Archive by tag: PenaltyReturn
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The IRS recently updated their website in the section “Types of Employer Payments and How They Are Calculated” that describes how to calculate employer shared responsibility payments for 2017.
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Categories: Health Care Reform, Compliance | Tags: ACA , IRS , Employer Shared Responsibility , Penalty
The DOL recently published a final rule (Final Rule) setting forth the inflation-adjusted civil monetary penalties for violations pertaining to health and welfare benefit plans and pension and retirement plans. The increased amounts apply to penalties assessed after January 13, 2017.
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Categories: Benefits in General, Compliance | Tags: DOL , 2017 , penalties , penalty , violation , inflation
According to a Press Release on January 9, 2017, the U.S. Department of Health and Human Services, Office for Civil Rights (OCR), has announced the first Health Insurance Portability and Accountability Act (HIPAA) enforcement settlement of 2017 based on the untimely reporting of a breach of unsecured protected health information (PHI).
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Categories: Compliance, Health Care in General | Tags: HIPAA , HHS , OCR , Breach , Penalty

Employers Starting to Receive MarketPlace Notices

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The federal Marketplace has recently started to send out Marketplace Notices to employers based upon information they gathered from individuals. The Marketplace is trying to determine who is or is not eligible for a Premium Tax Credit.
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Categories: Health Care Reform, Compliance | Tags: Pay or Play , Penalty , 1411 , Marketplace , Appeal , IRS , HHS

DOL Penalties Adjusted for Inflation

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The Department of Labor (DOL) published an interim final rule on June 30, 2016, to adjust the civil monetary penalties enforced by the DOL for inflation. The catch up adjustments apply to penalties assessed after August 1, 2016, for associated violations that occurred after November 2, 2015.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: DOL , 5500 , SBC , Penalty

What Should an ALE do with a Marketplace Notice?

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Applicable Large Employers (ALEs) should familiarize themselves with the steps to take if they receive a Section 1411 notice from the Health Insurance Marketplace (aka Exchange) that an employee has received a premium tax credit (subsidy) for the health insurance they purchased through the Marketplace.
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Categories: Health Care Reform, Compliance | Tags: Play or Pay , Penalty , 1411 , CMS , IRS

Penalties Steep for Late or Incorrect 1095-C

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The deadline for applicable large employers (ALEs) to furnish a Form 1095-C to each of their full time employees is March 31, 2016. Although the IRS has granted relief from penalties for late or incorrect Forms this year, Forms that are furnished late or are incorrect for 2016 coverage are subject to a $250 penalty per late or incorrect Form to a maximum of 3 million dollars when provided in 2017.
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Categories: Health Care Reform, Compliance | Tags: IRS , 1095-C , Penalty , ALE

Transitional Relief Ending for ALEs

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Applicable large employers (ALEs) and the brokers that work with them need to be aware that transitional relief that was granted for the due date for reporting full time employees and imposition of penalties, under Play or Pay, will end soon.
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Categories: Health Care Reform, Compliance | Tags: ALE , IRS , Penalty

End of Year ACA Guidance

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In mid-December, the IRS provided guidance in Notice 2015-87 applicable to a number of Affordable Care Act (ACA) provisions with references to prior guidance or clarification of prior guidance.
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Categories: Health Care Reform, Compliance | Tags: IRS , ACA , HRA , Reporting , COBRA , Health FSA , Affordable , Penalty

2015 and ’16 Play or Pay Penalties Adjusted

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The IRS has applied an inflationary adjustment to the penalties associated with Play or Pay for coverage offered in 2015 and again for coverage offered in 2016.
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Categories: Health Care Reform, Compliance | Tags: Penalty , Play or Pay , ALE , Full Time
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