REGULATORY COMPLIANCE

Health Care Reform

“Compliance has never been so complicated!”

As Health Care Reform continues to evolve, the need for assistance with regulatory compliance has grown. Businesses of all sizes are subject to many new requirements which if aren’t met, can lead to substantial fines and penalties. Now is not the time to sit back—it’s time to be proactive.

J.S. Clark has developed our own cutting edge financial tools to assist our clients with preparing for the upcoming changes due to Health Care Reform. These tools allow our clients to make confident benefit plan decisions for their future based on the results of our models.  We also employ a dedicated Compliance Director who regularly communicates with government agencies such as the IRS, CMS, and Department of Labor.

Affordable Care Act

Some provisions of the ACA were effective upon enactment, while others are scheduled to be phased in over the next several years. Are you ready for:

  • Methods Used to Calculate Group Size
  • Methods Used to Define Employee Eligibility
  • Employer Reporting Requirements
  • Insurance Reporting Requirements
  • Employer Shared Responsibility
  • Employer Distribution Requirements
  • Coverage Mandates

ACA Penalties, Fees, and Taxes

Failing to comply with the Affordable Care Act (ACA) will be costly for any business, regardless of size. Here’s a list of what’s either already in effect, or will be phased in over the next few years:

  • Transitional Reinsurance Program
  • Health Savings Account Excise Tax
  • Annual Fee on Health Insurance Providers
  • Medical Deduction Threshold Tax Increase
  • Medicare and FICA Tax Increases
  • Individual Shared Responsibility Penalties
  • Patient Centered Outcomes Research Institute Fee
  • “Cadillac” Plan Excise Tax

Regulatory and Compliance Guidance

J.S. Clark monitors regulatory agencies such as the IRS, CMS, Departments of Treasury and Labor. We ensure that you remain compliant with issues regarding HIPAA, ERISA, COBRA, FSA/HSAs, Medicare and Medicaid to name a few.

  • ERISA
    • Summary Plan Descriptions
    • 5500 Reporting
    • Annual Reporting
  • HIPAA
    • Business Associate Agreements
    • Privacy Notifications
    • Secured Data Transmission
    • Protection of Personal Health Information
  • COBRA
    • Third Party Administration
      • Initial Notification
      • COBRA Offer Letter
      • Payment Collection/Tracking
      • Carrier Processing
  • Employer Required Notifications
    • Waiving Coverage and Special Enrollment Rights
    • Women’s Health and Cancer Rights Act
    • Newborn Mother’s Health Protection Act
    • HIPAA Privacy Notice
    • CHIP—Medicaid and Children’s Health Insurance Program
    • Consent to Receive Electronic Notices

The Future of Health Care

  • Government
    • Individual Marketplace
    • Small Business Health Options Program (SHOP)
    • Annual Reporting
  • Private Marketplace
    • Small Group

Questions?
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