Archive for ACA Advisor’ Category

Employee Benefit Plans and the House Republican Tax Reform Bill | Houston Benefit Advisors
Dec

1

2017

Employee Benefit Plans and the House Republican Tax Reform Bill | Houston Benefit Advisors

On November 2, 2017, House Republicans introduced a tax reform bill (H.R.1-115th Congress) called the “Tax Cuts and Jobs Act” that, if passed, would impact multiple aspects of the tax code. Many of these changes relate to employee benefit plans, particularly in relation to certain fringe benefits. Dependent Care Accounts A dependent care flexible spending account (DCFSA) is a pre-tax benefit account used to pay…

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Latest IRS ACA Round Up (Including 2018 Cost-of-Living Adjustments) | Houston Benefit Advisors
Nov

20

2017

Latest IRS ACA Round Up (Including 2018 Cost-of-Living Adjustments) | Houston Benefit Advisors

Recently, the Internal Revenue Service (IRS) issued the instructions for Forms 1094/1095 for the 2017 tax year, announced PCORI fees for 2017-18, and announced cost-of-living adjustments for 2018. The IRS provided additional guidance on leave-based donation programs’ tax treatment and released an information letter on COBRA and Medicare. Here’s a recap of these actions for your reference. IRS Announces Cost-of-Living Adjustments for 2018 The IRS…

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IRS Releases Final Forms and Instructions for 2017 ACA Reporting | Houston Benefit Advisors
Oct

31

2017

IRS Releases Final Forms and Instructions for 2017 ACA Reporting | Houston Benefit Advisors

Instructions for both the 1094-B and 1095-B and the 1094-C and 1095-C were released, as were the forms for 1094-B, 1095-B, 1094-C, and 1095-C. Reporting will be due early in 2018, based on coverage in 2017. For calendar year 2017, Forms 1094-C, 1095-C, 1094-B, and 1095-B must be filed by February 28, 2018, or April 2, 2018, if filing electronically. Statements to employees must be…

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President Trump Ends ACA Cost Sharing Reductions | Houston Benefit Advisors
Oct

20

2017

President Trump Ends ACA Cost Sharing Reductions | Houston Benefit Advisors

On the evening of October 12, 2017, President Trump announced that cost sharing reductions for low income Americans in relation to the Patient Protection and Affordable Care Act (ACA) would be stopped. The Department of Health and Human Services (HHS) has confirmed that payments will be stopped immediately. While there is no direct impact to employers at this time, UBA will continue to educate employers…

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PCORI Fee Increase for Health Plans | Houston Benefit Advisors
Oct

9

2017

PCORI Fee Increase for Health Plans | Houston Benefit Advisors

On October 6, 2017, the Internal Revenue Service (IRS) released Notice 2017-61 to announce that the health plan Patient-Centered Outcomes Research Institute (PCORI) fee for plan years ending between October 1, 2017 and September 30, 2018 will be $2.39 per plan participant. This is an increase from the prior year’s fee of $2.26 due to an inflation adjustment. Background The Affordable Care Act created the…

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IRS Roundup: What Employers Need to Know about the Latest ACA Notices | Houston Benefit Advisors
Oct

2

2017

IRS Roundup: What Employers Need to Know about the Latest ACA Notices | Houston Benefit Advisors

In spite of the recent efforts by Congress to change or repeal the ACA, its provisions are still in effect. The IRS has issued continuing guidance on the affordability rate for coverage, the employer shared responsibility provisions and reporting, and the individual mandate provision. IRS Released the 2018 Affordability Rate The Internal Revenue Service released its Revenue Procedure 2017-36, which sets the affordability percentage at…

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Feb

24

2017

Medicare Part D: Creditable Coverage Disclosures

Entities such as employers with group health plans that provide prescription drug coverage to individuals that are eligible for Medicare Part D have two major disclosure requirements that they must meet at least annually. Source: ACA Advisor

Feb

16

2017

CMS’ Proposed Rule on ACA Market Stabilization

On February 17, 2017, the Department of Health and Human Services’ Centers for Medicare & Medicaid Services (CMS) issued a proposed rule to stabilize the health insurance market and address risks to the individual and small group markets. Source: ACA Advisor

Feb

16

2017

CMS’ Proposed Rule on ACA Market Stabilization

On February 17, 2017, the Department of Health and Human Services’ Centers for Medicare & Medicaid Services (CMS) issued a proposed rule to stabilize the health insurance market and address risks to the individual and small group markets. Source: ACA Advisor

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