ACA Times

MARCH 7, 2023

Organizations that rely on paper filing for completing their reporting obligations under the ACA’s Employer Mandate may need to revisit their process going forward, thanks to new IRS regulations. The… The post IRS Reduces ACA Paper Filing Threshold for Employers first appeared on The ACA Times.

Report 130

Report 130

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.

Compliance 130

Compliance 130

ACA Times

NOVEMBER 1, 2022

Open enrollment for the 2023 plan year kicks off today, November 1, and will run through January 15 of next year. As employers begin to prepare healthcare options for their…. The post ACA Open Enrollment for 2023 Plan Year Begins Today 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.

Compliance 237

Compliance 237

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.

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ACA Times

JULY 26, 2022

Enhanced Premium Tax Credit (PTC) subsidies introduced via the American Rescue Plan (ARP) are set to expire this December, and the consequences could be serious. Before diving into what could…. The post Millions to Lose Coverage if American Rescue Plan PTCs Expire 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.

Compliance 130

Compliance 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.

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ACA Times

APRIL 13, 2022

The IRS has made significant progress in the historic backlog it’s still facing, but it still has a long way to go. Chief IRS Commissioner Charles Rettig anticipates clearing the backlog by the end of this year. A big contributor to the now under-control situation was the hiring of several thousand new tax professionals. Regarding the 2022 tax season, Rettig said , “Through April 1, we have processed more than 89 million returns and issued more than 63 million refunds totaling more than $204 bil

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ACA Times

JANUARY 26, 2022

With the New Year well underway, organizations with operations in California should give special attention to the state’s Individual Mandate and the additional ACA reporting requirements. Employers that offer self-funded healthcare plans and health insurance carriers must furnish healthcare information to their employees and their dependents by this coming Monday, January 31, 2022.

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Compliance Assessment Software Planning Tools Report 130

ACA Times

JANUARY 11, 2022

Open enrollment for the 2022 plan year ends later this week but ACA signups are already hitting record new highs. Kaiser Health News cites a record-breaking 13.6 million Americans already signed up for 2022 coverage through an ACA marketplace exchange. The closest number of total signups was 12.7 million in 2016, during Obama’s final year in office. .

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Planning Tools Compliance Data Report 246

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

DECEMBER 13, 2021

Open enrollment period for the 2022 coverage year is well underway, and ACA premiums are continuing to drop. The federal period for obtaining health coverage kicked off on November 1 and the cost of premiums for silver-quality health plans dropped, on average, more than 3%. This marks the fourth consecutive year for reduced premiums, according to a recent analysis by the Kaiser Family Foundation (KFF).

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Compliance Planning Tools Analysis Assessment Software 130

ACA Times

DECEMBER 9, 2021

Employers preparing for a smooth 2021 filing season should keep in mind the important ACA deadlines to avoid IRS penalties. Every year, Applicable Large Employers (ALES) must file and furnish their ACA information to the IRS as required by the ACA’s Employer Mandate. Under the ACA’s Employer Mandate , ALEs, or employers with 50 or more full-time employees and full-time equivalent employees must: Offer Minimum Essential Coverage (MEC) to at least 95% of their full-time employees (and their depend

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ACA Times

OCTOBER 12, 2021

It’s no surprise that the IRS is increasing its enforcement efforts of the ACA’s Employer Mandate, but the amended Letter 226J language indicates that the agency is taking it to the next level by asking employers to prove their offers of coverage are affordable. The official penalty letter language now requires employers to substantiate that the coverage offered to a Premium Tax Credit (PTC) recipient is affordable.

Assessment Software 130

Assessment Software Compliance Meeting Report 130

ACA Times

OCTOBER 7, 2021

It’s officially the final quarter of the 2021 tax year and that means tax season is right around the corner. What precautions is your organization taking to ensure a smooth ACA reporting experience this year? As an ACA Times subscriber, we’ve curated a list of the top three ACA resources to help ensure a smooth 2021 ACA reporting experience, to be filed and furnished in 2022. .

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ACA Times

SEPTEMBER 14, 2021

A bill known as the Common Sense Reporting Act could fundamentally change the way employers report their ACA information to the IRS annually if it is signed into law. . First proposed in 2019, the Act currently has bipartisan support and includes significant changes to how organizations submit their annual ACA Employer Mandate reporting information to the IRS.

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ACA Times

JULY 28, 2021

Earlier this year the IRS released final regulations regarding the relationship between Employer Shared Responsibility Provisions (ESRP) and individual coverage Health Reimbursement Arrangements (HRAs). And then they were withdrawn by the Biden administration for review. In this piece, we will dive into what the regulations clarify and how employers should proceed.

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Compliance Planning Tools Report Discrimination 130

ACA Times

JULY 19, 2021

The IRS recently released its draft 1094-C and 1095-C instructions for the 2021 tax year. We’ve identified the changes below. . It appears that Form 1094-C will remain the same, but the instructions do include two new codes for use on Line 14 of the Form 1095-C: 1T and 1U. . According to the draft instructions , the 1T code is for use when the applicable individual and their spouse receive a Health Reimbursement Arrangement (HRA) offer of coverage from the employer, where the affordability was d

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Report Compliance Meeting Compliance Training 130

ACA Times

NOVEMBER 22, 2014

The IRS announced yesterday (Nov. 21, 2014) that it has made it easier for those subject to the Act to qualify for an exemption from the rule requiring that an individual either obtain insurance coverage or pay a tax penalty. That rule, Internal Revenue Code Section 5000A, implements the “Individual Mandate” the Affordable Care Act, which requires every American to have minimum essential insurance for himself/herself and for any family member he or she claims as a dependent.

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Certification Compliance Company 100

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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Compliance Report Company Wellness 100

ACA Times

DECEMBER 29, 2014

Federal regulators have issued regulations that propose changes to the Summary of Benefits and Coverage (SBC) that would be effective for plans beginning on or after September 1, 2015. The proposed changes issued by the Departments of Health and Human Services, Labor and the Treasury, are intended to add features making the SBC more user-friendly and help people shopping for health insurance coverage better understand their options , according to a fact sheet and press release distributed by the

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Comparison Compliance Policies Company 100

ACA Times

JANUARY 6, 2015

Compliance with Act requirements is an issue for all companies, but it can literally be a deal-breaker when one company is thinking about acquiring another one. Robert L. Jensen , the law firm Drinker Biddle , explains how the can impact M&A transactions in an article here. We’re committed to helping companies reduce risk, avoid penalties, and achieve 100% ACA compliance.

Compliance 100

Compliance Company 100

ACA Times

JANUARY 20, 2015

Sen. Orrin G. Hatch (R-Utah) reintroduced to eliminate the companies enacted through Section 10 the Act. “This is yet another hidden healthcare arbitrarily created to pay for ,” Hatch said. “Raising taxes means higher costs for patients. Even worse, this also negatively impacts the ability for businesses to hire and grow.”. Section 10 imposes an or fee a carrier’s revenues over $25 million years.

Compliance 100

Compliance Hiring Company 100

ACA Times

JANUARY 22, 2015

The HealthCare.gov health insurance website shares some personal data about consumers with companies that sell advertising and data analytics services, the Associated Press reported. Administration officials said the companies are allowed to access the information in order to improve the website’s performance and its ability to display content appropriate to the visitor’s needs.

Analytics 100

Analytics Compliance Data Study 100

ACA Times

JANUARY 29, 2015

Americans are not paying much attention to the King v. Burwell case now before the Supreme Court, which will decide if residents 37 states qualify for Act subsidies to buy, but a majority favor Congress acting to preserve those subsidies if the court rules them illegal. More than half the public (56%) says they have heard “nothing at all” about the case, and another three in 10 say they have heard “only a little.

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Comparison Compliance Company ATS 100

ACA Times

FEBRUARY 2, 2015

About 4.5 million more young adults are covered by health insurance now than in 2009 because the Affordable Care Act, according to a White House report. In 2009 nearly a third of those aged 19 to 25 had no health insurance, twice the rate for Americans overall. As of mid-2014, the latest for which statistics are available, the uninsured rate had fallen by more than 40%, or about 4.5 million.

Compliance 100

Compliance Report Company 100

ACA Times

FEBRUARY 2, 2015

To help cover Affordable Care Act costs, the 2016 budget proposal submitted by the Department of Health and Human Services for the fiscal year 2016 would reduce Medicare spending by about $400 billion through lower payments to providers, health insurers, and drug companies. The overall 2016 federal budget submitted by President Obama includes some cost increases for Medicare recipients.

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ACA Times

FEBRUARY 9, 2015

Almost 6.5 million individuals in the 37 states using the HealthCare.gov platform will qualify for an average of $268 per person per month in advanced premium tax credits, according to a U.S. Department and Health Human Services report. Among consumers who have signed up for 2015 coverage so far in the 37 HealthCare.gov states, 8 in 10 were able to find a plan with a premium of $100 or less after tax credits.

Planning Tools 100

Planning Tools Compliance Analysis Report 100

ACA Times

FEBRUARY 23, 2015

About 800,000 taxpayers who obtained Affordable Care Act health insurance policies through the Healthcare.gov marketplace were sent incorrect tax information by the government, and have been urged to delay filing their returns until they receive corrected forms. That is expected to be in early March. The error affects some consumers in the 37 states using Healthcare.gov who received tax credits to help cover the cost of their insurance premiums.

Benchmarking 100

Benchmarking Compliance Policies Report 100

ACA Times

MARCH 11, 2015

Many families – especially those with low to moderate incomes – don’t have sufficient savings to cover a mid- or larger deductible in a private plan, according to an analysis by the Kaiser Family Foundation. The study found that less than two-thirds (63%) non-elderly households with incomes above the federal poverty level have sufficient liquid financial assets to cover a mid-range annual deductible $1,200 for an or $2,400 for a family.

Study 100

Study Compliance Analysis Survey 100

ACA Times

MARCH 17, 2015

President Obama announced the creation of a new advisory panel charged with improving the ability of the Veterans Affairs Department to meet the healthcare needs patients and beneficiaries. The 14 appointees include business leaders, health experts and veterans advocates with experience in “customer service, -large-scale organizational change and advocacy for veterans,” a White House official said.

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ACA Times

MARCH 18, 2015

The Affordable Care Act has resulted in a 16.4 million increase in the number of Americans having insurance coverage, according to the White House. The administration released the figure in advance of the fifth anniversary of the signing of the Patient Protection and Affordable Care Act March 23, 2010. The large majority of those gaining coverage– 14.1 million adults – enrolled after the end of 2013.

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Compliance Groups Company 100

ACA Times

MARCH 25, 2015

About one out five U.S. employers are reducing for part-time workers as a result of the Affordable Care Act (ACA), a new survey by Society for Human Resource Management (SHRM) found. The survey found that about 14% percent of employers have reduced for part-timers as a result of the ACA mandate that employees working 30 hours a be offered health care coverage, and another 6% plan to do so. 72% have not considered reducing hours for part-time workers.

Survey 100

Survey HR Planning Compensation Compliance 100

ACA Times

MARCH 26, 2015

A new report shows that a year after the Affordable Care Act’s coverage expansion provisions took effect, physicians have not experienced a sharp increase in visits by new or sick patients. The report was prepared by Athenahealth, Inc., which provides office management software systems to medical practices, and was funded by the Robert Wood Johnson Foundation.

Study 100

Study Compliance Report Software 100

ACA Times

MARCH 31, 2015

Final regulations on employer-provided wraparound coverage under the Affordable Care Act were issued by the IRS and Departments of Health and Human Services and Labor. Wraparound coverage is employer-sponsored coverage that may be offered to employees for whom the employer’s primary coverage is unaffordable and who obtain individual coverage through the federal or state marketplaces.

Compliance 100

Compliance Policies Company 100