4 Point Compass: Winter 2018

Lincoln park honeycomb structure

Happy Holidays from Stumm Insurance!  Here’s your quarterly Compass update:

  • ACA Updates:  A Texas federal judge made headlines this week by ruling the ACA is unconstitutional, primarily on the basis that the Individual Mandate no longer has a tax penalty in 2019 and going forward.  While this is major news, the healthcare industry is “business as usual” while the ruling goes through appeals and possibly the Supreme Court (again).  We will see how the new ruling, as well as the mid-term elections results, impact healthcare in the near future.  Even though the House now has a Democratic majority while the Senate remains Republican, there are still some viable bipartisan healthcare policies currently in legislation, including the expansion of Health Savings Accounts (HSAs) and further delays/elimination of the looming Cadillac Plan tax.
  • 1095 Update and DIY Online Solution – The ACA still requires Applicable Large Employers (i.e. 50 or more full time + “full time equivalent” employees in 2017) to provide a 2018 1095-C to all their medical eligible employees by March 4, 2019 (or March 31, 2019, if filing electronically).  While this deadline was recently extended by the IRS, note the deadline for filing the forms with the IRS has not been extended, so employers must submit their forms to the IRS by February 28, 2019 (or electronically by April 1).  A quick reminder that Stumm Insurance offers you a “Do-It-Yourself” (DIY) 1095-C online solution at no cost to you.  See the attached DIY1095 flyer for more information, and contact your Stumm service team as soon as possible if you would like discuss/demo this solution.
  • BCBSIL PPO “Virtual Visits” – If you are a BCBSIL covered group, this additional benefit is now available on your PPO, HSA, & Blue Choice plans (unless your plan still has “grandmothered” status) – but not on HMO plans. Powered by MDLIVE, Virtual Visits offer PPO members live consultations (via mobile app, online video and/or telephone) with 24/7 board-certified Illinois doctors for non-emergency medical needs such as allergies, cold/flu, sinus infections, pink eye, and more.  Virtual visits can help reduce high-cost urgent care center and emergency room visits, and MDLIVE doctors also have the ability to write electronic prescriptions.  Here is a link to circulate to employees to enroll in this program:  https://members.mdlive.com/bcbsil/landing_home
  • IRS Announcement of 2019 Changes – The IRS recently announced changes to the benefit-related maximums for 2019.  See chart below for the new amounts.  Please contact your Stumm Insurance representative if you have questions or need assistance in changing and/or communicating the maximums for 2019.
IRS Provision 2018 2019
HSA Contribution Max Single $3,450 $3,500
  Family $6,900 $7,000
Medical FSA Contribution Max $2,650 $2,700
Mass Transit & Parking Max $260 $265
Adoption Assistance Max $13,810 $14,080
QSEHRA Contribution Max Single $5,050 $5,150
Family $10,250 $10,450