affordable care act

New ACA Affordability Rules Impact Cafeteria Plan Flex Credits

Just before Thanksgiving, the Internal Revenue Service and Treasury released a final rule on Minimum Essential Coverage and Other Rules Regarding the Shared Responsibility Payment for Individuals, otherwise known as the individual mandate. At first glance, this final rule appears to address issues only relevant to individuals.  However, within the final rule, the IRS and […]

supreme court

UPDATE: SCOTUS to Hear Challenge to Health Law’s Insurance Subsidies

On Friday, November 7, 2014, the United States Supreme Court decided to hear King v. Burwell, a case appealed from the United States Court of Appeals  for the Fourth Circuit challenging the ability of the government to provide tax subsidies for health insurance coverage purchased through federally-facilitated health insurance marketplaces. This development came as a surprise to […]

wind in sails

Agencies Take the Wind Out of the Sails of Minimum Value Plans

In recent weeks, there has been significant discussion about plans without coverage for in-patient hospital or physician services (often referred to as middle plans or MVP plans), and whether such plans actually meet the minimum value component of the employer mandate under Code 4980H(b).  On November 4, 2014, the IRS, Treasury and Department of Health […]

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Small Employer Reform News

Health FSA contribution limit increased by $50 for 2015

The IRS loves a good Halloween spook! On the eve of Halloween, the IRS announced a number of annual inflation adjustments, including tax rate schedules and other tax changes, in Revenue Procedure 2014-61. Included among them was the first increase to employee salary reduction contributions toward health flexible spending account coverage (health FSAs). The Affordable Care […]

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North Carolina News

supreme court

UPDATE: SCOTUS to Hear Challenge to Health Law’s Insurance Subsidies

On Friday, November 7, 2014, the United States Supreme Court decided to hear King v. Burwell, a case appealed from the United States Court of Appeals  for the Fourth Circuit challenging the ability of the government to provide tax subsidies for health insurance coverage purchased through federally-facilitated health insurance marketplaces. This development came as a surprise to […]

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Affordable Care Act News

delayed

Indefinite Delay in Enforcement of HPID Requirement

The Health Plan Identifier (HPID) is a standard, 10 digit unique health plan identifier required by the Health Insurance Portability & Accountability Act of 1996 (HIPAA). The HPID is to be used to identify health plans in HIPAA electronic standard transactions. HIPAA standard transactions include medical and dental claims and encounters, payment and remittance advice, […]

piggy bank with calculator

IRS Publishes Healthcare Reform PCORI Fee Increase for 2014-2015

The Internal Revenue Service recently published IRS Notice 2014-56, adjusting the amount of the Patient Centered Outcomes Research Institute (PCORI) fee for plans ending on or after October 1, 2014 and before October 1, 2015.  These plans will pay $2.08 per covered life, a slightly higher PCORI fee than the previous plan year.  As in […]

skinny pig

Race to the Middle? Middle and Skinny Plans under Healthcare Reform

UPDATE: On November 4, 2014, the IRS, Treasury, and HHS announced in IRS Notice 2014-69 that plans which do not provide coverage for in-patient hospitalization or physician services are NOT considered to provide minimum value coverage for purposes of the employer mandate penalties contained in Code 4980H(b). The Departments plan to propose regulations addressing this position […]

Draft-stamp

IRS Publishes Draft Instructions for Minimum Essential Coverage Reporting

Late last week, the IRS brought us one step closer to understanding how applicable large employers will be required to meet their obligations under the Code 6056 reporting requirements of the Affordable Care Act (ACA) (aka Minimum Essential Coverage reporting or MEC reporting). As described in an earlier post, the ACA requires all employers with […]

forms

IRS Publishes Form Drafts for New ACA Employer Reporting Requirement

On Thursday, July 24, 2014, the IRS published highly anticipated drafts of the forms large employers with 50 or more full-time equivalent employees will be required to use for the Code 6056 reporting requirement.  Code 6056 requires applicable large employers to file a transmittal with the IRS (Form 1094-C) and provide a new return to […]

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