Entries by michbusiness

Overwhelmed by ACA Reporting Requirements? The MBPA Launches 6055 & 6056 Reporting Program with BASIC

The Affordable Care Act (ACA) imposes demanding information reporting responsibilities on employers starting with the 2015 calendar year.  The reporting stipulation states that an information return will be prepared for each applicable employee, and these returns must be filed with the IRS using a single transmittal form (Form 1095-C & 1094-C).  The filing requirements are […]

Modest Rate Increases for 2016 Health Plans – Individual Market to Increase on Average 6.5%, Small Group 1.0%

LANSING – Michigan consumers and small businesses will experience lower increases in the cost of their 2016 health insurance plan than those in many other states, according to the Michigan Department of Insurance and Financial Services (DIFS). DIFS reports that the average approved rate changes on a premium weighted basis increased by 6.5 percent for […]

HR Alerts – Employee or Independent Contractor? A New DOL Interpretation

SOURCE: BASIC Sept. 2015 To help employers properly classify their workers, the Department of Labor (DOL) has issued a new Administrator’s Interpretation to explain how the Fair Labor Standards Act’s definition of employee should be understood. As opposed to focusing primarily on the amount of control exerted by the employer, as was standard before, this […]

2016 Federally-facilitated Marketplace Agent Registration and Training is now Available

The Centers for Medicare & Medicaid Services (CMS) is pleased to announce that plan year 2016 Federally-facilitated Marketplace (FFM) agent and broker registration and training is now available. Training will be offered by CMS on the new Marketplace Learning Management System (MLMS), as well as through the following CMS-approved vendors: •    America’s Health Insurance Plans, […]

Blue Alert! Presentation of Taxes and Fees Will Be Updated for 2016 Quotes and Groupwide Changes

Taxes and fees have always been part of the premium charged but were displayed separately on quoting materials. Now certain federal and state taxes and fees will be included in the section that lists premium and stop-loss fees for medical, prescription, dental and vision coverage. This new presentation follows similar changes to the 2016 renewal […]