Employer Mandate

Posted July 17th, 2015 in Producers, Employers
All eyes are back on the Employer Mandate as expectations of major changes or delays to this provision are quickly fading in light of the King vs. Burwell ruling.
Posted May 1st, 2015 in Producers, Employers, Individuals
There have been several attempts to dismantle the Affordable Care Act (ACA) and none have prevailed up to this point. The House of Representatives voted nearly 40 different times to repeal the law with no avail. The constitutionality of the Individual Mandate was challenged and ultimately upheld by the Supreme Court. Now we are awaiting a decision on whether the federal government can legally provide subsidies to Exchange applicants.  
 
Posted April 2nd, 2015 in Producers, Employers
The Illinois Department of Insurance (IDOI) issued a bulletin on March 20, 2015 as it relates to the renewal of certain health plans in 2016. In particular, the bulletin indicates that certain health plans may continue to be renewed for plan years on or before October 1, 2016 without being considered out of compliance with Affordable Care Act (ACA) regulations.  
 
The bulletin impacts the following plan types: 
 
Posted March 16th, 2015 in Producers, Employers

The IRS has released Notice 2015-17 with some new information about Employer Payment Plans, which are plans that are used to reimburse employees with pre-tax dollars for individual market coverage (e.g. HRA). Previous guidance had essentially eliminated Employer Payment Plans as an option for actively employed workers because they would not be able to comply with all of the Affordable Care Act (ACA) market reforms. Notice 2015-17 elaborates on the IRS’ position of Employer Payment Plans.

Posted March 6th, 2015 in Producers, Employers
The IRS released Notice 2015-16 which describes potential approaches that may be used in developing future regulatory guidance for the Excise Tax on High Cost Employer-Sponsored Health Coverage (a.k.a. Cadillac Tax). The Cadillac Tax would apply a tax of 40% to health coverage values that exceed certain thresholds starting in 2018.
Posted February 23rd, 2015 in Employers, Producers

The IRS has released the final version of the forms and instructions as it relates to the new employer reporting requirements associated with the Employer Mandate and other Affordable Care Act (ACA) provisions. The forms are identical to the draft versions that were released last summer, but there have been revisions made to some of the instructions. The forms and instructions can be accessed below:

Section 6055 reporting (used to report which individuals are covered by the employer sponsored plan)

Posted February 13th, 2015 in Producers, Employers

The Affordable Care Act (ACA) defines a small employer as one with up to 100 employees, but the law gave states the ability of using a definition of up to 50 employees until the end of 2015. As a result, most states, including Illinois, used a definition of up to 50 employees. However, that will change in 2016, and all states will be required to classify their small group market as up to 100 employees.

Why does this matter?

Posted June 20th, 2014 in Producers, Employers, Individuals

Minimum Essential Coverage and Minimum Value are two terms that are mistakenly considered the same by many people, but in fact, these terms have different definitions. 

Minimum Essential Coverage is the type of coverage needed to satisfy the Individual Mandate requirements. The most common forms include the following health plans:

Posted March 5th, 2014 in Producers, Employers
Flexible Benefit Service Corporation (Flex) has prepared a comparison chart to help you understand how the Affordable Care Act (ACA) Employer Mandate will be rolled out over the next two years. 
 
Click the "View Fullscreen" button on the bottom right of the frame to see the chart.
Posted February 11th, 2014 in Producers, Employers, Individuals

Yesterday, IRS officials made a significant announcement that impacts the Employer Shared Responsibility requirements, also known as the Employer Mandate. New guidance issued by the IRS confirms that a new phased approach will be utilized to implement it.

The new approach has 3 significant changes to the previously written rules:

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