IRS Offers Another Extension for 1094s and 1095s A The IRS has, once again, come out with a holiday gift for employers. In the recently-released Notice 2019-63, the IRS provided additional reporting relief for employers for the 2019 calendar year. In short, the Notice provides: The due date to provide Forms 1095-C or 1095-B to […]
Read More...Employer Shared Responsibility (Employer Mandate) Plan Years 2020 2019 2018 2017 2016 2015 2014 Affordability Safe Harbor Percentage 9.78% 9.86% 9.56% 9.69% 9.66% 9.56% 9.50% Employer Mandate Penalties – Calendar Year Penalties 2020 2019 2018 2017 2016 2015 2014 Tier One: Failure to offer coverage or to offer to 95% of employees (70% for 2015) […]
Read More...Employer Shared Responsibility (Employer Mandate) Plan Years 2019 2018 2017 2016 2015 2014 Affordability Safe Harbor Percentage 9.86% 9.56% 9.69% 9.66% 9.56% 9.50% Employer Mandate Penalties – Calendar Year Penalties 2019 2018 2017 2016 2015 2014 Tier One: Failure to offer coverage or to offer to 95% of employees (70% for 2015) $2,500 $2,320 $2,260 […]
Read More...Employers that offer health care coverage to employees are responsible for complying with many of the provisions of the Affordable Care Act (ACA). Most health reform changes apply regardless of the employer’s size, but some changes apply only to small employers and other changes apply only to large employers. Even employers that do not offer […]
Read More...As we reported in our 2nd Quarter Newsletter, the IRS has indicated it would notify applicable large employers (ALEs) in 2017 of their potential penalties for failing to comply with the employer shared responsibility mandate, for the 2015 calendar year. With the numerous attempts this year to repeal or replace the ACA, ALEs may have […]
Read More...Senate Republicans released their health reform overhaul today after weeks of intrigue. The fight going forward is going to be over the reoriented subsidies and Medicaid. There is nothing explicit that allows states to waive out of anything new but the general waiver requirements process has been expanded. The greatly anticipated (and robustly debated) Senate […]
Read More...In Revenue Procedure 2017-36, the IRS announced that for plan years beginning on or after January 1, 2018, employer-sponsored health plan coverage will be considered affordable if the employee’s required contribution for self-only coverage does not exceed 9.56% of the employee’s household income for the year (down from 9.69% for 2017). This percentage is considered […]
Read More...House Republicans just released the latest version of the ACA repeal and replace legislation. The good news for many of our clients is that the Congress has listened to you and us as your brokers, consultants, agents and administrators. Many of us didn’t see the wisdom in upsetting the employer-sponsored-healthcare market (150+ million Americans enjoy […]
Read More...It’s been over a week since the election results came in and since then, you have likely been inundated with emails, seen many television interviews, and heard other news sources espousing predictions of what is on the horizon for employee benefit plans, and specifically, the future of the Affordable Care Act (“ACA”). Indeed, the Trump […]
Read More...On November 18, 2016, the IRS released Notice 2016-70 to extend the due date for employers to furnish Form 1095-C or 1095-B under the Affordable Care Act’s employer reporting requirement. Employers will have an extra 30 days to prepare and distribute the 2016 form to individuals. The due dates for filing forms with the IRS […]
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