|Electronic Filing Deadline for Forms 1094 and 1095 is April 2
Employers subject to the Affordable Care
Act’s (ACA) information reporting requirements are reminded that the
deadline to electronically file ACA information returns with the IRS is April 2.
POSTED MARCH 22, 2018 6:06 AM
|Reminder: Counting Employees Vital to ACA Compliance
Employers are reminded that it is
important to know how many full-time employees they have in order to
ensure compliance with the employer shared responsibility provisions
("pay or play") and corresponding information reporting requirements of
the Affordable Care Act (ACA)—which apply only to applicable large employers (ALEs).
POSTED MARCH 16, 2018 1:01 AM
|Premium Tax Credit Recipients Should Report Changes in Circumstances
Individuals with coverage through the Health Insurance Marketplace who
are receiving advance payments of the premium tax credit—which are paid
directly to insurance companies to lower monthly premiums—that certain changes in their income or family size may affect the credit. As a result, if circumstances have
changed for such individuals, it would be prudent to perform a "mid-year
checkup" via the IRS's Premium Tax Credit Change Estimator
to determine if they need to adjust the premium tax credit they are
POSTED MARCH 09, 2018 4:04 AM
|Small Business Health Care Tax Credit Available for Tax Year 2017
New and existing small employers should look into whether the Small
Business Health Care Tax Credit can help them provide insurance to their
employees. The credit can be worth up to 50% of the amount a small business contributes toward employees' premiums.
POSTED MARCH 02, 2018 3:03 AM
|Federal Agencies Propose to Allow Short-Term, Limited-Duration Insurance for Longer Periods
Federal agencies recently proposed to amend the definition of
short-term, limited-duration insurance so that it may offer a maximum
coverage period of less than 12 monthsafter the original effective date of the contract, rather than the current maximum period of less than 3 months.
POSTED FEBRUARY 21, 2018 6:06 AM
|Reminder: Form 1094 and 1095 Deadlines Approaching
Employers subject to the Affordable Care
Act's (ACA) information reporting requirements are reminded that the
deadlines to file and furnish Forms 1094 and 1095 are quickly
POSTED FEBRUARY 15, 2018 10:10 AM
|IRS Updates Q&As on ACA Information Reporting
The Internal Revenue Service has updated its Q&As regarding Form
1094-C and 1095-C information reporting by applicable large employers
(ALEs)—generally those with at least 50 full-time employees, including
full-time equivalent employees, in the preceding calendar year.
POSTED FEBRUARY 06, 2018 6:06 AM
|3 Key ACA Terms Employers Need to Know
In general, under the employer shared responsibility ("pay or play") provisions of the Affordable Care Act (ACA), applicable large employers—generally those with 50 or more full-time employees, including full-time equivalent employees—may be subject to a penalty if they do not offer minimum essential coverage that is affordable and provides minimum value to their full-time employees (and their dependents). This update includes definitions to help employers understand these key terms.
POSTED FEBRUARY 02, 2018 3:03 AM
|'Cadillac Tax' Delayed Until 2022
President Trump has signed the Extension of Continuing Appropriations
Act, which (among other things) delays implementation of the "Cadillac
Tax," the Affordable Care Act's excise tax on high-cost
employer-sponsored health coverage, until 2022. Previously, this
tax—which would impose a 40% tax on plans that cost more than $10,200
(for self-only coverage) and $27,500 (for family coverage)—was set to
become effective in 2020.
POSTED JANUARY 23, 2018 3:03 AM
|Reminder: 2018 'Pay or Play' Affordability Percentage is 9.56%
As a reminder, for plan years beginning in 2018, coverage will
generally be considered affordable if the employee's required
contribution for the lowest cost self-only health plan is 9.56% or less of his or her household income for the taxable year. For plan years beginning in 2017, the applicable percentage was 9.66%.
POSTED JANUARY 19, 2018 2:02 AM