On September 18, 2020, U.S. Supreme Court Justice Ruth Bader Ginsburg passed away at the age of 87. The loss of Justice Ginsburg has shaken the country and has led to a flood of questions regarding what comes next for the Court and the Affordable Care Act (ACA). Whether the …
Supreme Court to Challenge ACA Again in New Term
On March 2, 2020, the Supreme Court agreed to hear a third major challenge to the Affordable Care Act (ACA) after rulings in two other major cases confronted core previsions of the healthcare law. The court agreed to hear the case in its new term which begins in October 2020. …
What If the Employer Mandate Is Repealed?
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 …
Affordability Percentages Will Decrease For 2018
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 …
Affordable Care Act (ACA) Reporting: Avoid COBRA and Controlled Groups Classification Challenges
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 …
ACA Reporting for 2015: The Year of the “Do Your Best” Mentality
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 …
The Cadillac Tax: Coming in 2018
The “Cadillac Tax” refers to a provision in the Affordable Care Act (ACA) that levies a 40% excise tax on “Cadillac” health plans. Like the car they are named for, “Cadillac” plans are those that contain services and features that add to their cost. It’s been suggested this tax counter-balances …
Addressing the Needs of Our Clients: IRC Sections 6055 & 6056 Reporting Strategies
On Tuesday, June 16th, CEOs, CFOs and HR professionals filled the grand ballroom at Aronimink Golf Club seeking answers and guidance from the Creative Benefits Inc. Health Care Advisory Panel. Creative Benefits hosted it’s second workshop for to review the new requirements under Sections 6055 & 6056 of the Internal Revenue …
Is My Company Required to Complete 6055 or 6056 Reporting?
Preparation time is over: 2015 has arrived, and so too has the Affordable Care Act’s Employer Mandate. Employers must now be able to show they are following the requirements of the law, or pay the price. This has left many employers questioning what reporting the IRS requires of them, and …