Health Benefits

Reading Health System and UPMC Health Plan announced they have finalized an agreement to form a provider-payer joint venture. Beginning January 1, 2017, this Reading-UPMC Health Plan enterprise will combine access to Reading Health System’s high-quality clinical care, expert providers, and advanced healthcare facilities with UPMC Health Plan’s experience, expertise and advanced analytics to improve the health of the community. The new joint venture will offer a full line of health coverage and related services to individuals as well as employers and their employees in the Reading Health System service area. Read the Cision PR newswire >>> If you have questions, contact Matt Pfeiffenberger, VP, Health Benefits Solutions, at (717) 397-9600.

A few years ago when my company offered the option of Health Savings Accounts (HSAs) instead of Flexible Spending Accounts, I thought “okay, fine.” I got another debit card and happily used it to spend pre-tax dollars on current medical expenses. Recently, though, I spoke with a financial advisor who opened my eyes to the fact that I’d been using my HSA all wrong. Now, I realize HSAs are one of the best options available for additional retirement savings. Read more here >>>

If approved, the $69 billion acquisition — $77 billion including debt — would drastically remap the health care industry. CVS Health (CVS) is a massive drugstore chain and prescription drug insurer, while Aetna (AET) is one of the nation’s largest health insurers. It would also go down as the largest health insurance deal in history, far exceeding Express Scripts (ESRX)’ $29 billion acquisition of Medco in 2012, the last record-holder. Tell me more >>>

The Internal Revenue Service (IRS) Office of Chief Counsel has recently issued several information letters regarding the Affordable Care Act’s (ACA) individual and employer mandate penalties. These letters clarify that: Employer shared responsibility penalties continue to apply for applicable large employers (ALEs) that fail to offer acceptable health coverage to their full-time employees (and dependents); and Individual mandate penalties continue to apply for individuals that do not obtain acceptable health coverage (if they do not qualify for an exemption). These letters were issued in response to confusion over President Donald Trump’s executive order directing federal agencies to provide relief from the burdens of the ACA. Action Steps These information letters clarify that the ACA’s individual and employer mandate penalties still …

By David J. Ledermann, Esq., Barley Snyder While the long-term future of the Affordable Care Act may be in doubt, the law’s application to employers remains largely unaffected by recent political developments. Information letters recently released by the IRS Office of Chief Counsel, responding to inquiries about the status of the ACA’s employer shared responsibility requirements (the “employer mandate”), emphasize that these requirements remain effective. Therefore, an “applicable large employer” (an organization, or group of related organizations, that averaged at least 50 or more full-time equivalent employees in the prior year) could face penalties for failing to offer adequate health coverage to full-time employees and their non-spouse dependents. The IRS information letters indicate that no waivers under the employer mandate …