Monthly Archives: March 2009

The COBRA Subsidy is Coming

March 1st, 2009

Published March 2009 As you may know, the American Recovery and Reinvestment Act of 2009 (ARRA, a.k.a. the Economic Stimulus Package) offers a 65% COBRA subsidy for up to 9 months to employees who lose their jobs between 9/1/2008 and 12/31/2009 and meet other eligibility requirements. The purpose of the COBRA subsidy within ARRA is...

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IRS notice regarding COBRA premium assistance payments credit and 941 form

March 1st, 2009

Published March 2009 IR-2009-15, Feb. 26, 2009 WASHINGTON – The Internal Revenue Service today released new detailed information that will help employers claim credit for the COBRA medical premiums they pay for their former employees. The IRS unveiled new information on this Web site, IRS.gov, that includes an extensive set of questions and answers for...

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Important Update: Medicare Secondary Payer (MSP) Act – New 2009 Reporting Requirements for your Health Plan and HRA

March 1st, 2009

Published March 2009 Important Update: Medicare Secondary Payer (MSP) Act – New 2009 Reporting Requirements for your Health Plan and HRA On March 6, 2009 CMS granted an extension for the Section 111 reporting of HRA’s. Below is an excerpt regarding this extension taken directly from the GHP User Guide Version 2.2 dated March 6,...

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BASIC’s Claim Processing Cycle

March 1st, 2009

Published March 2009 Our Customer Service Representatives are often asked about our process and timeframe for processing FSA and HRA claims. Although we process claims every business day, the standard processing cycle from the time the claim is received by BASIC and the participant receives payment is typically 4 business days, 2 days of this...

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