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Tag: Affordable Care Act
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New Tax Breaks for Health Plans | Pennsylvania Benefit Advisors
Last week’s drama that shut down the federal government, then un-shut it three days later, was settled when agreement was reached on a Continuing Resolution. Included in the resolution are three tax breaks of particular interest to employers that offer group health coverage to their workers. Cadillac Tax: Delayed until 2022 The Affordable Care Act…
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IRS Extends Deadline for Employers to Furnish Forms 1095-C and 1095-B | PA Benefit Advisors
On December 22, 2017, the IRS released Notice 2018-06 to extend the due date for employers to furnish 2017 Form 1095-C or 1095-B under the Affordable Care Act’s employer reporting requirement. Employers will have an extra 30 days to prepare and distribute the 2017 form to individuals. The due dates for filing forms with the…
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Preston Rutledge to be Nominated as Next EBSA Head | PA Benefit Advisors
President Trump has announced his intent to nominate Preston Rutledge as Assistant Secretary of Labor, Employee Benefits Security Administration (EBSA). The position as head of the EBSA has been vacant since Phyllis Borzi stepped down in January 2017. The White House announcement includes highlights of Mr. Rutledge’s career which clearly demonstrate his knowledge and experience…
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President Directs Federal Agencies to Consider ACA Changes | PA Benefit Advisors
On October 12, 2017, President Trump issued an Executive Order directing the Departments of Labor (DOL), Health and Human Services (HHS), and Treasury to develop new rules to allow some exemptions from the Affordable Care Act (ACA). The Order indicates the Administration’s priorities although it has no immediate effect since any rule changes must first…
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IRS Releases Final 2017 ACA Reporting Forms and Instructions | PA Benefit Advisors
The IRS has finalized the forms and instructions that employers will use for 2017 reporting under the Affordable Care Act (ACA). Applicable large employers (ALEs) will use the following: 2017 Form 1094-C (transmittal to IRS). 2017 Form 1095-C (statement to individual). 2017 Instructions for Forms 1094-C and 1095-C (instructions). Employers that self-fund a minimum essential…
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Senate Releases Health Care Proposal | PA Benefit Advisors
This morning, Senate Republicans released their proposal to repeal and replace the Affordable Care Act (ACA). Called the Better Care Reconciliation Act of 2017 (BCRA), the Senate proposal adopts H.R. 1628, the bill narrowly passed last month by the House of Representatives, but replaces all the text. The Senate proposal was released without going through…
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Health Plan PCORI Fees Are Due July 31 | PA Benefit Advisors
Do you offer coverage to your employees through a self-insured group health plan? Do you sponsor a Health Reimbursement Arrangement (HRA)? If so, do you know whether your plan or HRA is subject to the annual Patient-Centered Research Outcomes Institute (PCORI) fee? This article answers frequently-asked questions about the PCORI fee, which plans are affected,…
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U.S. House Passes Health Care Bill. The Senate Now Holds the Cards. | PA Benefit Advisors
On May 4, 2017, the U.S. House of Representatives passed legislation to repeal and replace the Affordable Care Act (ACA). An earlier version of the House bill, called the American Health Care Act (AHCA), had been debated in March but was not voted on due to opposition from Democrats and insufficient support from Republicans. This…
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Long-Awaited Repeal and Replacement Plan for ACA Unveiled | PA Benefit Consultants
On March 6, 2017, the U.S. House of Representatives Ways and Means Committee released a proposed budget reconciliation bill, entitled the American Health Care Act, to replace portions of the Affordable Care Act (ACA). If enacted, the American Health Care Act would provide some relief from provisions of the ACA for employers and make other…
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The IRS Clarifies Tax Treatment of Fixed-Indemnity Health Plans | PA Benefit Advisors
While many Americans will remember January 20, 2017 as the day the 45th President of the United States was sworn into office, employee benefits experts will also remember it as the day the IRS Office of Chief Counsel (OCC) released this memorandum that clarifies, among other things, the tax treatment of benefits paid by fixed-indemnity…
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