Navigation Links
Zane Benefits Publishes New Information on HRAs and Minimum Value and Affordability
Date:7/19/2013

Park City, Utah (PRWEB) July 19, 2013

Today, Zane Benefits, the online solution to small business health insurance, published new information on HRAs and Minimum Value and Affordability.

According to Zane Benefits’ website, the Internal Revenue Services (IRS) released proposed guidance on the minimum value and affordability rules under the Patient Protection and Affordable Care Act (PPACA), including how health reimbursement arrangements (HRAs) will be used in determining minimum value and affordability.

Employers with 50+ employees that also offer an integrated HRA should use these guidelines for calculating if their health coverage meets minimum value and affordability.

Here are four important PPACA concepts to be familiar with before understanding the proposed rules on minimum value and affordability:

1. Integrated HRA: An integrated HRA is a Health Reimbursement Arrangement (HRA) that is offered alongside an employer-sponsored group health plan (usually a high-deductible plan).

2. Applicable Large Employer: PPACA defines an applicable large employer as 50+ full time equivalent (FTE) employees.

3. Minimum Value (MV): According to PPACA, a plan provides MV if the plan's share of the total allowed cost of benefits provided under the plan is at least 60%. In other words, it has an actuarial value (AV) of 60%.

4. Affordability: PPACA considers coverage affordable if an employee’s required premium contribution (for self-only coverage only) does not exceed 9.5% of household income.

The proposed rules address how employer contributions toward an integrated HRA will count toward the plan's minimum value and affordability.

For minimum value determination:

All HRA amounts that are made newly available under an integrated HRA for the current plan year are taken into account for MV purposes (assuming that the amounts may only be used for cost-sharing and not to pay insurance premiums).

For Affordability:

According to the proposed regulations, integrated HRAs can also count toward affordability. IRS says that for the purposes of determining affordability, HRA amounts that are made newly available under an integrated HRA for the current plan year are taken into account in determining affordability only if the employee may either use the HRA amounts only for premiums or choose to use the HRA amounts for either premiums or cost-sharing.

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 Arrangements (HRAs) and defined contribution health care. The flagship software provides a 100% paperless administration experience to small businesses 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/2013/7/prweb10934265.htm.


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

Related medicine news :

1. Zane Benefits Publishes New Information on HRAs and Health Care Ministry Sharing Programs
2. Expert Nutritionists Post Articles About the Health Benefits of Various Foods at TheHealthBenefits.com
3. What are fructooliogosaccharides and how do they provide health benefits?
4. Zane Benefits Publishes New Information on the Oklahoma Health Insurance Exchange
5. Zane Benefits Publishes New Information on HRA Owner Eligibility
6. Zane Benefits Publishes New Information on Health Reimbursement Arrangements
7. Kangaroo care offers developmental benefits for premature newborns
8. Zane Benefits Publishes New Information on How to Change to Defined Contribution
9. Comfort & Harmony™ Weighs in on Possible Lifelong Social Benefits of Breastfeeding, Makes Breastfeeding Easier with mombo™ Nursing Pillow Available at Babies “R” Us
10. Teleradiology and Telemedicine Leader Offers Patients Low Cost, Same-Day, Second Opinions from Board Certified Experts/ABC TV Shines Spotlight on Benefits
11. Zane Benefits Publishes New Information on the Kansas Health Insurance Exchange
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/9/2016)... , ... December 09, 2016 , ... ... at The Pierre Hotel in New York, NY, on December 3rd, to benefit ... and physicians attended the annual event, which raised over $1 million - the ...
(Date:12/8/2016)... ... December 08, 2016 , ... The Florida Hospital Tampa Wound ... Medical Society (UHMS), the leading authority in hyperbaric medicine. This accreditation identifies the ... hospitals and facilities have earned this distinction. This is the second time the ...
(Date:12/8/2016)... ... December 08, 2016 , ... ... Management (MTM), adherence, and other pharmacist-delivered patient care services, has announced the promotions ... Eric Hoessel to vice president of sales. , Litsinger joined Mirixa in ...
(Date:12/8/2016)... ... December 08, 2016 , ... ... access for customers and employees that are both engaging and easy to use. ... Smart Technology, the software company revealed today its plans to roll out new ...
(Date:12/8/2016)... ... December 08, 2016 , ... California Senate Bill (SB) 863, signed into law ... in 2013 and 2014, according to CompScope™ Medical Benchmarks for California, 17th Edition ... to the study, medical payments per claim in California decreased 4 percent in 2013 ...
Breaking Medicine News(10 mins):
(Date:12/9/2016)... Research and Markets has announced the addition of the ... ... vaccines market to grow at a CAGR of 6.83% during the ... the growth prospects of the global travel vaccines market for 2016-2020. ... from the sales of various vaccines administered to actively immunize meningococcal ...
(Date:12/8/2016)... IRIDEX Corporation (NASDAQ: IRIX ) today ... common stock, $0.01 par value (the "Offering" with such shares ... final terms of the Offering will depend on market and ... be no assurance as to whether or when the Offering ... net proceeds it will receive from this offering for working ...
(Date:12/8/2016)... , Dec. 8, 2016  The global biosurgery ... 8.8% during the forecast period of 2016 to 2021. ... by 2021 from USD 18.21 billion in 2016. The ... rising incidences of sports related injuries and spinal problems, ... rising need of effective blood loss management. ...
Breaking Medicine Technology: