Tag Archive: Benefits


Tom Beal Awarded MOST INNOVATIVE BROKER of the Year!

Congratulations to Tom Beal for being awarded MOST INNOVATIVE BROKER by the Institute For Healthcare Consumerism! Beal Benefits has been leading the industry in online enrollment and new insurance technology for years. All of our clients know that all they have to do is ask Tom if we can do something and if we don’t do it already we will find a way to make it happen.**CLICK HERE to read Tom’s article in the Healthcare Consumerism Superstars issue published by The Institute for Healthcare Consumerism.  It has some in depth information about Tom Beal and Beal Benefits, and explains why Tom Beal is the MOST INNOVATIVE BROKER.



Update on 1/1/14 Requirement on Employees to Purchase Coverage


Beal Benefits has been fielding calls and emails from your employees regarding the upcoming requirement that they all must have/purchase health coverage as of 1/1/2014, or be fined by the IRS. This is the most updated information regarding the subject that we will be passing on in response to any calls or emails received at our office.


Originally, the IRS stated any individual who did not purchase health insurance effective 1/1/14 would be fined.

The challenge with the 1/1/14 requirement date is that most groups’ insurance renewal dates are not January 1st. Since Healthcare Reform mandates are not considered a Qualifying Event to allow employees to enroll for their Employer Sponsored plan outside open enrollment, employees who work for groups whose renewal date is not January 1st will need to wait until open enrollment in 2014 to enroll. (Unless, of course, they are able to show proof of a Qualifying Event.)


The IRS just realized this is a dilemma and will now allow Transitional Relief for this exact situation.

Here are the new regulations to accommodate employees whose employer sponsored plan does not renew January 1st, who will not be able to enroll for their employer sponsored plan until their 2014 open enrollment:

  1. Employees and dependents eligible for an employer-sponsored health plan with a renewal date other than January 1st may avoid the IRS penalty fine if they enroll for health coverage during their open enrollment period in 2014.
  2. Therefore, employees that are not currently insured and do not purchase health coverage through an individual plan or the State Exchanges effective 1/1/2014 will not be fined if they enroll for health benefits at your company’s open enrollment in 2014.
  3. For example: Your benefit renewal date is 4/1/14, and your currently uninsured employees enroll for the group plan at your open enrollment. The way HCR law was originally written says these employees would be fined for not having health coverage on 1/1/2014. The newly revised regulations state the employee can remain uninsured from 1/1/14-3/31/14 (or until your open enrollment period in 2014) and as long as they enroll for their employer sponsored plan effective 4/1/14 (or at your open enrollment date in 2014), they will not incur the IRS fine.


Healthcare reform laws are being amended often and Beal Benefits will keep you up to date with any and all changes.

Thank You,

Tom Beal


Beal Benefits, “We make your employees happier and your bottom line healthier”



Healthcare Reform: Questions and Answers on Recent Changes

 What does the delay of the Employer Shared Responsibility provision mean to employers with more than 50 or more FT (or full-time equivalent) employees?

  1. The delay in the employer shared responsibility penalties means that employers will NOT incur penalties if they do not offer minimum value, affordable coverage (9.5% of annual salary) to at least 95% of their full time employees for plan years beginning on or after January 1, 2014. The effective date has been delayed to January 1, 2015.


Are any of the other provisions of the legislation delayed or impacted?

  1. No provisions of the legislation other than the employer mandate penalty have been delayed, so employers will still need to ensure that their benefit plan offerings are in alignment with applicable provisions, Beal Benefits is making sure that ALL your benefit plans meet all guidelines at your renewal date. All employees are still REQUIRED to purchase coverage in 2014, or be fined in 2015 tax year (minimum of $95.00 if they have a refund)


As an employer am I still required to provide a minimum value, affordable plan in 2014?

  1. NO, While the government has encouraged employers to continue to offer minimum value, affordable coverage in 2014, there is no penalty assessed for the 2014 plan year if they do not.


Does this apply to all size employers?

  1. The ER mandate applied to employers with 50 or more FT or FT equivalent employees. So the delay provides relief to those employers.


Are the IRS guidelines for the definition of full time employees, those working 30 hours or more, delayed?

  1. The 30 hour per week definition of “full-time employee” only applies to the employer mandate, which has been delayed for one year.


What impact does this news have on the 30-hour-per-week definition of full-time employees?

  1. The IRS guidance outlining the definition of a full-time and part-time employee is unaffected by the employer shared responsibility penalty and employer reporting delay.


Written by Tom Beal of Beal Benefit Solutions.

*All information above is current as of 9/26/13, please check back or call our office for updated information as Healthcare Reform is constantly evolving, and Tom works very hard to stay up to date on every little detail.