IRS Employer Mandate Enforcement Begins

The IRS maintains a very comprehensive Frequently Asked Questions (FAQ) document regarding ACA compliance for employers and until yesterday they had been silent regarding the enforcement of employer mandate penalties.  That now has changed, and employers should expect to begin seeing penalty letters in November and December of 2017.  These first letters will be for the enforcement of 2015 ACA penalties and will begin their efforts to audit compliance.

So with this update we now know a few things:

Is the IRS going to enforce the ACA employer mandate penalties?

Yes, beginning with the 2015 reporting submitted by employers.

 

When will they begin enforcing […] Read more

IRS Begins Enforcing ACA Mandates

Today the IRS has issued a warning that they will begin implementing the ACA mandate penalties.  Also, they will not accept 2017 income tax returns that do not comply with the Affordable Care Act rules which require each person to disclose the type of health insurance coverage they maintained for the year.

 

“Obviously, this has an impact on employers.  Most employers have worked to stay compliant with the requires ACA reporting requirements, however there still are many employers … believe it or not … who have simply disregarded reporting up to this point.  With the mandates being enforced, this is going […] Read more

How Obamacare Repeal Failed, Then Failed Again

How Obamacare Repeal Failed, Then Failed Again

In the Beginning….

Last November the world watched as Republicans won the white house along with majority control of Congress. With the notion of “repeal and replace” being at the forefront of almost every Republican campaign, it seemed as if quick action toward that end was inevitable. House Speaker Paul Ryan along with Senate Majority leader Mitch McConnell (R-Ky) almost immediately began moving forward with what they were calling a “Straight Obamacare Repeal Bill”.

The aim of the bill would be simple. Repeal the Affordable Care Act (Obamacare) now, then allow for a two-year transitional period to craft a replacement. The plan […] Read more

Update on Senate Healthcare Bill

Update on Senate Healthcare Bill

SUMMARY:

A new Republican Healthcare Bill is expected in the next 48 hours
Senators Cruz and Lee have drafted a conservative Amendment for the new Bill
Opposition is already growing within the Senate even before the release of new legislation
Senator Lindsey Graham is attempting to draft a Bipartisan bill in hopes of gaining democratic support
Bipartisan support may be the only way forward for new legislation

NEW BILL AND DELAYED AUGUST RECESS

After several failed attempts to build consensus behind the proposed Healthcare Bill, the GOP controlled Senate is now making a last ditch effort to finally “Repeal and Replace” Obamacare. On Thursday of this week […] Read more

What is in the Senate Healthcare Bill?

Overview:

Added Restrictions for Premium Tax Credits to go into effect in 2020
Modifications to Limitations on Premium Assistance Amounts
Elimination of Eligibility Exceptions For Employer Sponsored Coverage in 2020
Retroactive Elimination of Individual Mandate and Employer Mandate Penalties
Employer Reporting Requirement in place until at Least 2020
Funding for Cost Sharing Reduction Payments through 2019
Longer Phase out of Medicaid Expansion
Elimination of Tax Credits for plans that cover abortion
Repeal of all Obamacare taxes with the exception of the Cadillac Tax

The Senate released their draft version of the Obamacare repeal and replace bill on Thursday June 22nd.  The Bill is being referred to as the “Better Care […] Read more

Obamacare Repeal and Budget Reconciliation: Everything You Need To Know

SUMMARY:

Budget Reconciliation allows Senators to pass measures with 51 votes rather than 60
Provisions in the AHCA may be deemed extraneous under Senate Byrd Rule
ACA Reporting Requirement cannot be eliminated through reconciliation
The Recent CBO report spells difficulty for the Repeal effort moving forward

Recent headlines have been littered with phrases such as: “Budget Reconciliation”, “Byrd Rule”, “CBO Reports”, and “Filibuster” etc etc. What does it all mean? How does it tie together and most importantly how does this affect those working in the insurance industry?

Budget Reconciliation???

To start, let’s take a look at what budget reconciliation is. Simply put, Budget Reconciliation is a […] Read more

House Passes AHCA Bill – What This Means for Employer Compliance

 

Summary:

AHCA bill passed in the House of Representatives
Senate will now take up the bill, and many have said publicly that it will have significant changes and potential poison pills added that would keep it from ever becoming law.
Individual and Employer mandate penalties go to $0 as of 12/31/2015.
ACA Reporting stays intact as is, with the addition of new additional reporting as of 1/1/2018.
Definition of what plan can receive a subsidy or tax credit has changed.
Subsidies will be replaced with tax subsidies in 2020.

On May 4, 2017 the US House passed the latest iteration of the American Healthcare Act (AHCA), a reconciliation […] Read more

President Trump’s ACA Executive Order

Anyone keeping up with the news recently has probably seen headlines mentioning new Executive Orders executed by President Trump. Very shortly after being sworn into office on January 20th, newly elected President Trump signed an Executive Order beginning to outline his Administrations intent to repeal the Affordable Care Act (ACA).

No-one yet knows how long the law will remain in effect. However it was made clear in the Executive Order that it is “Imperative for the executive branch to ensure that the law is being efficiently implemented”. It also stated that all executive departments should “take all actions consistent with the […] Read more

We Can Help With 2015 (Prior Year) ACA Reporting

If you are in this position and need help, contact our support team.  We can help.

Recently some employers have began to receive IRS notices for not filing their 2015 ACA Forms (1094-B, 1095-B, 1094-C & 1095-C).

Recently the Internal Revenue Service (IRS) has begun to mail out Notice letters to large employers all over the country who have not yet filed their 2015 Affordable Care Act Reporting. These letters are serving as a final effort to inform large employers of their need to file informational returns or face a steep penalty.

VIEW THE NOTICE HERE

Internal Revenue Code (IRC) Section 6056 requires employers […] Read more

IRS Extends Due Date

IRS Extends Due Date for Employers and Providers to Issue Health Coverage Forms to Individuals

On November 18, 2016, the IRS extended the 2017 due date for providing 2016 health coverage information forms to individuals. Insurers, self-insuring employers, other coverage providers, and applicable large employers now have until March 2, 2017 to provide Forms 1095-B or 1095-C to individuals, which is a 30-day extension from the original due date of January 31.

Notice 2016-70, also extends transition relief from certain penalties (IRC Sections 6721 and 6722) to providers and employers that can show that they have made good-faith efforts to comply with […] Read more