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Tag: PPACA Affordable Care Act
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Cafeteria Plans: How to Handle Participant Contributions | Pennsylvania Benefits Broker
By Danielle Capilla Chief Compliance Officer at United Benefit Advisors Cafeteria plans, or plans governed by IRS Code Section 125, allow employees to pay for expenses such as health insurance with pre-tax dollars. Employees are given a choice between a taxable benefit (cash) and specified pre-tax qualified benefits, for example, health insurance. Employees are given…
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Perfect Attendance! How to Handle Leaves of Absence under the ACA | Pennsylvania Employee Benefits
By Danielle Capilla Chief Compliance Officer at United Benefit Advisors The Patient Protection and Affordable Care Act (ACA) requires applicable large employers (ALEs) to offer full-time employees health coverage, or pay one of two employer shared responsibility penalties. An ALE is an employer with 50 or more full-time or full-time equivalent employees (for 2015, this…
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IRS Notice on Minimum Essential Coverage Reporting | PA Employee Benefits
By Danielle Capilla Chief Compliance Officer at United Benefit Advisors Minimum essential coverage or “MEC” is the type of coverage that an individual must have under the Patient Protection and Affordable Care Act (ACA). Employers that are subject to the ACA’s shared responsibility provisions (often called play or pay) must offer MEC coverage that is…
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IRS Proposes Minimum Value Rule Change to Mesh IRS and HHS Rules | Duncansville Employee Benefits
Posted by Danielle Capilla Beginning in 2015, under the Patient Protection and Affordable Care Act (ACA), large employers must offer affordable, minimum value coverage to their full-time employees or potentially pay a penalty. Some companies have or had been marketing a plan that they state satisfies the minimum value requirement (an actuarial value of 60…
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IRS Releases Draft 2015 Instructions for 6055/6056 Reporting | PA Benefits Broker
By Danielle Capilla Chief Compliance Officer at United Benefit Advisors Under the Patient Protection and Affordable Care Act (ACA), individuals are required to have health insurance while applicable large employers (ALEs) are required to offer health benefits to their full-time employees. In order for the Internal Revenue Service (IRS) to verify that (1) individuals have…
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