The IRS has updated their Questions and Answers (Q&As) on the employer shared responsibility rules under the Affordable Care Act (ACA), to include adjusted penalty amounts for 2019 and 2020. According to the FAQs, the penalty amounts will be increased as follows: For calendar year 2019, the adjusted $2,000 amount …
On May 5, 2017, the Internal Revenue Service (IRS) issued Revenue Procedure 2017-36 to index the contribution percentages in 2018 for purposes of determining affordability of an employer’s plan under the Affordable Care Act (ACA). For plan years beginning in 2018, employer-sponsored coverage will be considered affordable if the employee’s required contribution for self-only coverage does …
The deadline for e-Filing 1094-C forms is coming up on June 30. In theory, e-Filing should accelerate the submission of these Affordable Care Act forms, but the reality we have observed is that many Applicable Large Employers are having difficulty filing forms electronically. The lesson here for employers is that …
Across the board, we’re observing a recurring theme: Affordable Care Act (ACA) compliance is complex and time consuming. The employers who are successful with the process are those that allow time to navigate a course full of twists and turns. “Don’t put off ’til tomorrow what you can do today” …
