan terms and enforce its provisions.

Click here to read full article.

About Zane Benefits

Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for Health Reimbursement Arrangement (HRAs) and defined contribution healthcare. The flagship software provides a 100% paperless administration experience to employers and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about ZaneHRA, visit http://www.zanebenefits.com.

Read the full story at http://www.prweb.com/releases/2013/1/prweb10363022.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. New Health Benefits of Water Report Now Available at CoffeeServiceNow.com
2. United Benefit Advisors Celebrates 10th Anniversary and Recognition as One of the Nation's Top 5 Employee Benefits Organizations
3. Physical therapy in the intensive care unit benefits hospitals bottom line
4. Implanted Heart Devices Have Real-World Benefits: Study
5. Sozo Nutritionals Announces Release of Svetol® Based Natural Weight Loss Product Backed By Several Clinical Studies Showing Remarkable Weight Loss Benefits
6. Benefits of higher oxygen, breathing device persist after infancy
7. Zane Benefits Posts Information & Videos on Defined Contribution Healthcare
8. Zane Benefits Publishes "The Crisis in Employee Health Benefits 1999-2012"
9. Robotic-assisted radical bladder surgery potentially benefits bladder cancer patients
10. Long-terms benefits follow brain surgery for certain forms of epilepsy
11. Shady Grove Eye and Vision Care Reminds Patients to Book Appointments Now Before 2012 Flex Benefits Run Out
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)... ISLAND, Australia (PRWEB) , ... February 11, 2016 ... ... full potential ?" motivational speaker, trainer and author Ray Clarke poses a question ... personal fulfillment . In his book, "Being in the Being" (published by ...
(Date:2/11/2016)... City, FL (PRWEB) , ... February 11, 2016 ... ... announced the commencement of a master charity program created to assist the people ... 60 days, working closely with nonprofit organizations and community leaders. Their hope is ...
(Date:2/11/2016)... ... 11, 2016 , ... Talix today announced that Clive Fields, ... presenting at the 2016 HIMSS Annual Conference & Exhibition, taking place February 29 ... “ Coding for Care: Using Data Analytics for Risk Adjustment ,” Dr. Fields ...
(Date:2/11/2016)... Washington, DC (PRWEB) , ... February 11, 2016 , ... ... positioning is based on evaluation of DataPoint’s team dedication and commitment to ... the companies comprising the annual list. The panel’s goal is to recognize and promote ...
(Date:2/11/2016)... ... February 11, 2016 , ... From March 4 through ... Dermatology Annual Meeting at the Walter E. Washington Convention Center in Washington, D.C. ... the condition of hyperhidrosis (excessive sweating) and its treatment options. Specifically, the company ...
Breaking Medicine News(10 mins):
(Date:2/11/2016)... Breast Cancer Therapeutics in Asia-Pacific Markets to 2021 ... (APAC) breast cancer market will experience considerable expansion from $1.9 ... Compound Annual Growth Rate (CAGR) of 8.5%. --> ... states that the Asia-Pacific (APAC) breast ... 2014 to $3.4 billion by 2021, at a Compound Annual ...
(Date:2/11/2016)... -- Jeffrey Zucker , vice president of ... at this year,s Summit for Clinical Operations Executives (SCOPE), being ... Miami, FL. Zucker will discuss how sponsors can ... SCOPE,s "Improving Site Study Activation and Performance" portion of the ... at 11:05 a.m. --> --> ...
(Date:2/11/2016)... Fla. , Feb. 11, 2016 ... ) company providing high-quality specialty pharmacy care for ... announced today it has achieved full Specialty Pharmacy ... accrediting organization dedicated to promoting health care quality ... --> --> The URAC accreditation ...
Breaking Medicine Technology: