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Through Notice 2015-87, the IRS has adjusted the safe harbor percentage that applicable large employers (ALEs) can use to calculate the affordability of the health plan offered to a full time employee. ALEs can use 9.56% for coverage offered in 2015 and 9.66% for coverage offered in 2016.
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Categories: Health Care Reform, Compliance | Tags: ALE , 1095-C , Safe Harbor , Penalty

Extension Provided for ACA Reporting Forms

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Through IRS Notice 2016-4, the due dates for providing the 2015 information reports to individuals and the IRS under Code Sections 6055 and 6056, under the Affordable Care Act (ACA), have been extended.
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Categories: Health Care Reform, Compliance | Tags: 6055 , 6056 , 1095-B , 1095-C , IRS , Reporting

Last Minute ACA Guidance from IRS

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Through a 26 item Q&A document, IRS Notice 2015-87 provides last minute Affordable Care Act (ACA) guidance on topics including integrated HRAs, employer payment plans used to pay for or reimburse employees for the purchase of individual health insurance premiums, calculation of and reporting of affordable health coverage when the employer provides a health reimbursement arrangement (HRA), flex credits and/or a buy-out option (cash-in-lieu of benefits), the eligibility rules pertaining to health...
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Categories: Health Care Reform, Compliance | Tags: IRS , Affordable , Payment Plan , Individual , Cash , Flex Credit
The House of Representatives has filed two pieces of legislation that have bipartisan support in the House and Senate to make the monthly pre-tax dollar amount for Transit Benefits in a Code Section 132 Transportation Plan equal to the monthly pre-tax amount for Parking Benefits. Through the legislation, the parity in the dollar amount for the two benefits would be made permanent. It is expected that the legislation will be enacted before Congress adjourns on December 22, 2015.
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Categories: Benefits in General, Compliance | Tags: Parking , Transit , IRS

Cadillac Tax Postponed to 2020

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The House of Representatives has filed two pieces of legislation that have bipartisan support in the House and Senate to postpone the implementation of the Cadillac Tax on the excess total cost of health coverage until 2020. It is expected that the legislation will be enacted before Congress adjourns on December 22, 2015.
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Categories: Health Care Reform, Compliance | Tags: Cadillac , Tax , Excise , Total
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