The Internal Revenue Service (IRS) has started issuing the first wave of Letters 226-J informing applicable large employers who did not comply with the ACA employer mandate for 2015 Plan Year that they may be liable for an Employer Shared Responsibility Payment (ESRP). Though receiving the letter is unnerving, there are certain steps you should ... Read More
Category Archives: ACA
The Tax Cuts and Jobs Act (the “Act”) recently enacted by Congress will soon become effective. The primary focus of the new law is the reduction of corporate and individual income taxes. Nevertheless, a number of provisions of the Act affect employee benefit programs, which are summarized below. Except as otherwise noted, these employee be ... Read More
The IRS has announced new guidance regarding the Employer Shared Responsibility Payments (the "ESRPs"), which are the ACA penalties assessable to “Applicable Large Employers” for failing to provide affordable health care coverage to eligible full-time employees.
Although the IRS began collecting information from employers (via the Form 1 ... Read More
On July 25, 2017, the Department of Labor (DOL) released All Agency Memorandum #25 (AAM), which serves as the DOL's annual announcement of the adjustment of the Health & Welfare (H&W) fringe benefit rate for employees working under contracts governed by the Service Contract Act (SCA).
The routine aspect of the AAM provides that effective as o ... Read More
It’s that time of year again.
The Affordable Care Act imposes an annual fee called the Comparative Effectiveness Research Fee (CERF) on insurers and plan sponsors of self-insured coverage to help fund the Patient-Centered Outcomes Research Institute. The fee is based on the average covered lives for the applicable plan year.
IRS Notice 2016 ... Read More