Preventive Service Requirement FAQ On May 11, 2015, the Department of Labor (DOL) along with other federal agencies issued FAQs Part XXVI regarding the implementation of the Patient Protection and Affordable Care Act (PPACA) that focused on coverage of preventive services. Non-grandfathered group
IRS Issues Additional FAQs to Assist with Reporting Requirements under PPACA
Background In order for the Internal Revenue Service (IRS) to verify that (1) individuals have the required minimum essential coverage, (2) individuals who request premium tax credits are entitled to them, and (3) applicable large employers (ALEs) are meeting their shared responsibility (play or
DOL FAQ’s Part XXIV: Summary of Benefits and Coverage
On March 31, 2015, the Departments of Labor (DOL), Health and Human Services (HHS) and the Treasury (Departments) issued a Frequently Asked Question (FAQ) part XXIV announcing their intention to issue final regulations on the SBC requirement in the near future. The final regulations are expected to
Cadillac Tax: IRS Developing Guidance and Invite to Comment
IRS issued Notice 2015-16 to begin implementation of the Cadillac tax for 2018. IRS issued Notice 2015-16 to begin the process of developing guidance to implement the Cadillac tax. Proposed or final regulations have not yet been issued on the ACA’s Cadillac tax provision. This notice describes
W-2 Reporting Requirements – Review
Background The Affordable Care Act (ACA) added Internal Revenue Code (Code) section 6051(a)(14), which requires employers to report the aggregate cost of employer-sponsored group health plan coverage on their employees’ Forms W-2. This reporting requirement was originally effective for the 2011 tax
Certifications of Employee Eligibility for Subsidies
The Affordable Care Act (ACA) requires health insurance Exchanges to send a notice to employers regarding employees who purchase coverage through an Exchange and qualify for a health insurance subsidy. These notices are also called “Section 1411 Certifications” because the notice requirement is
New Guidance on Employer Payment of Individual Premiums
The Departments of Labor (DOL), Health and Human Services (HHS) and the Treasury (Departments) recent guidance specifically addresses “employer payment plans,” under which an employer reimburses or pays premiums for an employee’s individual health insurance policy. According to this guidance,
Cadillac Tax: Tax on High-Cost Health Plans
Beginning in 2018, the Patient Protection and Affordable Care Act requires employers to pay a 40% excise tax on a portion of the value of high-cost health plans. This tax on so-called Cadillac plans is calculated as 40% of the excess of total per employee per year (PEPY) healthcare costs above