ACA Times

MAY 9, 2023

One of the silver linings of the COVID-19 pandemic and all of the illness, death, and economic upheaval it created is the fact that the pandemic led to millions more… The post You, Your Employees, and the ACA: Avoiding Penalties first appeared on The ACA Times.

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ACA Times

APRIL 18, 2023

Shortly after the White House celebrated 13 years of success with the ACA last month, Northern Texas federal judge Reed O’Connor issued a nationwide injunction regarding the law’s free preventive… The post Texas Judge Strikes Down ACA Preventive Care Services first appeared on The ACA Times.

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ACA Times

FEBRUARY 22, 2023

A set of proposed rules issued by the Internal Revenue Service, Employee Benefits Security Administration, the Centers for Medicare and Medicaid Services, earlier this month aims to expand free access… The post 4 Ways ACA Preventive Care Provisions Will Change if New Proposed Rules Pass first appeared on The ACA Times.

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ACA Times

FEBRUARY 9, 2023

Employers, take note: 2023 brings heftier IRS penalties for failure to comply with the ACA’s Employer Mandate. Under the Employer Mandate, ALEs, or employers with 50 or more full-time employees,… The post Employers Will See Increased ACA Penalties in 2023 first appeared on The ACA Times.

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ACA Times

NOVEMBER 9, 2022

ACA filing for the 2022 tax year is fast approaching. Employers with operations in Rhode Island should take note of the recent changes made regarding ACA filing and furnishing. Late…. The post Rhode Island Permanently Extends ACA Filing Deadlines first appeared on The ACA Times.

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ACA Times

OCTOBER 13, 2022

Republicans in Congress are abandoning their efforts to repeal the 12-year-old Affordable Care Act. With this in mind, organizations should revisit their ACA Employer Mandate responsibilities. Plus, the recently passed…. The post Employers, Take Note: ACA No Longer Being Repealed first appeared on The ACA Times.

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ACA Times

SEPTEMBER 15, 2022

ACA open enrollment for the 2023 plan year is just over a month away, and this time, individuals may have more options and a better experience than years prior. We…. The post Upcoming ACA Open Enrollment Shaping Up To Be Strongest Yet first appeared on The ACA Times.

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ACA Times

SEPTEMBER 13, 2022

Just when you thought the ACA was finally out of the line of fire, another lawsuit questioning its constitutionality makes its way to the forefront. This time it’s an attack…. The post Texas Judge Rules ACA Preventive Care Unconstitutional first appeared on The ACA Times.

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ACA Times

AUGUST 17, 2022

Following many months of debate, Biden signed the Inflation Reduction Act into law yesterday, marking a historic occasion for the future of U.S. healthcare, the environment, and tax enforcement. Included…. The post Inflation Reduction Act Passes: IRS Enforcement Ramping Up first appeared on The ACA Times.

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ACA Times

AUGUST 3, 2022

Late last week news broke regarding a $300 billion bill that would extend the enhanced ACA subsidies issued via Premium Tax Credits (PTC) through 2025. It all started when Senator…. The post Inflation Reduction Act to Extend Enhanced ACA Subsidies first appeared on The ACA Times.

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ACA Times

JULY 21, 2022

As we’ve previously noted, IRS enforcement of the ACA’s Employer Mandate is ramping up. Most recently, the agency has begun requesting more detailed information from employers being audited for suspected…. The post IRS Requesting More Detail in ACA Audits first appeared on The ACA Times.

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ACA Times

JULY 19, 2022

Now that we’ve cleared the 2022 halfway mark, it appears the IRS is on track to hit its goal of clearing the historic backlog by the end of the year.…. The post IRS Now Issuing Letter 5699 For 2020 Tax Year first appeared on The ACA Times.

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ACA Times

JUNE 1, 2022

Without the proper tools or subject matter expertise, tackling the responsibilities of the ACA’s Employer Mandate on your own can be overwhelming. This is especially true if you are an…. The post Get to Know the ACA’s Rule of Parity first appeared on The ACA Times.

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ACA Times

JUNE 7, 2022

May 31, 2022, marked the end date for filing California state ACA reporting information for the 2021 tax year. Did you get your information in on time? While it’s true the official filing deadline was March 31, 2022 , California’s Franchise Tax Board (FTB) will not issue penalties for filings submitted through May 31, 2022. . Unfamiliar with California’s Individual Mandate?

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ACA Times

MAY 18, 2022

Employers should review their ACA compliance processes carefully in light of new data issued by the Kaiser Family Foundation (KFF). Below we’ve identified why. Key PTC findings. Health exchange enrollees claimed an estimated total of 9.7 million Premium Tax Credits (PTCs) throughout the 2021 tax year. This information represents over $56 billion in funds allocated to Americans in support of obtaining more affordable health coverage.

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ACA Times

APRIL 27, 2022

The last several years have been difficult for the IRS, but now that the historic backlog has an end date , the agency is making significant progress on a long list of to-do items, including issuing ACA penalties. Over the last month or so, we’ve heard from our partners, brokers, and new clients about the flurry of ACA penalties being issued from the IRS, namely, the notorious Letter 226J.

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ACA Times

MARCH 22, 2022

With the 2021 ACA reporting season coming to an end later this month, employers should turn their attention to ACA compliance for the 2022 tax year. A key component of that requires calculating ACA affordability. The ACA affordability threshold for the 2022 tax year is 9.61%. This is a slight decrease from the 2021 tax year, which set ACA affordability at 9.83%.

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ACA Times

JANUARY 6, 2022

It’s 2022 and time to begin preparing the annual 1095-C filings with the IRS and select state governments. Are you ready? If you need a refresher on the different 1095-C coding options for this year, we’ve got you covered. Below are all of the different coding options for Line 14 of the 1095-C Form. 1A: The 1A code communicates that the individual received a Qualifying Offer, which is an offer of Minimum Essential Coverage (MEC) that provides Minimum Value (MV) and is affordable under the Federa

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ACA Times

JANUARY 4, 2022

Employers ringing in the New Year should remember that several states ’ have additional ACA filing and furnishing obligations that must be completed for the 2021 tax year. To help you get a handle on the many state ACA deadlines, we’ve listed the due dates and reporting requirements for the 2021 tax year, to be filed in 2022, below. California . Self-funded employers and health insurance carriers in California must furnish healthcare information to their employees and their dependents by January

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ACA Times

DECEMBER 20, 2021

On December 9, 2021, the IRS published the final ACA reporting instructions for the 2021 tax year , including the final 1094-C and 1095-C forms. As expected, the forms and instructions are nearly identical to the draft forms released in July. Below we’ve covered what you need to know about the final ACA reporting instructions for the 2021 tax year. Two new codes for Line 14 of the 1095-C.

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ACA Times

NOVEMBER 18, 2021

With the Infrastructure Bill now officially signed into law, Congress will now shift its focus onto the $1.75 trillion Build Back Better proposal. In its current version, the plan could reshape U.S. healthcare and the ACA. To start, the plan allocates roughly $130 billion to expand Medicaid and reduce medical premiums for ACA coverage, according to CNBC.

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ACA Times

NOVEMBER 9, 2021

Every year employers must file their ACA information via forms 1094-C and 1095-C to the IRS and any state government. For the last seven years, there have been two methods for doing this, that is until now. A new IRS proposed rule seeks to phase out the paper-filing option by 2023, leaving it intact for only the smallest subset of employers. Specifically, the proposed rule would reduce the 250 count threshold to 100 for filings due in 2022.

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ACA Times

OCTOBER 28, 2021

On October 2, 2020, the IRS issued Notice 2020-76 , extending the deadline for employers to furnish ACA Forms 1095-C to applicable full-time employees from January 31, 2021, to March 2, 2021. Will the agency issue an extension for the 2021 tax year? To further align with the agency’s goals to identify ACA Employer Mandate non-compliance, it makes sense for the agency to not issue an extension.

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ACA Times

OCTOBER 19, 2021

The IRS recently announced the ACA affordability percentage for the 2022 tax year and with that information comes speculation around the Employer Mandate’s IRC Section 4980H(a) and (b) penalty amounts for the 2022 tax year. Under the ACA’s Employer Mandate , employers with 50 or more full-time employees and full-time equivalent employees, known as Applicable Large Employers (ALEs) must: Offer Minimum Essential Coverage (MEC) to at least 95% of their full-time employees (and their dependents) whe

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ACA Times

OCTOBER 14, 2021

The ACA is receiving some of the highest approval ratings since it was first signed into law in 2010. According to a June poll from the Kaiser Family Foundation (KFF) , 53% of American adults are in favor of the ACA and only 35% find the law unfavorable. The survey asked respondents, “As you may know, a health reform bill was signed into law in 2010.

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ACA Times

SEPTEMBER 28, 2021

The fourth quarter is right around the corner and with it comes the inevitable tax filing season. Employers should give special attention to their ACA reporting obligations this year as there are a number of significant developments that will add complexities to the now seven-year-old reporting requirement. For FY 2022, the IRS is receiving nearly $1 billion in additional funding for tax enforcement, including the ACA’s Employer Mandate.

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ACA Times

SEPTEMBER 1, 2021

It’s become abundantly clear that the IRS is ramping its enforcement of tax compliance. With Biden requesting additional funding for the agency, employers should note that as part of increased enforcement efforts, IRS penalties under the ACA’s Employer Mandate will be increasing as well. Under the ACA’s Employer Mandate , employers with 50 or more full-time employees and full-time equivalent employees, known as Applicable Large Employers (ALEs) must: Offer Minimum Essential Coverage (MEC) to at

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ACA Times

AUGUST 17, 2021

The IRS recently issued a notice that further clarifies the usage of Consolidated Omnibus Budget Reconciliation Act (COBRA) coverage as amended via the American Rescue Plan (ARP). IRS Notice 2021-46 expands on 2021-31 and identifies several parameters around COBRA continuation coverage in a question and answers format. Before diving into the specifics, it’s important to note how the ARP created changes to COBRA coverage for select individuals.

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ACA Times

JULY 26, 2021

In June, the ACA’s special enrollment period garnered 1 million sign-ups through the federal health exchange, HealthCare.gov. A month later and the number of enrollees has doubled. On July 14, the Centers for Medicare and Medicaid Services (CMS) released new enrollment data that demonstrates more than 2 million Americans have signed up for ACA health coverage through federal and state health exchanges as a result of Biden’s special enrollment period. .

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ACA Times

NOVEMBER 6, 2014

Employer’s won’t be able to use so-called “skinny” health plans to meet coverage requirements of the Affordable Care Act , according to a notice issued Nov. 4 by the Internal Revenue Service (IRS) and the Department of Health and Human Services (HHS). The agencies issued Notice 2014-69, which said employers cannot use plans that sharply limit for inpatient hospital services and/or physician services to meet the “ minimum Value” requirements of Internal Revenue Code section 4980H , commonly refer

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ACA Times

DECEMBER 3, 2014

A legal challenge to the administration’s postponement of the Affordable Care Act’s employer mandate was denied by a 3-judge panel of the U.S. Circuit Court of Appeals. The panel ruled on Dec. 2 that the Florida company challenging the postponement did not have standing to sue because it failed to show it had been harmed by the delay. In February of 2014 the Obama administration delayed by two years, to 2016, the mandate for businesses with 50 or more full-time workers to provide health insuranc

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ACA Times

DECEMBER 17, 2014

Grants totaling over $665 million will go to 28 states, 3 territories and the District Columbia to design and test innovative and delivery models aimed at improving quality and lowering costs under the Act. and Human Services Secretary Sylvia M. Burwell, announced the awards, funded by the Act, Dec. 16. A previous round awards with similar goals was released in early 2013.

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ACA Times

DECEMBER 22, 2014

“The Supreme Court said Monday, Dec. 22, that it will hear oral arguments in King v. Burwell on March 4 th. Court observers said the Justices are likely to issue their opinion by the end June. The case, which challenges the legality subsidies to consumers in states that don’t operate state marketplaces, is the only one scheduled for oral arguments on that date.

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ACA Times

DECEMBER 23, 2014

More than 3.9 million consumers selected Affordable Care Act plans on the federal health insurance exchange during the fifth week of open enrollment,the Department of Health and Human Services (HHS)announced on Dec. 23. Total signups reached nearly 6.4 million since the enrolment period began. The most recent report covers the period of Dec. 13 to Dec. 19.

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ACA Times

JANUARY 8, 2015

The House Representatives, ignoring a veto threat from President Barack Obama , passed a bill Thursday that would ease the requirement under the Act for to provide to their workers. The measure, passed 252-172, would require to provide to workers who put in 40 or more , rather than the – threshold currently in effect. The bill now goes to the Senate, where Republicans now hold a majority.

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ACA Times

JANUARY 15, 2015

The IRS and the Department of Health and Human Services (HHS) are providing new resources to give answers to tax filers and tax preparers on questions they may have about complying with Affordable Care Act requirements. Tax returns this year will for the first time ask families to provide information regarding their health insurance. According to HHS, more than 75% taxpayers will simply have to check a box indicating they have coverage.

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ACA Times

JANUARY 21, 2015

Just over 400,000 consumers selected Affordable Care Act plans on the federal health insurance exchange during the eighth week of open enrollment, the Department of Health and Human Services (HHS) announced on Jan. 21. Total signups reached more than 7.16 million since the enrollment period began on Nov. 15, 2014. The most recent report covers the period of Jan. 10 to Jan. 16.

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