ACA Times

SEPTEMBER 6, 2023

In the ever-evolving landscape of health insurance, Virginia finds itself at a pivotal crossroads. The recent inability of the Virginia General Assembly to reach a consensus on the reinsurance program… The post Reinsurance in Virginia: Navigating the Uncertainties and Implications first appeared on The ACA Times.

ATS 246

ATS 246

ACA Times

AUGUST 30, 2023

The U.S. Department of Health and Human Services (HHS) recently released a report showing that the national uninsured rate reached an all-time low of 7.7 percent in early 2023. This… The post National Uninsured Rate Reaches All-Time Low in 2023 first appeared on The ACA Times.

Report 245

Report 245

ACA Times

JULY 5, 2023

Summer is upon us and with it come a number of opportunities, and risks, for employers. One critical area of risk is ACA compliance. The summer months mark a critical… The post ACA Compliance and the Sounds of Summer first appeared on The ACA Times.

Compliance 130

Compliance 130

ACA Times

JUNE 28, 2023

ACA compliance has been a complex, time-consuming, and costly endeavor for employers across the country, and compliance isn’t made any easier by the fact that ACA requirements are dynamic and… The post PCORI Fees Are Increasing in 2023: What You Need to Know first appeared on The ACA Times.

Compliance 130

Compliance Report 130

ACA Times

JUNE 21, 2023

Many organizations find ACA compliance to be challenging and time-consuming, leading to potential penalties from the IRS. But while almost all organizations need to comply with reporting requirements (those that… The post Industries Most at Risk for ACA Penalties first appeared on The ACA Times.

Industry 130

Industry ATS Compliance Report 130

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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Employee Benefits Compliance 246

ACA Times

FEBRUARY 15, 2023

There are many factors at play when determining which company shoulders the responsibility of ACA reporting falls on during a merger or acquisition. Ultimately, ACA reporting requirements are the obligation… The post ACA Compliance Concerns That May Arise During Mergers and Acquisitions first appeared on The ACA Times.

Compliance 130

Compliance Report Company ATS 130

ACA Times

NOVEMBER 29, 2022

Employers looking toward the new year will need to keep the 2023 ACA reporting deadlines in mind to avoid steep penalties from the IRS. Every year, Applicable Large Employers (ALEs)…. The post Prepare for Upcoming 2023 ACA Reporting Deadlines first appeared on The ACA Times.

Report 130

Report 130

ACA Times

NOVEMBER 17, 2022

As the number of available healthcare coverage options increases, more and more employers are turning to individual coverage health reimbursement arrangements (ICHRAs). A relatively new player in the market, ICHRAs…. The post Employers Investing More in ICHRAs Poses ACA Coding Risk first appeared on The ACA Times.

Report 130

Report 130

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.

Report 246

Report 246

ACA Times

AUGUST 25, 2022

Since ACA reporting was first required by employers in 2015, the affordability component under the Employer Mandate was established each year by indexing the standard of 9.5%. This has always…. The post Understanding ACA Affordability for 2023 Tax Year first appeared on The ACA Times.

Report 130

Report Analysis Compliance 130

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.

Compliance 26

Compliance 26

ACA Times

AUGUST 11, 2022

Trends to eliminate discrimination in all facets of the workplace continue to take hold across the country. Health and Human Services (HHS) is the latest government agency to make this…. The post HHS Proposes Rule to Bolster ACA’s Section 1557 first appeared on The ACA Times.

Discrimination 239

Discrimination Trends Compliance 239

ACA Times

AUGUST 4, 2022

Last week the IRS announced the affordability percentage for Premium Tax Credits (PTCs) and employee contributions for employer-sponsored health coverage. In IRS Rev. Proc 2022-34, the agency makes clear that…. The post ACA Affordability Drops to Historic Low for 2023 Tax Year first appeared on The ACA Times.

Compliance 246

Compliance 246

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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246

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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Data Compliance Meeting Wellness 246

ACA Times

MAY 11, 2022

Last month the IRS published a proposed regulation that would amend the existing rule regarding employer-sponsored Minimum Essential Coverage (MEC) for family members of an employee. . The proposed rule would effectively solve the “family glitch” and make coverage more affordable for spouses and dependents, instead of just for the employee.

Compliance 130

Compliance Report Meeting Company 130

ACA Times

MAY 5, 2022

Following the 2021 tax year, the ACA has garnered the highest number of enrollments it has ever seen. Over 35 million Americans have obtained health coverage because of the ACA, according to a report issued by the Department of Health and Human Services (HHS). Of the 35 million enrollees an estimated 13.6 million enrolled through health exchanges, and over 21 million opted into Medicaid coverage, including 16.8 million who were not eligible prior to the ACA’s expansion.

Compliance 130

Compliance Comparison Report Course 130

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.

Assessment Software 130

Assessment Software Compliance Meeting Examples 130

ACA Times

FEBRUARY 16, 2022

The IRS recently announced it is suspending certain mailings of automated collections and various other notices in an effort to get through its current backlog. As such, the agency will no longer be sending out select mail notifications, including CP501, CP503, and CP504 notices. The last notice has previously been used to inform taxpayers of an inability to pay an ACA penalty assessment. .

Background screening 130

Background screening Compliance Resources Examples 130

ACA Times

FEBRUARY 9, 2022

The IRS is experiencing a massive mail backlog of unprocessed documents first caused by COVID-19. Included in that backlog of notices are ACA penalty assessments. To help the situation, the agency said it would be reassigning 1,200 employees to assist with the 2021 tax season distribution, which at the onset only compounded the backlog, making a bad situation worse. .

Assessment Software 130

Assessment Software Report Compliance Immedis 130

ACA Times

FEBRUARY 2, 2022

Over 14.5 million Americans elected to receive health coverage through one of the ACA’s insurance marketplaces during the 2022 open enrollment period. The record-breaking participation is 21% higher than the signups for the 2021 open enrollment. Of the 14.5 million, 5.8 million were new signups , meaning they hadn’t previously received ACA coverage through the marketplace.

Planning Tools 147

Planning Tools Compliance Report Meeting 147

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.

Compliance 246

Compliance Policies Meeting Wellness 246

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.

Assessment Software 130

Assessment Software Compliance Report Meeting 130

ACA Times

NOVEMBER 4, 2021

The 2022 federal open enrollment period began earlier this week and will run through January 15, 2022. Consumers will have a wide variety of options to choose from, as well as reduced premiums. According to a news release from the Centers of Medicare and Medicaid Services (CMS) , there will be 213 participating insurers offering coverage for the 2022 plan year.

Planning Tools 130

Planning Tools Assessment Software Compliance Meeting 130

ACA Times

NOVEMBER 2, 2021

With the end of the year approaching quickly, ACA compliance and the subsequent ACA reporting are ramping up. Employers preparing for IRS and state filing requirements should consider the importance of the 1095-C form. What is the 1095-C form? Form 1095-C is a record of an ACA full-time employee’s health coverage for a particular year. The IRS says that the 1095-C form “is filed and furnished to any employee of an Applicable Large Employers (ALE) member who is a full-time employee for one or mor

Assessment Software 130

Assessment Software Compliance Immedis Report 130

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.

Report 130

Report Compliance Meeting Resources 130

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.

Compliance 246

Compliance Comparison Groups Meeting 246

ACA Times

AUGUST 10, 2021

Several health carriers are experiencing growth because of the recent Affordable Care Act advancements. Most notably is CVS Health Corp. and its affiliated health insurance business, Aetna. Last week the health carrier stated that it will be entering the ACA individual coverage marketplace in eight states, including Texas, Florida, Georgia, Missouri, Nevada, North Carolina, and Virginia.

Compliance 246

Compliance Data Productivity Report 246

ACA Times

JULY 14, 2021

We’ve heard from our partners and brokers that the IRS has begun issuing Letter 5699 to employers for the 2019 tax year. Officially called “Missing Information Return Form 1094/1095-C,” Letter 5699 is the precursor notice that is issued to employers before a penalty assessment. The IRS issues Letter 5699 to Applicable Large Employers (ALEs) identified as having failed to file applicable ACA Forms 1094-C and 1095-C for a specific tax year as required under the ACA’s Employer Mandate.

Compliance 162

Compliance Report Meeting Company 162

ACA Times

OCTOBER 2, 2017

The Affordable Care Act raised the ante on providing health insurance to Americans for U. S. businesses. It mandated that applicable large employers (those with 50 or more full-time employees and equivalent employees) must make offers of minimal essential coverage to 95% of their full-time employees. For some businesses that can be a challenge. As open enrollment season nears, the best course of action for employers to achieve a grade of 95% involves the two C’s: communication and compliance.

Compliance 100

Compliance Hiring Software Planning Tools Assessment Software 100

ACA Times

OCTOBER 3, 2017

The IRS continues to prepare for employers to file ACA-mandated information with the IRS for the 2017 tax year. The IRS is now making the new Form 1094-C and Form 1095-C available. You can view the 2017 forms at these links: 2017 Form 1094-C. 2017 Form 1095-C. The most notable difference is that the forms no longer allow for any information on transition relief.

Report 100

Report Compliance Data Company 100

ACA Times

OCTOBER 4, 2017

Despite a recent declaration that Congress will focus on tax reform , the need to address critical healthcare issues remains. A recent Kaiser Family Foundation (KFF) survey found that a large majority of the public sees reauthorizing funding for the Children’s Health Insurance Program (CHIP) and passing legislation to stabilize the Affordable Care Act (ACA) marketplace as important priorities that need to be addressed now.

Survey 100

Survey Compliance Report Company 100

ACA Times

OCTOBER 5, 2017

There were mixed results yesterday in Congress as Senate and House committees considered bills reauthorizing funding for the Children’s Health Insurance Program (CHIP). The program provided healthcare coverage to 8.9 million children in low-income families in fiscal year 2016. The U.S. Senate Finance Committee passed a bill reauthorizing CHIP funding for another five years.

Comparison 100

Comparison Compliance Policies Company 100

ACA Times

OCTOBER 9, 2017

It’s become a bit of a sport. Websites and media outlets are tracking ways that the Trump administration has been working to undermine the Affordable Care Act. Organizations such as the Center on Budget and Policy Priorities (CBPP), Health Care for American Now! , and Families USA, have websites tracking the actions taken by the administration that they believe threaten the health of the ACA, starting as far back as President Trump’s executive order issued on January 20, the day he took office.

Analysis 100

Analysis Policies Compliance System 100

ACA Times

OCTOBER 10, 2017

The IRS has followed the release of the 2017 forms for filing Affordable Care Act (ACA)-mandated information with the IRS for the 2017 tax year with the instructions for the forms. The updated instructions for the use of Form 1094-C and Form 1095-C in 2017 notes that Section 4980H transition relief for Applicable Large Employers (ALEs) is not available for 2017 as it was for the 2015 and 2016 tax reporting years.

Report 100

Report Compliance Data Company 100

ACA Times

OCTOBER 11, 2017

The latest news surrounding our nation’s healthcare has kept many on the edges of their seats, but for the moment, those who most benefit from the Affordable Care Act can breathe a sigh of relief. The recent efforts in Congress to repeal and replace the ACA have failed, at least for this year. The U.S. Senate’s Committee on Health, Education, Labor and Pensions has been looking to create bipartisan legislation to help stabilize ACA insurance markets for 2018.

Compliance 100

Compliance Survey Report Company 100