The June Newsletter provides updates on the following topics: Form 720 Reporting Reminder, Plan Administrator Tips, our Referral Program, and an Upcoming Webinar.
Form 720 Reporting Due July 31
As a reminder, you may be required to report and pay health care reform "PCORI" research fees (also known as CER fees). Your online administrator account has this reporting function built in under "Reports" > "IRS Reporting Tools." Click here to read more.
- Plan years ending between January 1, 2013 and September 30, 2013 are subject to a $1 fee per covered life.
- Plan years ending between October 1, 2013 and December 31, 2014 are subject to a $2 fee per covered life.
- The fee is reported and paid annually on IRS Form 720, due July 31 in the calendar year immediately following the plan-year end.
- The due date is July 31, 2014.
Form 720 reporting is required for all applicable self-insured health plans regardless of your company's filing status. Zane plans are applicable self-insured health plans.
Q: What counting method should I use?
A: Please use the "Actual Count".
Q: The Form 720 is a quarterly form, do I need to file this every quarter?
A: For the purpose of the PCORI fees, the fee is reported and paid annually.
Q: What quarter do I check on the payment voucher?
A: Quarter 2.
Was your question not addressed? Please contact your dedicated Account Manager directly, or reach out to our Customer Experience Team at 800-391-9209 x1 or firstname.lastname@example.org.
How Reimbursement Amounts are Calculated
As the Plan Administrator for your Zane Plan, you may view a summary of your employees’ ledgers from your Account Dashboard. This summary shows information used to calculate the reimbursements due.
Unpaid Claims shows the amount of approved claims that have not been reimbursed. These amounts will be reimbursed to your employees, up to the amount of their balance. Thus, Reimbursements Due are the lesser of the two amounts found in your employees’ Balance and Unpaid Claims. For further assistance, please see: How to View Participants’ Pending and Approved ZaneHealth Claims.
How to Submit a Client Referral
Do you know of another company who would benefit from a Zane Plan? Your company can earn $100 by referring them. And, the company you refer will get their first month free!
To get started, go to support.zanebenefits.com/refer and fill out the brief form.
Once you submit the referral form, we will contact you to confirm the referral and discuss how to best contact the company.
Thursday, June 12, 2014, 1:00 p.m. EDT
Join Zane Benefits President Rick Lindquist for a discussion on the transformation of U.S. healthcare. The discussion will focus on:
Why businesses offer health insurance today
The future of small business health insurance
How to offer a Defined Contribution health plan now
What these changes mean for industry professionals, employers, and employees
We're Here to Support You
Your dedicated Account Manager is an expert in Defined Contribution and health care reform compliance. Let us know how we can help.
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