The IRS recently issued Notice 2015-16 addressing the excise tax on high cost employer-sponsored health coverage enacted under the Affordable Care Act.
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Health Care
ACA UPDATE: IRS Issues Final Forms And Instructions For Employer Coverage Reporting
The IRS recently issued final versions of the new Forms 1094-B, 1095-B, 1094-C and 1095-C, along with related final Instructions. These forms are for reporting of coverage in 2014, but are expected to be similar for reporting for 2015.
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ACA UPDATE: New Proposed Rules And Template For Group Health Plan SBCs
In December 2014, the government issued new proposed rules regarding the requirements for providing a summary of benefits and coverage (SBC). Simultaneous with the proposed rules, the government also published an updated SBC template and uniform glossary.
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Final ACA 90-Day Waiting Period Rule on Use of Orientation Periods
On June 25, the government issued final rules regarding the use of “bona fide employment-based orientation periods” in connection with the Affordable Care Act’s 90 day waiting period limits. These final rules largely track the proposed rules issued in February.
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Health Care Reform – Updated Employer Compliance Timeline and Checklist
The government has continued to issue a number of regulations and other guidance on the Patient Protection and Affordable Care Act (PPACA) and related health care laws, including the following:…
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Final Rules On Employer Coverage Mandate and 90-Day Waiting Period Requirements
IRS final regulations issued earlier this year provide guidance on compliance with the employer coverage mandate under the Affordable Care Act (ACA), including determining full-time status and offering coverage with minimum value. In addition, the government has also issued final and proposed regulations regarding 90-day waiting periods under the ACA.
While both sets of final…
Health Care Reform – Summary of Notice and Disclosure Obligations
Even before passage of the Affordable Care Act (ACA), group health plan sponsors and administrators faced a significant array of notice and disclosure obligations. Those obligations have only increased with passage of the ACA, and in many cases existing disclosure requirements have been revised.
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IRS Modifies FSA “Use or Lose” Rule To Permit Carryovers
On October 31, 2013, the Internal Revenue Service issued Notice 2013-71, which modifies the “use or lose” rule for flexible spending accounts (FSAs) and permits employers to amend their section 125 “cafeteria” plans to allow employees to carry over up to $500 in unused FSA contributions to the next plan year.
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Health Care Reform – Updated Employer Compliance Timeline and Checklist
Although the employer shared responsibility (“coverage mandate”) rules under the Patient Protection and Affordable Care Act (PPACA) have been delayed one year (to 2015), there are a number of other PPACA requirements that will still be going into effect in 2014.
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Employers Must Provide Notices To Employees Of Health Insurance Exchanges By October 1, 2013
Pundits have written much about the Affordable Care Act’s forthcoming Health Insurance Exchanges, but they have paid little attention to employers’ obligations to notify employees of those Exchanges. The state-based Exchanges, also known as the Health Insurance Marketplace, are expected to go into effect on January 1, 2014, with open enrollment beginning on October 1, 2013. Employees may purchase health insurance through these Exchanges.
Continue Reading Employers Must Provide Notices To Employees Of Health Insurance Exchanges By October 1, 2013