Final regs clarify criteria for wraparound plans — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
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Final regs clarify criteria for wraparound plans

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in Office Management,Payroll Management

Final regulations include as an excepted benefit limited wraparound coverage—coverage that supplements, or wraps around, individual nongrandfathered health policies by providing additional benefits to part-time employees and retirees and doesn’t consist solely of cost-sharing subsidies.

Result: Part-time employees who take up wraparound coverage and qualify for premium tax credits remain eligible for those credits. Under the regs, wraparound coverage is permitted under a pilot program that begins no earlier than Jan. 1, 2016, and not later than Dec. 31, 2018, and ends three years later. The regs became effective May 18, 2015. (80 F.R. 13995, 3-18-15)

Expanded eligibility. In addition to part-time employees who buy nongrandfathered individual policies through the exchanges, the regs expand eligibility for wraparound coverage by allowing you to offer coverage to part-time employees and their dependents who are enrolled in Basi...(register to read more)

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