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Good Neighbor Travel Insurance Blog

ACA Affordability Percentages Increase via Group employer insurance for 2016

July 13, 2015 By : Doug Gulleson

ACA Affordability Percentages Increase via Group employer insurance for 2016. On Nov. 21, 2014, the IRS released affordability contribution percentages for 2016. Affordability contribution percentages measure a plan’s affordability and apply to three provisions under the ACA: the employer-shared responsibility penalty, the individual mandate and the premium tax credit.

These updated affordability percentages are effective for taxable years and plan years beginning after Dec. 31, 2015:

  • The new affordability percentage for the individual mandate is 8.13 percent for 2016.
  • The affordability percentage for the employer mandate and the premium tax credit eligibility rules is 9.66 percent for 2016.
  • Employers that use an affordability safe harbor under the pay or play rules will continue using a contribution percentage of 9.5 percent.

For 2015 plan years, the individual mandate affordability percentage is 8.05 percent, and it is generally 9.56 percent for the employer mandate and premium tax credit eligibility.

Also, did you know this? The Affordable Care Act’s (ACA) prohibition on pre-existing condition exclusions (PCEs) for plan years beginning on or after Jan. 1, 2014, makes HIPAA certificates of Creditable Coverage unnecessary. Beginning Dec. 31, 2014, group health plans and issuers are not required to provide HIPAA Certificates for 2015 and following years.

Under the Health Insurance Portability and Accountability Act of 1996 (HIPAA), plans and issuers had to provide HIPAA Certificates to individuals when they lost coverage under the plan or upon request for 24 months after coverage was terminated. The HIPAA Certificate allowed individuals to establish prior creditable coverage in order to reduce or eliminate PCEs.

Good Neighbor Insurance provides Blue Cross group insurance located here at https://www.gninsurance.com/group-health-insurance/. Call one of our insurance agents at 480-633-9500. Our office is in Gilbert, Arizona. You may also email us at info@gninsurance.com.Good Neighbor Insurance not only provides medical insurance here in Arizona but also travel and expat insurance which you may view here at www.gninsurance.com.

Doug Gulleson

Search Results

Compliance alert: US health insurance law for employers in the US – 2010

October 14, 2010

Good Neighbor Insurance (www.gninsurance.com) is continuing to update our clients on the new health insurance laws.   There are six major coverage options for those in the US and even though some of the rules and regulations are similar for all many differences are there and it all depends on how old you are and for […]

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How do ACA laws work for U.S. expatriates?

November 2, 2015

How do ACA laws work for U.S. expatriates? Especially when it comes to international group medical insurance benefits? When the U.S. federal government created the ACA (affordable care act) laws they did not realize the extra questions it would generate, especially for U.S. expatriates. The key to all the ACA laws is that it is […]

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All about Flagstaff, Arizona

March 18, 2014

Flagstaff is the county seat of Coconino County. The city is named after a Ponderosa Pine flagpole made by a scouting party from Boston (known as the “Second Boston Party”) to celebrate the United States Centennial on July 4, 1876. Located along the western side of the largest contiguous Ponderosa Pine forest in the continental United States Flagstaff is located adjacent to Mount Elden, just south […]

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Comprehensive 2016 ACA Compliance Checklist

October 5, 2015

Comprehensive 2016 ACA Compliance Checklist is primarily for employers and their employees with their group health insurance.  The Affordable Care Act (ACA) has made a number of significant changes to group health plans since the law was enacted over four years ago. Many of these key reforms became effective in 2014 and 2015, including health […]

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Health Net Update – Exchange Enrollment Cancellation and Options for Consumers Who Missed Deadline for Binder Payment

March 11, 2014

Now that January 31, 2014 has passed, Health Net is required to cancel enrollment of consumers who had January 1, 2014 effective date and did not make their initial premium payment after enrolling through Covered California, Covered Oregon or the Health Insurance Marketplace here in Arizona. The short, friendly letter we are sending out on […]

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Global health insurance news from China, Denmark, Thailand – 2012

June 27, 2012

Good Neighbor Insurance, www.gninsurance.com, provides international travel and medical cover for those traveling and residing outside the U.S. China Mainland China has made impressive gains in health care reform over the years.  Yet 173 million Chinese still faces ‘catastrophic’ health expenses even with these gains.  There is a disparity between city and countryside medical care […]

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