Revenue Procedure 2023-39 was released on August 23, 2023, by the IRS, announcing the contribution percentage for 2024. This percentage determines the affordability of an employer’s plan under the Affordable Care Act (ACA). Shared responsibility, or pay or play rules, require applicable large employers (ALEs) to offer affordable health coverage to …
Braidwood Decision Affects ACA Preventive Care
April 19, 2023 – The Departments of Labor, Health and Human Services, and the Treasury (Departments) recently issued frequently asked questions (FAQs) on the Affordable Care Act’s (ACA) preventive care coverage requirement. These FAQs result from a recent court decision in Texas (Braidwood Management Inc. v. Becerra) as the decision …
2024 ACA Pay or Play Penalties Increasing
The IRS released the 2024 penalty amounts regarding the employer shared responsibility (pay or play) rules under the Affordable Care Act (ACA). For the 2024 calendar year, Penalty A will be $2,970 (an increase of $90 per employee from 2023). Penalty B will be $4,460 (an increase of $140 per …
Electronic Filing Requirement Expanded by IRS
The IRS released a final rule on February 23, 2023, expanding the requirement to file certain information returns electronically. This includes the Affordable Care Act’s (ACA) reporting requirements under Sections 6055 and 6056 of the Internal Revenue Code. The Taxpayer First Act of 2019 is affected by the final rule’s …
ACA Contraceptive Mandate Guidance
The Department of Labor (DOL), Department of Health and Human Services (HHS), and the Treasury Departments issued frequently asked questions (FAQs) in relation to the contraceptive coverage mandate under the Affordable Care Act (ACA). Non-grandfathered plans, under the ACA, are required to cover specific women’s preventative health services without cost …
2023 Notice of Benefits and Payment Parameters
The Department of Health and Human Services (HHS) released its final Notice of Benefit and Payment Parameters for 2023. The rule details the benefit and payment parameters for the 2023 benefit year under the Affordable Care Act (ACA). The 2023 maximum annual limit on cost-sharing is $9,100 for self-only coverage, …
Why Implement a Workplace Wellness Program?
SHRM’s 2019 Employee Benefits Survey found that 64% of employers provide wellness information and resources. With health care costs continuously increasing, employers and employees strive to save money. A wellness program is an attractive solution as it has the potential to reduce health care costs and boost workplace satisfaction. Wellness …
Transition Policy for Non-ACA Compliant Plans Extended Indefinitely
The Department of Health and Human Services (HHS) extended an existing transition policy indefinitely for health plans that do not comply with the Affordable Care Act (ACA). This extension applies to policy years beginning after October 1, 2022. Until the HHS announces that the coverage must come into compliance with …
Proposed Rule Would Update 2022 Benefit & Payment Parameters
The Department of Health and Human Services (HHS) recently published a proposed rule that would revise several benefit and payment parameters under the Affordable Care Act (ACA) for the 2022 benefit year. While the proposed changes primarily impact insurers and Exchanges, it’s important to consider that some provisions could also …
Supreme Court Upholds Affordable Care Act
The Affordable Care Act (ACA) as it exists today, will remain in place. On June 17, 2021, the U.S. Supreme Court upheld the Affordable Care Act (ACA) in a 7-2 ruling after several arguments challenging the constitutionality of the ACA were brought forth to the court. The Supreme Court determined …
Remaining 2022 Notice of Benefit & Payment Parameters Finalized
The Department of Health and Human Services (HHS) recently finalized the second Notice of Benefit and Payment Parameters (NBPP) for 2022. The final notice — which follows the first final 2022 NBPP published on January, 19, 2021 — sets forth payment parameters and provisions related to the risk adjustment program …
ACA Special Enrollment Period Extended to August
On March 23, 2021, President Joe Biden and his administration reported that the Centers for Medicare & Medicaid Services (CMS) announced that it is extending the Special Enrollment Period (SEP) — which was originally available through May 15, 2021 —for an additional three months, allowing eligible individuals to enroll in …
IRS Extends HSA 2020 Contribution Deadline
On March 29, 2021, the Internal Revenue Service (IRS) issued Notice 2021-21, which extends tax deadlines to May 17, 2021 for individuals filing Form 1040 series returns and making 2020 IRA and HSA contributions. This decision follows a previous announcement from the IRS declaring that the federal income tax filing …
Guidance for Health FSA & DCAP COVID-19 Relief
The Internal Revenue Service (IRS) has released a notice intended to clarify the application of temporary special rules for health flexible spending accounts (FSAs) and dependent care assistant program (DCAP) accounts under the Consolidated Appropriations Act, 2021 (CAA). Health FSAs and DCAPs are accounts individuals can make pre-tax contributions to, …
Biden Administration Urges Supreme Court to Uphold ACA
The Biden administration has told the Supreme Court to uphold the Affordable Care Act (ACA).  In a letter to the Supreme Court, Deputy Solicitor General Edwin Kneedler clarified that the current U.S. Department of Justice views the ACA as constitutional. “Following the change in administration, the Department of Justice …