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Tag "ACA Employer Mandate"
New PTC Data is Cause For Concern For Employers
Employers should review their ACA compliance processes carefully in light of new data issued by the Kaiser Family Foundation (KFF). Below we’ve identified why. Key PTC findings Health exchange enrollees Read More
IRS Proposed Ruling Could Change ACA Affordability
Last month the IRS published a proposed regulation that would amend the existing rule regarding employer-sponsored Minimum Essential Coverage (MEC) for family members of an employee. The proposed rule would Read More
ACA Enrollment Reaches 35 Million Signups
Following the 2021 tax year, the ACA has garnered the highest number of enrollments it has ever seen. Over 35 million Americans have obtained health coverage because of the ACA, Read More
ACA Penalty Letter 226J on The Rise
The last several years have been difficult for the IRS, but now that the historic backlog has an end date, the agency is making significant progress on a long list Read More
IRS Backlog Expected to Clear By End of 2022
The IRS has made significant progress in the historic backlog it’s still facing, but it still has a long way to go. Chief IRS Commissioner Charles Rettig anticipates clearing the Read More
March 31 is the Deadline for E-Filing ACA Returns With the IRS
Today, March 31, 2021, is the e-filing deadline for submitting ACA Forms 1094-C and 1095-C to the IRS for the 2022 tax year, as required by the ACA’s Employer Mandate. Read More
ACA Affordability for the 2022 Tax Year
With the 2021 ACA reporting season coming to an end later this month, employers should turn their attention to ACA compliance for the 2022 tax year. A key component of Read More
IRS Increasing Staff to Clear Backlog and Support Current Tax Season
On March 10, the Treasury issued a statement announcing that the IRS will be hiring more than 10,000 positions to assist with its current backlog and the 2021 filing season. Read More
ACA Paper Filing Deadline Is Next Week
This coming Monday, February 28, is the deadline for paper filing ACA Forms 1094-C and 1095-C to the IRS for the 2021 tax year. As a reminder, Applicable Large Employers Read More
IRS Backlog Poses ACA Risk for Employers
The IRS is experiencing a massive mail backlog of unprocessed documents first caused by COVID-19. Included in that backlog of notices are ACA penalty assessments. To help the situation, the Read More
ACA Open Enrollment Reaches Record-Breaking 14.5 Million
Over 14.5 million Americans elected to receive health coverage through one of the ACA’s insurance marketplaces during the 2022 open enrollment period. The record-breaking participation is 21% higher than the Read More
California Individual Mandate ACA Furnishing Deadline is January 31
With the New Year well underway, organizations with operations in California should give special attention to the state’s Individual Mandate and the additional ACA reporting requirements. Employers that offer self-funded Read More
ACA Penalties Are Increasing in 2022
The IRS penalty amounts for non-compliance of the ACA’s Employer Mandate are again increasing in 2022. Below is a rundown of the new penalty amounts and how the IRS will Read More
AIRs Portal Downtime Could Prove Problematic for Employers
On December 5, the IRS closed production of the Affordable Care Act’s Information Returns (AIRs) portal to prepare for 2021 reporting year electronic filing submissions. The agency says that the Read More
ACA Signups for Open Enrollment Hit Record Highs
Open enrollment for the 2022 plan year ends later this week but ACA signups are already hitting record new highs. Kaiser Health News cites a record-breaking 13.6 million Americans already Read More
1095-C Codes for the 2021 Tax Year
It’s 2022 and time to begin preparing the annual 1095-C filings with the IRS and select state governments. Are you ready? If you need a refresher on the different 1095-C Read More
State ACA Reporting and Furnishing Deadlines for Employers
Employers ringing in the New Year should remember that several states’ have additional ACA filing and furnishing obligations that must be completed for the 2021tax year. To help you get Read More
IRS Issues Final 2021 ACA Reporting Instructions
On December 9, 2021, the IRS published the final ACA reporting instructions for the 2021 tax year, including the final 1094-C and 1095-C forms. As expected, the forms and instructions Read More
Remember, No Good Faith Transition Relief This Year
With the New Year just a few short weeks out, employers should remember that 2020 was the final year for Good Faith Transition Relief. That means filing late or inaccurate Read More
2022 Open Enrollment Sees Lower ACA Premiums
Open enrollment period for the 2022 coverage year is well underway, and ACA premiums are continuing to drop. The federal period for obtaining health coverage kicked off on November 1 Read More
Letter 226J Notices For The 2019 Tax Year Have Arrived
The IRS is now issuing Letter 226J penalty notices to employers identified as having failed to comply with the ACA’s Employer Mandate for the 2019 tax year. Just in time Read More
IRS Proposes Automatic Extension for Furnishing 1095-C Forms
In a rather surprising turn of events, the IRS released proposed regulations that add an automatic extension to the furnishing deadline of the ACA’s 1095-C and 1095-B forms. Under the Read More
How Build Back Back Better Would Reshape U.S. Healthcare
With the Infrastructure Bill now officially signed into law, Congress will now shift its focus onto the $1.75 trillion Build Back Better proposal. In its current version, the plan could Read More
Get to Know the ACA’s 1095-C Form
With the end of the year approaching quickly, ACA compliance and the subsequent ACA reporting are ramping up. Employers preparing for IRS and state filing requirements should consider the importance Read More
2021 ACA Reporting Unlikely to See Deadline Extensions
On October 2, 2020, the IRS issued Notice 2020-76, extending the deadline for employers to furnish ACA Forms 1095-C to applicable full-time employees from January 31, 2021, to March 2, Read More
Three States Launch Their Own ACA Health Exchange
Three states have successfully transitioned away from the federal healthcare.gov ACA exchange to operate on their own-state run marketplace. On October 4, Maine, New Mexico, and Kentucky completed the transition Read More
Missouri Medicaid Expansion Sees Immediate Success
Missouri’s ACA Medicaid expansion is already seeing substantial growth in terms of health coverage enrollment and participation. The state originally expanded Medicaid and Medicare at the height of the COVID-19pandemic Read More
ACA Penalty Amounts for 2022 Tax Year Surface
The IRS recently announced the ACA affordability percentage for the 2022 tax year and with that information comes speculation around the Employer Mandate’s IRC Section 4980H(a) and (b) penalty amounts Read More
ACA Looks Strong Heading into 2022 Open Enrollment
The ACA is receiving some of the highest approval ratings since it was first signed into law in 2010. According to a June poll from the Kaiser Family Foundation (KFF), Read More
3 Resources To Assist Employers With 2021 ACA Reporting
The end of the 2021 tax year and the subsequent tax season are approaching rapidly. What precautions is your organization taking to ensure a smooth ACA reporting experience this year? Read More
ACA Affordability For 2022 Tax Year to Decrease
For the 2022 tax year, the ACA affordability threshold will decrease to 9.61%. According to IRS Revenue Procedure 2021-36 all health plans offered by employers beginning January 1, 2022, will Read More
Classify Workers Correctly to Determine ALE Status and Avoid ACA Penalties
Classifying workers is an important step for employers determining if the requirements of the ACA’s Employer Mandate apply to them. That’s because worker classifications directly impact an employer’s applicable large Read More
Introducing The Employer’s Guide to Coding ACA Form 1095-C
The fourth quarter is here and the inevitable tax filing season is right around the corner. Employers should give special attention to their ACA reporting obligations this year as there Read More
Court Case Challenges ACA’s Free Preventative Care
In the series of legal challenges against the ACA, the latest is an attack on free preventative care and it just may undermine significant advancements made to the U.S. healthcare Read More
ACA Reporting to Grow in Complexity Due to State Individual Mandates
ACA reporting is complex and the process has only grown more challenging as states continue to enact additional state-level ACA reporting requirements as a function of their Individual Mandates. But Read More
House Democrats Share More ACA Advancements in $3.5 Trillion Plan
Democrats in the House of Representatives have shared their plans for ACA healthcare expansion as part of a proposed $3.5 trillion package. Included in the proposal are several provisions that Read More
ACA Navigators to Receive Additional Funding For 2022
The Biden administration is making sure that the upcoming open enrollment period is a successful one. Most recently the administration announced that it will be increasing funding for ACA navigators. Read More
HHS Lowers Cost-Sharing Reduction Limits for 2022
The Department of Health and Human Services (HHS) recently made available an FAQ specifying the cost-sharing reduction limits (CSR) for the 2022 tax year. In the FAQ, the HHS makes Read More
Recapping The ACA’s Special Enrollment Period
August 15 was the deadline for Biden’s federal special enrollment period. Preliminary data finds over 2.5 million Americans opted to receive healthcare coverage. Of the 2.5 million, 1.8 million enrolled Read More
ACA Measurement Methods Are Critical for Avoiding IRS Penalties
If you or someone you know has been hit with IRS Letter 226J, you know that it is no laughing matter. The IRS is currently issuing these ACA penalty assessments Read More
IRS Releases Further Guidance on COBRA Continuation Coverage
The IRS recently issued a notice that further clarifies the usage of Consolidated Omnibus Budget Reconciliation Act (COBRA) coverage as amended via the American Rescue Plan (ARP). IRS Notice 2021-46 Read More
Health Carriers Are Benefiting From The ACA
Several health carriers are experiencing growth because of the recent Affordable Care Act advancements. Most notably is CVS Health Corp. and its affiliated health insurance business, Aetna. Last week the Read More
CMS Proposed Rule to Provide Greater Access to ACA Coverage
The Biden administration is yet again making strides to bolster the Affordable Care Act. This time, it’s through a proposed rule that aims to strengthen the ACA’s federal and state Read More
The New HRA Regulations Explained
Earlier this year the IRS released final regulations regarding the relationship between Employer Shared Responsibility Provisions (ESRP) and individual coverage Health Reimbursement Arrangements (HRAs). And then they were withdrawn by Read More
Special Enrollment Period Doubles Enrollees, Final Month Approaches
In June, the ACA’s special enrollment period garnered 1 million sign-ups through the federal health exchange, HealthCare.gov. A month later and the number of enrollees has doubled. On July 14, Read More
The Look-Back Measurement Method Can Help Prevent ACA Penalties
Determining the accurate full-time employee count during a calendar year is important for Affordable Care Act compliance. Classifying employees incorrectly can lead to inaccurate information being submitted to the IRS Read More
IRS Issues Draft ACA Reporting Instructions for 2021
The IRS recently released its draft 1094-C and 1095-C instructions for the 2021 tax year. We’ve identified the changes below. It appears that Form 1094-C will remain the same, but Read More
ACA Survives Supreme Court, Focus Shifts to More Advancements
Earlier this month the Supreme Court issued its decision to uphold the ACA, dismissing the challengers who asserted it was unconstitutional. So, what happens next? Now that the healthcare law Read More
Understanding ACA Forms 1094-C/1095-C
Employers required to comply with the ACA’s Employer Mandate must report their full-time employee’s healthcare information to the IRS annually via forms 1094-C and 1095-C, but what exactly are these Read More
