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Cost-Savings Strategies Amid COVID-19 – Keep Benefit Plans Top of Mind
Posted by Chrissy Hammond on Wed, Apr 29, 2020 @ 08:00 AM

While some businesses, depending on location and industry, are turning their focus to reopening, it is still (and always will be) important to consider benefit plan cost-savings strategies. These can be particularly important now as COVID-19’s continue to evolve rapidly.

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Topics: ACA, COVID19, Coronavirus, CARES Act, Coronavirus Aid, Relief, and Economic Security Act

Congress Delays Medical Device and Other ACA Taxes
Posted by Chrissy Hammond on Wed, Jan 24, 2018 @ 08:16 AM

Congress has delayed three Affordable Care Act (ACA) taxes: the medical device excise tax, the health insurance provider fee, and the excise tax on high-dollar health plans. The delays are part of a federal government funding bill signed by President Trump on January 22.

Take away.

Unless Congress delayed the medical device excise tax, the first payments would have been due January 29. "Addressing the device tax now, before any payments are made on January 29, provides medical technology innovators with the certainty necessary to support future job growth and research and development," the Medical Device Coalition told Congress on January 19.

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Topics: ACA, Congress, Medical Device Excise Tax, Tax Reform, tax reform bill

Affordable Care Act Update: Guidance on Completing 2015 Informational Forms 1094-C, 1095-C, 1094-B and 1095-B
Posted by Ron Morrison on Thu, Mar 10, 2016 @ 02:48 PM

Affordable Care ActThe Affordable Care Act (ACA) brought a slew of requirements to employers, both those who provide health insurance for their employees and those who don’t. Complying with the requirements and reporting on how compliance is met makes following the ACA particularly cumbersome.

Most of the ACA’s requirements affect employers with an average of at least 50 full-time employees (or full-time employee equivalents) during the calendar year.  Referred to as Applicable Large Employers (ALEs), these employers are in effect subject to an additional tax referred to as the Employee Shared Responsibility Payment if they do not offer adequate and affordable coverage to their employees and at least one employee enrolls in the ACA’s Health Insurance Marketplace. Controlled entities are considered in the aggregate when determining ACA eligibility.

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Topics: Affordable Care Act, ACA, Ron Morrison, ACA Guidance

Affordable Care Act Update: IRS Releases Draft Section 6055 and 6056 Reporting Forms
Posted by Karen McLeese on Tue, Sep 16, 2014 @ 09:06 AM

The Affordable Care Act (ACA) imposes new reporting requirements on health insurers, as well as on certain employers. These reporting requirements are imposed by IRC Sections 6055 and 6056 (see CBIZ Health Reform Bulletin, IRS Final Rules – IRC Sections 6055 and 6056, 3/14/14). These reporting requirements are for the purpose of helping the government discern who might be entitled to premium assistance, as well as discern what employers might be subject to the employer shared responsibility excise tax. This bulletin will focus primarily on the employer’s reporting obligation.

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Topics: IRS, Affordable Care Act, ACA, Karen McLeese

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