On December 18th, 2015, President Barack Obama signed into a law a bill that delays implementation of the Cadillac Tax until 2020. Beginning in 2018, the Affordable Care Act (ACA) imposes a 40 percent excise tax on high-cost group health coverage, also known as the “Cadillac tax.” On July 30, 2015, the IRS issued additional [...]Continue Reading →
Posts Tagged 'health coverage'
To help employers prepare to meet reporting requirements under the Affordable Care Act, the IRS recently released draft forms related to the “Pay or Play” rules. This compliance requirement will support IRS Code Sections 6055 and 6056. The intention of this effort is to promote transparency regarding health plan coverage and costs. In addition, these [...]Continue Reading →
To avoid duplication with the Affordable Care Act (ACA), Massachusetts officially repealed the state’s own employer health care coverage rules on June 12th, 2014. Initially established in 2006, Massachusetts employers faced “pay or play” rules under the state’s Health Care Reform Act. Under the Fair Share Contribution rule, certain employers faced a penalty of up [...]Continue Reading →