Entries by MNJ Insurance

2021 Pay or Play Penalties Increase

On August 19, 2020, the IRS updated its Pay or Play Frequently Asked Questions to include the annual adjusted penalty amounts for the 2021 calendar year. When the Affordable Care Act was first implemented, there were two penalties for the Pay or Play, 4980H(a) penalty and the 4980H(b) penalty for Applicable Large Employers, also referred…

California Individual Mandate Returns in 2020

Beginning in 2020, California imposes a state individual mandate that requires individuals in California to maintain health coverage or pay a penalty. The California law largely mirrors the federal individual mandate requirement under the Affordable Care Act (ACA) that was effectively eliminated, beginning in 2019.  California’s individual mandate requires most individuals in the state (and…

What is “Affordable” Coverage under Health Care Reform?

Under the Patient Protection and Affordable Care Act, the employer-provided coverage must be “Affordable,” so that Applicable Large Employers avoid penalties under the “Pay or Play” rules. Affordability will be determined by whether the coverage offered costs an employer more than 9.5% of their annual household income.  Since there is no practical way for an…

Department of Labor Releases New FMLA Forms: May 2015

Over the Memorial Day holiday weekend, the Department of Labor published new FMLA forms. The new forms are good through May 2018. Download the new forms: WH-380-E, Certification of Health Care Provider for Employee’s Serious Health Condition. WH-380-F, Certification of Health Care Provider for Family Member’s Serious Health Condition. WH-381, Notice of Eligibility and Rights & Responsibilities. WH-382, Designation Notice.…

What is the Difference between Federal COBRA and Cal-COBRA?

When an employer offers a group health insurance plan, such as medical, dental, or vision insurance, the employee and covered dependents (“Qualified Beneficiaries”) are provided an opportunity to continue their current plan at the individual/family’s expense when they have a qualifying event. Qualified events may include termination or reduction of hours of the covered employee’s…

Help…I Lost my Job…Should I Take COBRA or an Individual Policy?

COBRA is a federal law that requires employers of 20 or more employees with group health plans to offer employees, their spouse and dependents a temporary period of continued health care coverage if they lose coverage through the employer’s group health plan.  Employers who have not continuously had 20 employees are covered if they had…

HSA, HRA, or FSA…What is the Difference?

Health care accounts are not all created equal. That’s why you need an experienced, trusted adviser to help you understand health care accounts. MNJ Insurance Solutions is here to help you understand the complex, and sometimes confusing, health care accounts and their acronyms, like HSAs, HRAs, and FSAs, so you can make an informed decision…