Employer Mandate

Individual and Employer Mandate Penalty Estimator Tools

Posted July 7th, 2016 in Producers, Employers, Individuals
Individual and Employer Mandate Penalty Estimator Tools
It should be pretty clear by now that two of the biggest provisions of the Affordable Care Act (ACA) are the Individual and Employer Mandates. The Individual Mandate requires all Americans to have a health insurance plan or pay a penalty, unless an exemption applies. Factors that may influence the amount of the Individual Mandate penalty include household size and income. The Employer Mandate requires employers with 50 or more employees to offer health insurance coverage to at least 95% of its full-time employees or risk penalties.
Tags:
healthcare reform, ACA, Patient Protection and Affordable Care Act, individual mandate, Employer Mandate, IRS
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The ABCs of the New Healthcare-Related 1095 Tax Forms

Posted February 5th, 2016 in Producers, Employers, Individuals
The ABCs of the New Healthcare-Related 1095 Tax Forms
2016 will be the first year that most Americans will receive a Form 1095. As you would suspect, several people are wondering which forms will be provided and when. Here is some basic information to help answer those questions.  
 
Tags:
healthcare reform, Employer Mandate, individual mandate, Affordable Care Act, Penalty, tax season
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Predictions for 2016

Posted December 31st, 2015 in Producers, Employers
Predictions for 2016
The New Year is expected to bring more regulatory changes which will impact employers and group health plans alike. Here are five predictions of things that are likely to happen in 2016.
 
    Tags:
    healthcare reform, Cadillac Tax, Affordable Care Act, Employer Mandate, individual mandate
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    ACA Reporting Extensions for 2015

    Posted December 30th, 2015 in Producers, Employers
    ACA Reporting Extensions for 2015
    The Internal Revenue Service (IRS) recently issued Notice 2016-4 which extends the deadlines to complete the new Affordable Care Act (ACA) reporting requirements. The reporting is used to help the IRS enforce the Individual and Employer Mandates, and it’s also used to help the IRS administer subsidies in the Exchange. It applies to insurers and certain employers effective for the 2015 calendar year and moving forward. The new deadlines are as follows:
     
      Tags:
      healthcare reform, Affordable Care Act, ACA, IRS, Employer Mandate
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      ACA State Innovation Waivers Evaluation Process Explained

      Posted December 18th, 2015 in Producers, Employers, Individuals
      ACA State Innovation Waivers Evaluation Process Explained

      On December 11, 2015, the Department of Health and Human Services (HHS) posted guidance for states interested in seeking a State Innovation Waiver under Section 1332 of the Affordable Care Act (ACA).

      Tags:
      healthcare reform, HHS, Employer Mandate, Affordable Care Act, Penalty
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      2015 and 2016 Employer Mandate Penalty Estimates

      Posted November 25th, 2015 in Producers, Employers
      2015 and 2016 Employer Mandate Penalty Estimates

      You may have thought the penalty for applicable large employers who fail to offer minimum essential coverage was $2,000 per employee. You may have also thought that if you offered coverage, but it was unaffordable and/or didn’t provide minimum value, then the penalty was $3,000 per employee who waived coverage and received a subsidy in the Exchange.

      Tags:
      healthcare reform, Affordable Care Act, ACA, Employer Mandate, CMS
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      ACA Reporting Penalties

      Posted July 24th, 2015 in Producers, Employers
      ACA Reporting Penalties

      The cost for failing to comply with the new reporting requirements of the Affordable Care Act (ACA) just got steeper. Under a trade bill signed into law by President Obama at the end of June, the penalties for failing to comply with the new reporting requirements, which are used to help the IRS enforce the Individual and Employer Mandates, have substantially increased.

      Failing to complete the reporting:

      Tags:
      healthcare reform, Penalty, Employer Mandate, Affordable Care Act
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      Applicable Large Employers and Full-Time Employee Status Calculations

      Posted July 17th, 2015 in Producers, Employers
      Applicable Large Employers and Full-Time Employee Status Calculations
      All eyes are back on the Employer Mandate as expectations of major changes or delays to this provision are quickly fading in light of the King vs. Burwell ruling.
      Tags:
      healthcare reform, Affordable Care Act, ACA, Employer Mandate, Employee Benefits
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      ACA Section 1332 State Innovation Waivers

      Posted May 1st, 2015 in Producers, Employers, Individuals
      ACA Section 1332 State Innovation Waivers
      There have been several attempts to dismantle the Affordable Care Act (ACA) and none have prevailed up to this point. The House of Representatives voted nearly 40 different times to repeal the law with no avail. The constitutionality of the Individual Mandate was challenged and ultimately upheld by the Supreme Court. Now we are awaiting a decision on whether the federal government can legally provide subsidies to Exchange applicants.  
       
      Tags:
      healthcare reform, Affordable Care Act, ACA, individual mandate, Employer Mandate, Penalty
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      IDOI Bulletin for 2016 Health Plan Renewals

      Posted April 2nd, 2015 in Producers, Employers
      IDOI Bulletin for 2016 Health Plan Renewals
      The Illinois Department of Insurance (IDOI) issued a bulletin on March 20, 2015 as it relates to the renewal of certain health plans in 2016. In particular, the bulletin indicates that certain health plans may continue to be renewed for plan years on or before October 1, 2016 without being considered out of compliance with Affordable Care Act (ACA) regulations.  
       
      The bulletin impacts the following plan types: 
       
        Tags:
        healthcare reform, Illinois, DOI, grandfathered plans, 2016, group health, Employer Mandate
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