Posts made in March, 2013

Understanding The HHS Rules For Essential Health Benefits

Posted by on Mar 29, 2013 in Employee Benefit Program, Health | 0 comments

  The HHS ruled to establish the future of insurance issuer standards and health insurance exchanges for actuarial value and essential health benefits under the PPACA. The final rule creates a plan for when federal facilitated exchanges should accredit qualified health plans. When the PPACA goes into full effect, insurance plans that were not grandfathered into the small and individual market must provide coverage of services or benefits in 10 categories. They must also show the scope of benefits a typical employer plan covers. Qualified health plans are designed to provide benefits that...

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Understanding How HIPAA Affects Availability of Health Information to Other Parties

Posted by on Mar 20, 2013 in Human Resources | 0 comments

  In 1996, Congress passed the Health Insurance Portability and Accountability Act, which is commonly referred to as HIPAA. This act outlines who has lawful access to a person’s health records. Under the act, a person has a guaranteed provision to his or her own health information. However, it does set limits on the release and use of medical data. It also outlines several privacy standards for healthcare professionals. Every person has the right to know how his or her digital data is stored and used. Before they share or release any medical data about a specific patient to a third...

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Estate Taxes for 2013 and Beyond

Posted by on Mar 13, 2013 in Human Resources, Income Protection, News | 0 comments

  The dust has finally settled – for the moment. And Congress has stabilized the estate tax situation, which has been in a state of uncertainty since the so-called “Bush Tax Cuts” formally expired in 2010. The deal is this: The worst-case scenario in which all estates north of $1 million would have been hit with a confiscatory 55 percent tax on the excess was averted. That’s great news for anyone with a good sized home, a small business or family farm and/or a decent-sized retirement fund. Instead, lawmakers came up with a top tax rate on estates of 35 percent,...

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Gauging the Sequester’s Impact: Where and how soon might the cuts be made?

Posted by on Mar 5, 2013 in News | 0 comments

    As there was no last-minute agreement between Congress and the White House to postpone federal budget cuts scheduled to take effect March 1, the ax now falls. Unless a bipartisan effort somehow undoes them, assorted federal government agencies will have their budgets reduced by $85 billion between now and October 1, as the initial step in a planned $1.2 trillion deficit trimming over the next ten years. (The belt-tightening could have been more severe: without January’s fiscal cliff deal, it would have been $109 billion.)1,2 What gets cut? Broadly speaking, defense programs...

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