With open enrollment for the 2024 calendar year approaching quickly, organizations should turn their attention to ACA compliance efforts to ensure their processes and procedures for administering health plans are …
Premium Tax Credit
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The Affordable Care Act (ACA) has undergone recent developments that carry significant implications for employer ACA compliance and reporting requirements. One of the most notable changes is the resolution of …
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ACA ComplianceACA Penalties
Avoid These Compliance Triggers to Minimize ACA Penalty Risk
by Robert Sheenby Robert SheenIt’s no secret the IRS is ramping up ACA enforcement. With additional funding for improving its tax correspondence processing infrastructure, more staff than ever, and a renewed focus on compliance, …
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ACA Compliance
There’s Been an Uptick in ACA Enrollment – Here’s Why
by Robert Sheenby Robert SheenRecord numbers of Americans are enrolling in affordable healthcare through state and federal marketplaces. Nearly 16 million Americans have signed up for individual market health insurance coverage since November 1, …
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Affordable Care Act
Upcoming ACA Open Enrollment Shaping Up To Be Strongest Yet
by Robert Sheenby Robert SheenACA open enrollment for the 2023 plan year is just over a month away, and this time, individuals may have more options and a better experience than years prior. We …
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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 …
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ACA ComplianceACA Reform
How Build Back Back Better Would Reshape U.S. Healthcare
by Robert Sheenby Robert SheenWith 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 …
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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 ReportingAffordable Care Act
IRS ISSUES ACA 2018 FORMS 1094-C AND 1095-C, INSTRUCTIONS, AND 226J FOR 2016
by Robert Sheenby Robert Sheen1 minute read: The IRS has released the final 1094/1095-C schedules and reporting instructions for the 2018 tax year, to be filed and furnished in 2019. You can find the …
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ACA ComplianceAffordable Care ActIRS 226J/226-J
How to Respond to IRS Letter 226J for the 2016 Tax Year [INFOGRAPHIC]
by Robert Sheenby Robert Sheen1 minute read: IRS staff has confirmed that the agency will begin issuing Letter 226J penalty notices for the 2016 tax year in the next few weeks. If you receive …
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ACA ComplianceACA ReportingIRS 226J/226-J
These Errors Greatly Determine Your Penalty Assessment in IRS Letter 226J
by Robert Sheenby Robert Sheen3 minute read: The issuance of Letter 226J for IRS information filings submitted for the 2015 tax year has caught many organizations off guard. More than 30,000 notices have been …
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If you haven’t filed your taxes yet, then you may have avoided having to file an amended return if you received a corrected 2017 Form 1095-A for the Healthcare Marketplace. …
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IRS 226J/226-JPremium Tax Credit
Employees Obtaining Premium Tax Credits Can Trigger IRS Letter 226J for Employers
by Robert Sheenby Robert SheenIndividual taxpayers who obtain Premium Tax Credits from the federal government to subsidize health insurance plans purchased on government healthcare exchanges under the Affordable Care Act (ACA) will be filing …
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The IRS has announced the penalty amounts for companies with 50 or more full-time or full-time equivalent employees that do not comply with the Affordable Care Act (ACA) for the …
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Affordable Care ActIRS
How to Respond to IRS Letter 226J About Affordable Care Act Penalties
by Robert Sheenby Robert SheenIt’s the letter no one wants to receive. However, its coming and you need to be prepared just in case your company or client receives it. It is Letter 226J, …
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ACA ComplianceIRSIRS 226J/226-J
The IRS Will Start Issuing ACA Penalty Notices in 2017
by Robert Sheenby Robert SheenAs we reported earlier this year, indications from the IRS pointed to the agency sending enforcement notices by December 2017 to businesses with 50 or more employees – referred to …
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ACA ReportingIRS
IRS Extends Voluntary Reporting Of Catastrophic Coverage
by Robert Sheenby Robert SheenThe IRS released Notice 2017-41 last month, informing health insurance issuers of further guidance surrounding the reporting of catastrophic plan coverage acquired through the ACA’s Health Insurance Marketplace. It’s the …
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Affordable Care ActHealth Care Coverage
U.S. Senate Health Committee Works to Reach Consensus With Healthcare Hearings Over
by Robert Sheenby Robert SheenCan they reach a bipartisan consensus on fixing healthcare? That’s the question now that the U.S. Senate Committee on Health, Education, Labor and Pensions has completed its hearings on stabilizing …
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The Affordable Care Act (ACA) has made significant strides in making healthcare affordable thanks to subsidies like Premium Tax Credits (PTCs), but that assistance can ultimately affect tax liability. At …
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ACA CompliancePremium Tax Credit
Incorrect PTC Calculations Show that Technology Is A Gift and a Curse
by Robert Sheenby Robert SheenOver the last two years, the IRS has made some strides in ensuring that certain ACA-mandated processes are as seamless as possible for taxpayers and employers, from streamlining electronic form …
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IRSPremium Tax Credit
The IRS Finalizes Regulations for ACA Premium Tax Credits
by Robert Sheenby Robert SheenThe IRS on July 24 finalized regulations for the use of premium tax credits. These are the tax credits provided by the Affordable Care Act (ACA) to help lower income …
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Affordable Care ActLegislation
Updated Better Care Reconciliation Act Released
by Robert Sheenby Robert SheenThe U.S. Senate has released a new, updated draft of the Republican-proposed Better Care Reconciliation Act aimed at winning over Republican Senators who were not enamored of the initially proposed …
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Health Insurance Marketplace
President Trump’s New Tax Plan May Affect The Health Care Market As We Know It
by Robert Sheenby Robert SheenEarlier this month, we learned that President Trump attempted to yet again repeal and replace the Affordable Care Act. This time it worked with the House passing the American Health …
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ACA ReportingAffordable Care ActHealth Insurance Exchanges
How to Successfully Appeal an Exchange Notice from the Healthcare Marketplace
by Robert Sheenby Robert Sheen– Op-Ed published on April 7, 2017 on ‘Accounting Today’ – Some companies across the country may have experienced receiving exchange notices from the health insurance marketplace informing them they …
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Affordable Care ActHealth Care Coverage
Another Attempt to Repeal the ACA in the Foreseeable Future? Unlikely.
by Robert Sheenby Robert SheenIt’s been more than seven years since the enactment of the Patient Protection and Affordable Care Act (ACA) and there were some 60 plus attempts to repeal by Republicans during …
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Affordable Care ActHealth Care CoverageReporting
IRS Extends Transition Relief For QSE HRA Notice
by Robert Sheenby Robert SheenAt the close of February, the IRSreleased a notice regarding qualified small employer health reimbursement arrangement (QSE HRA) notices and an extension until further guidance is provided. These notices are …
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Health Care CoverageReporting
Employer Reporting Continues Under House Republican Leadership Proposed Bill
by Robert Sheenby Robert SheenOn March 6, 2017, the House Leadership recently unveiled its proposed bill called “American Health Care Act.”Among its provisions, the bill calls for termination of the issuance of premium tax …
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ACA ComplianceAffordable Care ActReporting
The Reality Of ACA Penalties Post-Repeal
by Robert Sheenby Robert SheenAs Donald J. Trump officially takes his seat as the 45th President of the United States, we inch closer to the reality of an Affordable Care Act repeal. While the …
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Affordable Care ActIRSRegulations
IRS Finalizes Regulations Adopt Intentional or Reckless Disregard of Facts Exceptions to Employee Safe Harbor
by Robert Sheenby Robert SheenThe IRS has provided clarity with regard to what qualifies as an “intentional or reckless disregard of facts” by employees when it comes to seeking shelter under the employee Premium …
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ACA Compliance
Regardless of Election & Rhetoric, Employers Are Still on the Hook for 2016 ACA Reporting
by Robert Sheenby Robert SheenIt remains unclear whether Trump and the Republican-majority Congress will repeal and replace the ACA. Shortly after loudly pledging that he will repeal and replace the ACA, just three days …
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Affordable Care Act
That Spike In Premium Rates Probably Won’t Affect Your Marketplace Plan
by Robert Sheenby Robert SheenFear of premium hikes comes with good reason. As those looking to renew their health plans from the Federal Healthcare Insurance Marketplace Exchange (Federal Exchange) under the Affordable Care Act …
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ACA ComplianceOccupational Safety and Health Administration (OSHA)Regulations
ACA Retaliation Claims: The Final Verdict Comes From OSHA
by Robert Sheenby Robert SheenUnder the Affordable Care Act, employees unable to afford the minimum essential coverage from employers are possibly eligible for Premium Tax Credits from the Health Insurance Marketplace to assist in …
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2016 Presidential ElectionACA ComplianceReporting
With Trump Election Employers Still on Hook for 2016 ACA Reporting
by Robert Sheenby Robert SheenWith the stunning election of Donald Trump as President comes a serious question of what happens to the Employer Mandate under the Affordable Care Act (ACA), also known as “Obamacare.” …
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Affordable Care ActReporting
Know Your Dates Or Face Penalties: An Infographic
by Robert Sheenby Robert SheenWe are nearing the end of the 2016 tax year, and with it comes the inevitable document filings come early 2017. As per the ACA, many key dates are mandated …
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Affordable Care Act
A Quick Update On The ACA From The ABA’s Health and Welfare Benefit Plans National Institute
by Robert Sheenby Robert SheenOn October 6th and 7th, officials from several governmental departments—including the Treasury Department—gathered in Washington, D.C. for the American Bar Association’s (ABA) Health and Welfare Benefit Plans National Institute. Officials …
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Affordable Care ActUninsured
Study Shows Millions Of Uninsured Eligible Americans Are Still Underutilizing The ACA
by Robert Sheenby Robert SheenThe Kaiser Family Foundation has released another report surrounding ACA figures, and the results are astounding. In a report of “Estimates of Eligibility for ACA Coverage among the Uninsured in …
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Affordable Care ActHealth Care CoverageRegulations
News From Washington: ACA Has To Tighten Up Pediatric Dental Care
by Robert Sheenby Robert SheenWhen it comes to healthcare under the Affordable Care Act, many points of coverage can often be an afterthought. QHPs, or “qualified health plans,” are required to fulfill ten “essential …
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Form 1094-CForm 1095-CReporting
Updated Forms 1094-C And 1095-C Are Here
by Robert Sheenby Robert SheenThe IRS has released the final updated Forms 1094-C and 1095-C,and while there aren’t many modifications, there are some changes of note. As you probably already know, Form 1094-C is …
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ACA ComplianceHealth Insurance Marketplace
It’s A Brand New Day For Marketplace Notices And Appeals
by Robert Sheenby Robert SheenOver the course of the year, many employers participated in a widespread panic over notices mailed to them from the ACA’s Health Insurance Marketplace. These notices summarized that an employee …
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Premium Tax CreditTax Filings
Late Filers: Is Your Premium Tax Credit In Jeopardy?
by Robert Sheenby Robert SheenFor those who received an advance payment for the Premium Tax Credit, yet have extended their 2015 tax return filing or don’t file at all, there’s something you should know. …
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ACA Compliance
More Tips On Avoiding Penalties During ACA Information Reporting
by Robert Sheenby Robert SheenEmployers have lost a significant margin of error when it comes to ACA information reporting in 2016. As previously discussed, as the good faith standard for incomplete or inaccurate reporting …
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Affordable Care ActHealth Care CoveragePolls/Surveys
The ACA Brings Another Win To California
by Robert Sheenby Robert SheenIn the 4th Kaiser Family Foundation Longitudinal Panel Survey, some impressive findings surround the state of California. The survey polled a randomly selected pool of uninsured adult Californians and tracked …
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Affordable Care Act
The ACA Comes Under Fire Again For Allocations Of Funds
by Robert Sheenby Robert SheenOnce again furthering the rift between the Democrats’ and Republicans’ respective opinions of the Affordable Care Act, cost-sharing reductions return to question. In a hearing held in July, a representative …
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By the time July kicked off, many employers received notices from the Health Insurance Marketplace aka “the Exchange,” provided by the Affordable Care Act where individuals and families can obtain …
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One of the most talked about issues regarding employers and health care for their employees is under Internal Revenue Code 4980H. This Code, being Shared Responsibility for Employers Regarding Health …
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Affordable Care ActPremium Tax CreditRegulationsShared Responsibility Payment
IRS Update: Premium Tax Credit And Shared Responsibility Payment
by Robert Sheenby Robert SheenNew regulations have arrived for the ACA’s Premium Tax Credit and Shared Responsibility Payment provisions. For the 2015 tax year, many employers and employees encountered difficulties with regard to the …
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Affordable Care ActHealth Insurance Marketplace
Marketplace Notices: They’re Not (Always) As Bad As You Think
by Robert Sheenby Robert SheenIn May, the ACA Times released an article detailing what exactly a notice from the Health Insurance Marketplace entails. As previously stated, this notice is to inform employers that one …
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Affordable Care ActHealth Care CoveragePenalties
ACA Modifications: We’re Not In 2010 Anymore
by Robert Sheenby Robert SheenWhen the Affordable Care Act (ACA) was first enacted in 2010, it was with the understanding that changes would be made to the ACA after the fact. Health care reform …
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ACA ComplianceAffordable Care ActTax Filings
Don’t Make 2015’s Mistakes In 2016
by Robert Sheenby Robert SheenThe June 30, 2016 deadline for employers to file their applicable 2015 health care tax return with theIRShas passed.For many employers, the damage is done.Skipped deadlines, misclassifications, and ignoring of …
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ACA ComplianceTIGTA
Is Cybersecurity An Issue When Using The ACV? The TIGTA Weighs In
by Robert Sheenby Robert SheenThe Treasury Inspector General for Tax Administration (TIGTA) released a report highlighting security and testing risks when determining ACA compliance through the IRS’s ACA Compliance Validation System (ACV). Considering the …