On May 5, 2017, the Internal Revenue Service (IRS) issued Revenue Procedure 2017-36 to index the contribution percentages in 2018 for purposes of determining affordability of an employer’s plan under the Affordable Care Act (ACA).
On April 12, 2016, the Internal Revenue Service (IRS) released new guidance on the percentages used to determine what is considered “affordable” health coverage.
Under the Affordable Care Act (ACA), the affordability of an employer’s plan may be assessed for the employer shared responsibility penalty, the individual mandate and the premium tax credit. The affordability test varies for each provision.
The new year tends to bring new HR trends and topics to the forefront. In this article, we’ll look at five topics we expect to dominate HR-related conversations in 2016: health care reform, marijuana in the workplace, proposed changes to the Fair Labor Standards Act, minimum wage increases, and paid sick leave trends.
The HHS Notice of Benefit and Payment Parameters for 2017 was released last month. The rule increases out-of-pocket maximums and sets open enrollment periods for individual coverage over the next few years. Changes will also be seen in state and federal based Exchanges.
A New York district court will hear the first case on whether employers may reduce their employees’ work hours in order to avoid providing health benefits required under the Affordable Care Act (ACA).
On Feb. 9, 2016, the court rejected Dave & Busters’ motion to dismiss the case. This is the first case of its kind, and will set a precedent for other employers who are considering or have implemented similar strategies regarding their employees’ work hours as a result of the ACA.
On Dec. 18, 2015, President Obama signed a federal budget bill for 2016 into law, which makes significant changes to three ACA taxes. The new law delays the Cadillac tax for two years, and temporarily suspends collection of the health insurance providers fee and the medical devices tax. Check out how this new law impacts the ACA.
The Internal Revenue Services (IRS) recently released Notice 2015-87, which clarified a number of ACA rules for employer-provided coverage, including employer shared responsibility penalties and ACA market reforms.
Significantly, the notice addressed how certain plan features, such as flex credits and opt-out incentives, affect whether an applicable large employer’s coverage is affordable.
The IRS has announced that the deadlines for 2015 Section 6055 and 6056 reporting have been delayed to give employers and other providers more time to analyze and report coverage information.
Despite this delay, employers should not put off completing these forms. The IRS is encouraging employers to furnish statements and file information returns as soon as they are ready.