The Obama Administration (Administration) has announced that it will provide an additional year before the Affordable Care Act (ACA) mandatory employer and insurer reporting requirements begin.
All businesses employ various forms of capital to execute processes that produce goods or services. The various forms of capital can be categorized as financial, physical, or human. This is the basic DNA of all businesses.
Multinational companies often struggle to find the time to effectively manage the array of insured employee benefit plans that they sponsor around the world. For many, this means that significant money is being left on the table, and it results in concerns over whether plans are being effectively governed.
Large employers in 2014 will be subject to the Affordable Care Act's (ACA) "pay or play" requirement. Under the ACA's employer shared responsibility provision, large employers may be subject to a penalty if theydo not offer the minimum level of coverage under an employer-sponsored plan ( the "no-offer penalty") or offer coverage that is either not affordable or does not provide minimum value (the "under-offer penalty").
On January 17, 2013, the Federal Department of Health and Human Services (HHS) issued final omnibus amendments to the Privacy, Security, Breach Notification and Enforcement Rules (HIPAA Rules).
In 2006, US health care expenditures surpassed $2 trillion—16% of the GDP and almost three times 1990 expenses ($714 billion) and more than eight times 1980 expenses ($253 billion) .
The Patient Protection and Affordable Care Act of 2010 (PPACA) prohibits health insurance carriers and group health plans from rescinding coverage (rescissions) except for cases involving fraud or intentional misrepresentation of material fact.