Election Results Mean Both Change and Consistency Regarding Employee Benefits

Election Results Mean Both Change and Consistency Regarding Employee Benefits

  • On November 11, 2016

Final Election Day results are in and one thing is very clear–change was the top priority of American voters.  It is our goal at Kistler Tiffany Benefits to keep our clients fully engaged and informed about any new market, legislative, or regulatory changes that may be ahead. We will also continue working in Washington with both current and incoming policymakers to make sure they understand the realities employers and employees face when it comes to health benefits.

Many of you may be excited about what might be in store for the country now that Donald Trump is the President-Elect of the United States. Others may be disappointed or uncertain about the future.  Regardless of your viewpoint, it is important for you and your employees to keep in mind that Affordable Care Act (ACA) was not implemented overnight and health reform requirements cannot and will not be undone overnight either.  While exciting and different prospects for employee benefits might be coming, we also have to make sure we all take care of the things that need to be done right now.

The health plan choices that you and your employees have made or will make for 2017 still stand. Products and filed rates remain the same.  Existing deadlines and requirements remain in place.  All of the new regulations and requirements described in this newsletter will stand and be in force in 2017 as outlined. The transitional reinsurance program data and second-installment fee still need to be reported and paid by today, November 15th. Employer reporting requirements, including the January 31, 2017 deadline for delivering Forms 1095 B and C, are still in place for now.  Employee hours still need to be tracked and coverage offers still need to be considered under existing rules.  Regulatory changes proposed by the Obama Administration that are still pending will likely be finalized before January 20, 2017.

Keeping track of current requirements, anticipating future changes and making sure that you are informed and confident about your benefit choices and responsibilities is our job as your insurance broker.  Kistler Tiffany Benefits will always be here to support our clients and we remain committed to providing you with exceptional service and information in the months ahead.

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