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To comply with an Affordable Care Act mandate, Blue Cross Blue Shield of Michigan and Blue Care Network are making changes to certain group high-deductible health plans that use aggregated deductibles and out-of-pocket maximum limits.

IRS has issued final 2015 forms for 1094-B, 1095-B, 1094-C and 1095-C.

We’ve changed the way the group bills display taxes and fees. Previously, certain federal and state taxes and fees were displayed separately from the premium, even though they have always been part of the total premium charged.

The Internal Revenue Service and Social Security Administration announced cost of living adjustments applicable to dollar limitations for qualified retirement plans, and other limits for tax year 2016.

The Internal Revenue Service announced in Revenue Procedure 2015-53  the annual inflation adjustments for more than 40 tax provisions for 2016, including the tax rate schedules, and other tax changes. This Revenue Procedure provides details about these annual adjustments.

To comply with IRS Section 6055 reporting requirements, we sent letters this month to subscribers of our fully insured group plans (including groups on the Do Not Mail List) if:

As fall approaches, we can expect to hear more about how employers are adapting their health plans for 2016 open enrollments. One topic likely to garner a good deal of attention is how the Affordable Care Act’s high-cost plan tax (HCPT), sometimes called the “Cadillac plan” tax, is affecting employer decisions about their health benefits. The tax takes effect in 2018.

The Affordable Care Act (ACA) imposes demanding information reporting responsibilities on employers starting with the 2015 calendar year. The reporting stipulation states that an information return will be prepared for each applicable employee, and these returns must be filed with the IRS using a single transmittal form (Form 1095-C & 1094-C). The filing requirements are based on an employer's health plan and number of employees.

LANSING - Michigan consumers and small businesses will experience lower increases in the cost of their 2016 health insurance plan than those in many other states, according to the Michigan Department of Insurance and Financial Services (DIFS). DIFS reports that the average approved rate changes on a premium weighted basis increased by 6.5 percent for the individual market and 1 percent for the small group market.

To help employers properly classify their workers, the Department of Labor (DOL) has issued a new Administrator’s Interpretation to explain how the Fair Labor Standards Act’s definition of employee should be understood.