ACA/Healthcare

/ACA/Healthcare
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21st Century Cures Act Clears the Way for Small Businesses to Offer Standalone HRAs

By |December 21st, 2016|

The 21st Century Cures Act, signed into law on December 13, 2016, includes good news for small businesses that have been prohibited in recent years from providing their employees with HRAs. Specifically, beginning January 1, 2017, qualified small employers can use HRAs to reimburse employees who purchase individual insurance coverage, rather than providing employees with costly group health plans. This article explains why small employers were unable to offer “standalone” HRAs to employees and details the new QSEHRAs.

Deadline Extended for ACA Information Reporting to Employees

By |December 7th, 2016|

The IRS has again extended the deadline for employers subject to the ACA information reporting requirements to meet their obligations to employees, but only by 30 days, from January 31, 2017, to March 2, 2017. And the deadline for filing the required information reporting forms with the IRS has not been extended. This article explains the ACA’s information reporting requirements and the deadline extension, as well as some penalty relief that’s available.

Using Tax-Advantaged Accounts to Fund your Health Care Expenses

By |June 14th, 2016|

Looking to save tax when paying for healthcare expenses? Tax-advantaged accounts, such as HSAs, FSAs and HRAs, can be smart ways to pay for your healthcare. Learn more about the differences between these accounts and which one is right for you.

Is Your Business an Applicable Large Employer for ACA Purposes?

By |May 25th, 2016|

How many full-time employees does your business have? If you have an average of 50 or more, that makes your business an applicable large employer for ACA purposes. Learn more about the implications of this designation and how to determine the number of full-time employees in this blog post.

IRS Issues Deadline Extensions for ACA Information Reporting

By |January 25th, 2016|

In an effort to help employers subject to the ACA’s information reporting requirements meet those obligations, the IRS has extended two important deadlines. Employers now have an additional two months to provide employees the necessary forms and three months to report the information to the IRS. This article explains the ACA’s information reporting requirements and details the penalties for noncompliance.

IRS Issues Deadline Extensions for ACA Information Reporting

By |January 7th, 2016|

In an effort to help employers subject to the ACA’s information reporting requirements meet those obligations, the IRS has extended two important deadlines. Employers now have an additional two months to provide employees the necessary forms and three months to report the information to the IRS. This article explains the ACA’s information reporting requirements and details the penalties for noncompliance.

Gearing Up For the ACA Requirements on Information Reporting

By |October 8th, 2015|

Under the new ACA requirements, applicable large employers (ALEs) will have to file Forms 1094-C and 1095-C to provide information to the IRS in 2016. Does your company qualify? What do you need to know about these requirements? Learn more in this blog post.

Large Employers: Time to Start Planning for ACA Information Reporting

By |July 6th, 2015|

With the U.S. Supreme Court’s June 25 decision upholding the Affordable Care Act (ACA) yet again, “large” employers as defined by the act must provide information to the IRS and plan participants about health coverage provided in the previous year. This article provides a brief overview of these expectations.

Supreme Court Upholds Premium Tax Credits for ACA Coverage

By |July 6th, 2015|

On June 25, the U.S. Supreme Court essentially again upheld the Affordable Care Act, this time by upholding premium tax credits for qualifying taxpayers whether they purchase coverage through a federal or a state exchange. This article provides a brief overview of the decision and its impact on employers.