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Posts Tagged 'employer mandate'

Senate Releases the Better Care Reconciliation Act

On June 22, 2017, Republicans in the U.S. Senate released a draft of their proposal to repeal and replace the Affordable Care Act (ACA). The proposal is being called the Better Care Reconciliation Act (BCRA). Debate is currently occurring that will impact whether and when a vote may be taken regarding this Act. While some [...]

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Posted in: Benefits and Insurance, Human Resources, Legislation

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ACA Compliance Update: Affordability Percentages Will Decrease for 2018

Under the ACA, employees (and their family members) who are eligible for coverage under an affordable employer-sponsored plan are generally not eligible for the premium tax credit. The ACA provides that employer-sponsored coverage is considered affordable if the employee’s required contribution for self-only coverage does not exceed a specific percentage of the employee’s household income [...]

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Posted in: Benefits and Insurance, Human Resources, Legislation

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ACA Reporting: Important Information for Employers That Plan to File Directly

As the deadline for meeting the employer reporting requirements under the Affordable Care Act draws closer, it’s critical that employers take steps to ensure that they will be ready to file Form 1094-C and Form 1095-C. While we await the final versions of those forms, the IRS has released draft forms that employers can use [...]

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Posted in: Benefits and Insurance, Human Resources, Legislation

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New Law Increases Affordable Care Act Information Reporting Penalties

As the deadlines regarding the employer reporting requirements under the Affordable Care Act draw closer, a new law has increased the penalties that companies may face for non-compliance. Here is how the Trade Preferences Extension Act of 2015 will increase those penalties: The penalty for failure to file an information return was generally $100 but has been increased to [...]

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Health Care Reform: Year-End Checklist for 2015 Compliance

In 2015, a number of key reforms under the Affordable Care Act will become effective. To help your company assess what it may need to do to meet these compliance requirements, CBG Benefits is pleased to provide an updated compliance checklist. Entitled “Health Care Reform: Year-End Checklist for 2015 Compliance“, this document provides insight and [...]

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Health Care Reform News: Agencies Further Increase the ACA’s Affordability Percentages for 2016

On Nov. 21, 2014, the IRS and HHS released information regarding the the Affordable Care Act’s affordability contribution percentage for 2016. The affordability of health coverage is a key point in determining whether an employer will be subject to a penalty under the laws of Health Care Reform. The “pay or play” rules generally determine [...]

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Health Care Reform News: Agencies Prohibit All Employer Reimbursement of Individual Premiums

Due to the rising costs of health coverage, employers have shown interest in helping employees pay for individual health insurance policies instead of offering employer-sponsored plans. However, on November 6, 2014, guidance was issued stating that these arrangements do not comply with the Affordable Care Act. In addition, the guidance provided stated that this type [...]

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Posted in: Benefits and Insurance, Human Resources, Legislation

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IRS Closes Minimum Value Loophole for Low-cost Employer Plans

Under the Affordable Care Act, minimum value of an employer-sponsored plan is significant for a number of purposes, including the “pay or play” rules or and laws governing exchange subsidies. However, earlier this year, a debate arose whether employer plans with no hospital benefits should be able to avoid the “pay or play” penalty. On November [...]

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Health Care Reform Pay or Play Rules: IRS Proposes Approach for Measurement Period Changes

As we look ahead to 2015, the employer shared responsibility rules under the Affordable Care Act will have a greater impact on large employers. In regards to the requirement faced by employers to offer affordable, minimum value health coverage to full-time employees and dependents, the IRS has provided multiple safe harbor methods that can be used [...]

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Health Care Reform News: Draft Forms and Instructions for Employer Reporting Requirements

Under the Affordable Care Act (ACA), new reporting requirements were created under Internal Revenue Code Sections 6055 and 6056. Under these new rules, certain employers must provide information to the IRS about the health plan coverage they offer (or do not offer) to their employees. The IRS recently released draft version of the forms and instructions [...]

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