There’s good news for Applicable Large Employers (ALEs) in 2024 when it comes to filing their state ACA reports. Because the filing date falls on a Sunday, they’ll have an …
Applicable Large Employers
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How do employers prove to the IRS that the healthcare plans they offer their workforce are affordable under the ACA? It’s an important question for Applicable Large Employers (ALEs), employers …
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The IRS has issued its first ACA penalty letters for tax year 2021. While employers have been forewarned, many may not be fully armed to respond in a timely and …
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Summer is upon us and with it come a number of opportunities, and risks, for employers. One critical area of risk is ACA compliance. The summer months mark a critical …
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Looking for ways your company can potentially save hundreds of thousands of dollars? The IRS has recently handed it to you with their recently released IRS Letter 5699, also known …
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While the Affordable Care Act’s Employer Mandate is likely very well known (if not well loved) by employers, many are unaware of the ACA’s Rule of Parity, which offers some …
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ACA Compliance
Classify Workers Correctly to Determine ALE Status and Avoid ACA Penalties
by Robert Sheenby Robert SheenClassifying workers correctly is critical for determining if the requirements of the ACA’s Employer Mandate apply to an organization. The reason? Worker classifications directly impact an employer’s Applicable Large Employer …
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The deadline for electronically filing ACA forms 1094-C and 1095-C for the 2022 tax year was March 31. Did you make the deadline? If you did, were all your submissions …
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ACA Compliance
ACA Measurement Methods Are Critical for Avoiding IRS Penalties
by Robert Sheenby Robert SheenIf 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 …
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ACA Compliance
IRS Limited Non-Assessment Periods Help Avoid ACA Penalties
by Robert Sheenby Robert SheenThe responsibilities under the ACA’s Employer Mandate may seem straightforward, but, in reality, complying with them can be challenging and time-consuming. An area that many Applicable Large Employers (ALEs) struggle …
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ACA ComplianceACA Penalties
These Common Mistakes Can Result in ACA Penalties
by Robert Sheenby Robert SheenWithout the right resources, managing ACA compliance responsibilities can be time-consuming and difficult. There are many issues that can arise during the course of the year that can make employers’ …
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ACA Penalties
These Industries are Most at Risk for ACA Penalties From the IRS
by Robert Sheenby Robert SheenThe home healthcare, staffing, restaurant, and construction industries are under fire from the IRS for failing to comply with the ACA. Organizations within these industries have been shocked to receive …
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ACA DeadlineAffordable Care Act
March 31 is the Deadline for E-Filing ACA Returns With the IRS
by Robert Sheenby Robert SheenToday, 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. …
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ACA DeadlineACA ReportingAffordable Care Act
Deadline to Furnish ACA Form 1095-C is Today
by Robert Sheenby Robert SheenThe deadline for distributing the ACAS 1095-C forms to full-time employees is today, March 2. Did you make it? This deadline applies to Applicable Large Employers (ALEs), or employers with …
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ACA Compliance
AIRs Portal Downtime Could Prove Problematic for Employers
by Robert Sheenby Robert SheenOn 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 …
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ACA ComplianceAffordable Care Act
Data Quality Management Is Key to ACA Compliance
by Robert Sheenby Robert SheenMany of the challenges posed by the Affordable Care Act’s Employer Mandate are inherently data problems. Data quality management is not just an issue for larger employers with multiple HR …
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Affordable Care Act
ACA Reporting to Grow in Complexity Due to State Individual Mandates
by Robert Sheenby Robert SheenACA 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 …
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ACA ComplianceAffordable Care ActLegislation
Calculating FT and FTE Employees [UPDATED]
by Robert Sheenby Robert SheenAs part of their annual filing of healthcare coverage information with the IRS, organizations must determine if they are Applicable Large Employers (ALEs) for purposes of the Affordable Care Act …
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ACA ReportingAffordable Care Act
The IRS’s Forms 1095 For the ACA Explained
by Robert Sheenby Robert SheenA number of changes were introduced to the health insurance marketplace with the passage of the ACA in 2010. From different reporting forms and health insurance plan requirements to the …
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ACA ReportingAffordable Care Act
Understanding ACA Forms 1094-C/1095-C
by Robert Sheenby Robert SheenEmployers 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 …
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ACA ReportingAffordable Care ActIRS
How to Handle ACA Filing Corrections With the IRS
by Robert Sheenby Robert Sheen3 minute read: If you found yourself in a situation where you received receipt of your ACA information returns for 2020 with a status of “Accepted with Errors,” you’re not …
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ACA ComplianceAffordable Care Act
IRS Enforcement of the ACA is Increasing
by Robert Sheenby Robert Sheen3 minute read: IRS enforcement of the ACA is going to increase throughout the remainder of the year and well into 2022, as President Biden’s FY 2022 discretionary request alludes …
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ACA ComplianceAffordable Care Act
What Happens if You Fail to Pay an ACA Penalty?
by Robert Sheenby Robert SheenHave you ever wondered what would happen if your organization didn’t pay an ACA penalty issued by the IRS? In this post, Trusaic explains what you need to know about …
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ACA ComplianceAffordable Care Act
ACA Affordability for the 2021 Tax Year
by Robert Sheenby Robert Sheen2 minute read: For the 2021 tax year, the ACA affordability threshold will increase to 9.83%. That means employees will likely have to contribute more towards their employer-sponsored healthcare. IRS …
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Affordable Care Act
Recapping on Biden’s ACA Reforms, What Employers Need to Know
by Robert Sheenby Robert Sheen3 minute read: Since Biden took office on January 20, 2021, several advancements to the Affordable Care Act followed, so we thought it best to recap on the ACA reforms …
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3 minute read: In December 2020, the Departments of Labor, Health and Human Services, and Treasury (including the IRS) issued a final rule regarding ACA grandfathered health plans. Grandfathered health …
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Affordable Care Act
March 31 is the Deadline for E-Filing ACA Returns With the IRS
by Robert Sheenby Robert SheenToday, March 31, 2022, 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. …
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Affordable Care Act
ACA Improvements to Expect from the Biden Administration
by Robert Sheenby Robert Sheen3 minute read: The inauguration welcoming president-elect Joe Biden to the White House is imminent and with the recent shift in majority control of the Senate, we can expect a …
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Affordable Care Act
Democrats Gain Senate, Paving the Way for Biden’s ACA Agenda
by Robert Sheenby Robert Sheen3 minute read: The results from last week’s Senate runoff race in Georgia have given Democrats control of the Senate, paving the way for Joe Biden’s presidency and his agenda …
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3 minute read: The new year is here, and with it a laundry list of items to be sure your organization has a handle on, including ACA reporting with the …
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3 minute read: The California Franchise Tax Board (FTB) just published Final Regulations on the Individual Shared Responsibility Penalty. The California Individual Mandate, in effect since January 1, 2020, will …
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Affordable Care Act
Minimize Penalties with ACA Best Practices for the Holiday Season
by Robert Sheenby Robert Sheen3 minute read: With the New Year around the corner, employers should begin preparing their ACA Forms 1094-C and 1095-C if they haven’t already begun to do so. Each year, …
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Affordable Care Act
ACA Office Reopens & Issues 2018 Penalty Letters
by Robert Sheenby Robert Sheen1 minute read: The IRS Affordable Care Act (ACA) Enforcement Office, located in Ogden, Utah, had been temporarily closed since late March 2020, due to state stay-at-home orders issued in …
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Affordable Care Act
What California Residents Need to Know About the Individual Mandate
by Robert Sheenby Robert Sheen2 minute read: This year will mark the first year that California residents will face a new reality of the Individual Mandate. While 2019 was a year of reprieve from …
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Affordable Care ActHealth Care Coverage
ACA to Aid Millions in Obtaining Healthcare, KFF Report Finds
by Robert Sheenby Robert Sheen2 minute read: The data is in: at least 27 million Americans have lost employer-sponsored health coverage as a result of COVID-19. The Kaiser Family Foundation issued a report in …
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ACA ComplianceAffordable Care Act
New Jersey Adopts ACA Provision to Lower Healthcare Costs
by Robert Sheenby Robert Sheen3 minute read: Earlier this month, New Jersey signed into law a state version of an Affordable Care Act provision, the Health Insurance Assessment (HIA) program. New Jersey is the …
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2 minute read: House of Representative Democrats have unveiled a bill that would enhance many of the ACA’s components while reversing much of the Trump administration’s onslaught to the healthcare …
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2 minute read: On July 8, 2020 the Supreme Court handed down its decision in Little Sisters of the Poor v. Pennsylvania, upholding the new Trump Administration rule regarding contraceptive …
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Affordable Care Act
ACA’s Expansion of Medicaid Takes Hold in Oklahoma
by Robert Sheenby Robert Sheen3 minute read: In late June, Oklahoma joined 37 other states and the District of Columbia in expanding Medicaid under the ACA. Better late than never and in good timing …
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Affordable Care Act
Californians Beware, The Individual ACA Penalty Has Increased
by Robert Sheenby Robert Sheen2 minute read: California residents that fail to obtain qualified health coverage this year will receive a penalty from the state for an amount larger than first projected. Per California’s …
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2 minute read: Employers should start gearing up for IRS penalty letters issued under the Affordable Care Act. According to an announcement posted on the IRS website, the IRS has …
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2 minute read: The Affordable Care Act (ACA) is the single most important piece of health care legislation in generations. One major reason for the ACA’s significant impact on the …
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Affordable Care Act
Proposed IRS Regs Will Not Affect How Individuals Receive PTCs
by Robert Sheenby Robert Sheen2 minute read: The IRS recently issued proposed regulations on how the personal tax exemption reduction to “0” will affect qualifications for recipients of Premium Tax Credits (PTCs). Regulation 124810-19, …
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Affordable Care ActHealth Care Coverage
ACA’s Expansion of Medicaid Key Player for Providing Health Coverage Amid COVID-19
by Robert Sheenby Robert Sheen2 minute read: By now it’s become abundantly clear how important it is for individuals to have health coverage. COVID-19 or not, healthcare is saving lives and the ACA has …
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3 minute read: If you are a U.S. business, there is a good chance that one or more of your employees have taken emergency paid sick leave. Such leaves may …
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Affordable Care Act
Why CMS’s 2021 Payment Notice May Lead to More PTC Allocations
by Robert Sheenby Robert Sheen2 minute read: Back in March, the Centers for Medicare and Medicaid Services (CMS) issued the Notice of Benefit and Payment Parameters for 2021 (2021 Payment Notice). The rule includes …
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2 minute read: In the wake of the COVID-19 pandemic, the Internal Revenue Service (IRS) has instituted a number of important adjustments to employee benefits plan compliance rules. Recently, the …
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Affordable Care Act
Employers May See More ACA Penalties As a Result of COVID-19
by Robert Sheenby Robert Sheen2 minute read: A new data analysis report from the Kaiser Family Foundation (KFF) finds the vast majority of Americans who lost their job amid COVID-19will be eligible for government …
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ACA ComplianceACA ReportingAffordable Care Act
ACA Penalties to Continue with the IRS Returning to Work
by Robert Sheenby Robert Sheen2 minute read: As states begin to lift their shelter-in-place orders and begin plans to re-open, employers should take note of recent IRSactivity, as the agency is expediting its efforts …
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ACA ComplianceAffordable Care Act
Supreme Court Rules in Favor of ACA Risk Corridors
by Robert Sheenby Robert Sheen2 minute read: The Affordable Care Act chalked up a win in late April when the Supreme Court ordered the federal government to pay insurance companies funding it’s been entitled …