On December 18th, 2015, President Barack Obama signed a federal budget bill for 2016 into law which makes significant changes to some of the tax provisions under the Affordable Care Act (ACA). For employers, the most noticeable impact is a delay on implementing the ACA’s “Cadillac Tax” until 2020. Under the ACA, there will be [...]Continue Reading →
Posts Tagged 'delay'
On Oct. 31, 2014, the Centers for Medicare & Medicaid Services (CMS) announced that enforcement of the Health Plan Identifier (HPID) requirement is delayed until further notice. The initial deadline required self-funded employer group health plans (among other “covered entities”) to obtain an HPID by Nov. 5, 2014. CMS has not yet indicated if or when [...]Continue Reading →
Another important component of the Affordable Care Act has been delayed. As the New York Times first reported, full implementation of a law that would limit out-of-pocket costs has been delayed until 2015. As part of Health Care Reform, out-of-pocket costs, including co-payments and deductibles, would not exceed $6,350 for an individual and $12,700 for a family. However, [...]Continue Reading →
One of the major initiatives of the Affordable Care Act — the mandate for employers with 50+ employees to provide health insurance — has been delayed one year. Originally scheduled to be enforced starting on January 1st, 2014, Assistant Treasury Secretary for Tax Policy Mark Mazur posted an article stating that the “Pay or Play” [...]Continue Reading →