06-13-16 Regular Meeting of the La Porte City Council

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Short Term Strategies: Comply with Key Affordable Care Act Requirements for 2014 2015. o Health Plan Identifier application will be filed with Health and Human Services by November 5, 2014. o The Employer Mandate becomes effective January 1, 2015. 40 hour eligibility will be revised to 30 hours for the Sample Company requiring a policy update. A 12 month measurement period is employed to limit liability to the Sample Company. o Out of pocket cost sharing limits for health plan revised to $6,600 and $13,200. o The Health and Human Services (HHS) Reinsurance Fee filing deadline of eligible participants with HHS is November 15, 2014. Payment of $63 per plan participant will be due and payable by January 15, 2015. (2 installment payments are allowed) o The annual Patient Centered Outcome and Reinsurance Fee of $2 per participant is due and payable by July 1, 2015. IPS Advisors will conduct a Compliance Audit of all policies and procedures to ensure the Sample Company is in compliance with legislation including but not limited to ACA, COBRA, HIPAA, USERRA, etc. Long Term Strategies: Continue close monitoring of compliance and ACA requirements with assistance from IPS Advisors. Reinsurance Fee will reduce to $44 per plan participant payable January 15, 2016 and the third and final annual installment payable in 2017 will be determined at a later date depending on total aggregate employer collections received by HHS. Form 6065 - Minimum Essential Coverage and Form 6056 - Employer Sponsored Coverage filing with HHS required by March 31, 2016 or penalties will apply. The PCORI fee will continue at $2 per plan participant until 2020. thresholds which apply to high cost plans starting in 2018. %¬¯«®¸¤¤ %¦ ¦¤¬¤³ 3³± ³¤¦¸ Engaging and educating Employees, Retirees and Spouses so that they are not only aware of the health and welfare benefits available, but also effectively and efficiently utilizing them is an important component to our benefits strategy. Human Resources currently provides participants guidance and information through open enrollment communication meetings, health fairs, benefits communication guides, monthly newsletters, lunch and learns and carrier self-help tools (87% of Employees registered currently on MyCigna.com).