The Affordable Care Act (ACA) imposes an annual, non-deductible fee on the health insurance sector, allocated across the industry according to market share. The applicable amount in the past for each fee year was: $8 billion for calendar year 2014; $11.3 billion for calendar years 2015 and 2016; $13.9 billion …
On July 17, 2019, the House passed a bill that would repeal the currently inactive Cadillac tax. The tax is an unpopular provision of the ACA, which is scheduled to take effect in 2022. The Middle Class Health Benefits Tax Repeal Act of 2019 would repeal the Cadillac tax before …
The Affordable Care Act (ACA) requires applicable large employers (ALEs) to offer affordable, minimum value health coverage to their full-time employees in order to avoid possible penalties. Because this employer mandate has been criticized as burdensome for employers and an impediment to business growth, it seems likely that its repeal …
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 …
Interesting times…. The Affordable Care Act (“ACA”) and its volumes of regulations have been the law of the land since 2010. Implementation was sometimes messy (the exchange websites), confusing (1095-C coding), and unreliable (late December extensions of filing deadlines). However, it is the law, and employers have spent billions of dollars to …
By: Macee Keelan These past few weeks, we’ve been getting phone calls from clients who are receiving Marketplace letters. These are letters from the government that notify employers that they have not complied with the Employer Mandate. Typical violations are that the health insurance coverage offered to an employee was …
At Creative Benefits, helping employers with Affordable Care Act (ACA) reporting is a top priority. During these early days of the ACA, employers have a steep learning curve. Creative Benefits consultants support clients as they learn how to comply with the new laws and help avoid common potholes. To that …
All of us at Creative Benefits send our best wishes for a healthy and happy 2016! The IRS gave all of us a holiday gift — it extended all of the filing deadlines for the ACA reporting. The new deadline for applicable large employers (ALEs) to provide forms to their …
With the end of the year fast approaching, the subject of Affordable Care Act (ACA) reporting for 2015 is taking center stage at Creative Benefits. Clients are racing to get their 1094-C and 1095-C forms in order. This sense of urgency is warranted – the Internal Revenue Service (IRS) just …
