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Avoid 10 Common ADA Mistakes
The ADA Amendments Act of 2008 broadened the definition of disability previously established by the ADA and effectively expanded the group of people who would qualify as disabled. The amendments put more pressure on employers to provide reasonable accommodations and...
IRS Lowers Affordability Threshold Again for Plan Years Beginning in 2024
Drafted by Elizabeth Raggio, JD The IRS has lowered the affordability percentage again - from 9.12% to 8.39% for plan years beginning in 2024. Meaning, Applicable Large Employers (ALEs) will continue to shoulder a greater burden of the employee premium for self-only...
ACA DETERMINATION OF ALE (and Non-ALE) STATUS
ALE CALCULATION TOOL USING LAST CALENDAR YEAR EMPLOYEES AND HOURS FOR WHICH PAY IS RECEIVED Next steps: Add ALL 12 months Total FT and FTE count and divide by 12 to determine average monthly FT and FTE Count for entire year. Round the final number down to a whole...
ALEs Must Consider Decreased Affordability Percentage for 2023 Plan Years
The 2023 affordability percentage that Applicable Large Employers (ALEs) use when determining whether their offer of coverage is affordable such that they are not subject to 4980H(b) penalty exposure is 9.12 percent of household income, down from 9.61 percent in 2022....
GAG CLAUSE PROHIBITION COMPLIANCE ATTESTATION (GCPCA)
RE: Provider/Network/Health System Carrier, TPA, PBM, and Direct Contracting Gag Clause Prohibition Effective December 27, 2020 under CAA Title II Section 201 (Transparency) Submitted Attestation Due Date: December 31, 2023 and Dec 31st annually...
Small & Midsize Employers – ACA IRS E-File
IF YOU HAVE HISTORICALLY FILED YOUR 1095/1094 FORMS BY MAIL . . . Effective 2024 for the 2023 tax reporting year, employers with more than 10 (ten) aggregate federal returns (W2, 1099, 1095) must file their 1095/1094 forms electronically (formerly 250 forms). **Note:...
Employee Share Responsibility – 4980H Requirements
An Applicable Large Employer (ALE) that does not offer coverage meeting certain requirements under Code Section 4980H may have exposure to an employer shared responsibility payment (ESRP). The ESRP amounts are indexed each tax year as shown in the table below and...
Civil Penalties – ALEs Fail to File/Furnish Forms 1094/1095C
Failure to file or furnish Forms 1094-C and 1095-C as required can result in civil penalties under Code Sections 6721 and 6722, which are indexed each tax year as shown in the table below. These penalties apply separately per form that is not filed or furnished as...
Top Five Compliance Myths You Need to Know
MYTH #1 If you move to a Fully Insured Health Plan, the Carrier will complete your ACA Filing Obligations. FACT All ALE's (ALE = 50 or greater full time equivalents in preceding tax year) must still file 1095-C forms for Part I and II. The fully...
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