AJM Associates News and Publications provide up to date industry specific topics and updates to educate and advise regarding Group Insurance, Employee Benefits, Medicare and Individual Insurance.
In the United States, there are several states and one commonwealth that provide statutory disability programs,commonly known as "disability insurance". They are funded by mandatory contributions of employees (optionally covered by employers). Employees' contributions are federal tax‐deductible.
Are You Disability Procedure Ready?
The Department of Labor (DOL) confirmed the final disability claims regulations on January 5, 2018. These regulations are effective for all claims filed on or after April 1, 2018.
1095 Filing Reminder
Insurers, self-insuring employers, other coverage providers, and applicable large employers have until March 2, 2018, to provide Forms 1095-B or 1095-C to individuals, which is a 30-day extension from the original due date of January 31, 2018.
HICA Repealed - Replaced by IPA
The Michigan Health Insurance Claims Assessment (“HICA”) tax has been repealed, effective as of October 1, 2018. On June 11, 2018, Governor Snyder signed a series of bills repealing the HICA tax.
As a result of the repeal there is uncertainty as to the material impact on enrollments and premium rates. Estimates indicate a decrease in current enrollment of nearly 13 million nationwide for 2019 as many younger, healthier people may opt to take the risk of being uninsured as they did pre-ACA..