Accounting for ACA Transitional Reinsurance Fee

Sue Weaver

As Plan Administrators and Controllers consider closing the accounting records for 2014, keep in mind the Transitional Reinsurance Program that went into effect January 1, 2014. This is an annual fee for virtually all health plans calculated on a per participant basis that is due to the government to stabilize premiums under the Affordable Care Act. So, all Plans will need to account for the fee in 2014.

Per generally accepted accounting principles (GAAP), this is a calendar year […]

Benefit Plan Policies: Shared Expense Policy

Larry Beebe, CPA

In this series, we are reviewing the written plan policies needed to help your benefit plan stay compliant and operate most effectively. For a full list of the necessary policies and why your plan should implement them, click here.

An employee benefit plan often shares office space and/or other goods and services with other employee benefit plans or with related sponsoring organizations. If this sharing arrangement exists, then having a shared expense is a necessity.

The shared expense policy […]

HHS announces new reporting and collection process for the Affordable Care Act’s reinsurance program using Pay.gov

Scott Price, CPA

The transitional insurance program was established as part of the ACA in order to stabilize health insurance premiums in the individual marketplace and fund reinsurance payments to eligible market plans.  It requires enrollment reporting and contribution payments from health insurance issuers and certain self-insured group health plans for 2014, 2015 and 2016.

Pay.gov will be available beginning Friday, October 24, 2014 to accept reporting and payment of this fee.  The 2014 annual enrollment count submission is due on […]

Employee Benefits Specialists – Speakers Bureau

Our employee benefits specialists  are sought after for speaking engagements by industry associations and by benefit plans and unions themselves, and often instruct other professionals in the field.  For more information on scheduling a Bond Beebe professional, contact us.
David Dorsey, CPA

Managing Principal
[email protected]
301.272.6060

Noted advisor to labor organizations and benefit plans, Dave has served as the managing partner and president of Bond Beebe since 2002.  He has substantial experience in providing accounting and auditing services for local, national and international labor […]

Benefit Plan Policies: Collection Policy

Larry Beebe, CPA

In this series, we are reviewing the written plan policies needed to help your benefit plan stay compliant and operate most effectively. For a full list of the necessary policies and why your plan should implement them, click here.

Multiemployer employee benefit plans have unique issues when it comes to employer contributions. In addition to the high number of different employers that may participate in a plan, employers often contribute at different rates, perhaps for different classes of […]

Benefit Plan Policies: Disaster Recovery

Larry Beebe, CPA

In this series, we are reviewing the written plan policies needed to help your benefit plan stay compliant and operate most effectively. For a full list of the necessary policies and why your plan should implement them, click here.

A great majority of plans acknowledge that they should have a disaster recovery policy and have taken the steps to put this policy in place. However, having such a policy and implementing the policy are often two different things. […]

Benefit Plan Policies: Developing a Whistleblower Policy

Larry Beebe, CPA

In this series, we are reviewing the written plan policies needed to help your benefit plan stay compliant and operate most effectively. For a full list of the necessary policies and why your plan should implement them, click here.

When the Sarbanes-Oxley Act was enacted in 2002 whistleblower protection was a key provision of the law. However, these types of laws actually have quite a lengthy history in the United States, dating back to the Continental Congress in […]

Benefit Plan Policies: Essential Components of Your Plan’s Investment Policy

Larry Beebe, CPA

In this series, we are reviewing the written plan policies needed to help your benefit plan stay compliant and operate most effectively. For a full list of the necessary policies and why your plan should implement them, click here.

A well-written investment policy is essential for keeping your plan in compliance, as the Department of Labor (DOL) stipulates that benefit plans must have one. This policy shows that plan fiduciaries are acting prudently in the investment arena and […]

Looking in the Crystal Ball: DOL Releases Semiannual Regulatory Agenda

Mark Buckberg, CPA, CFE, CFF

The Department of Labor recently released its Spring 2014 semiannual regulatory agenda. This lists all regulations that the DOL expects to consider for proposal or review within the next six to twelve months.

Here are the regulations that may affect your benefit plan in the near future:
Final Rules for:

Adoption of amended and restated Voluntary Fiduciary Correction Program. The DOL is looking to expand the scope of transactions eligible for correction, as well as streamline correction procedures.
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