The IRS has released a memorandum clarifying that there is no applicable statute of limitations on pay or play penalty assessments under the ACA. This Legal Update video explains further.
This month's Benefits Buzz discusses a federal spending bill, which repealed the Cadillac tax and other key Affordable Care Act taxes, and extended the annual Patient-Centered Outcomes Research Institute (PCORI) fees for the 2020-2029 fiscal years.
On Jan. 21, 2020, the United States Supreme Court denied motions to expedite consideration of Texas v. Azar, the lawsuit challenging the constitutionality of the ACA's individual mandate. This decision follows a federal appeals court ruling that the individual mandate is unconstitutional due to the elimination of the individual mandate penalty in 2019. This ACA Compliance Bulletin provides an overview of the court's decision.
A federal spending bill enacted at the end of 2019 included several provisions affecting benefit plans. Among other things, the law extended the PCORI fees for an additional 10 years. As a result, these fees will continue to apply for the 2020-2029 fiscal years. This ACA Compliance Bulletin provides an overview of the PCORI fee extension.
Under Section 6055 or Section 6056, certain entities are required to file electronically with the IRS. Electronic filing is done using the ACA Information Returns (AIR) Program. This ACA Overview provides detailed information on the electronic reporting process under Section 6055 and Section 6056.
On Dec. 9, 2019, the IRS released final 2019 forms and instructions for ACA reporting under Code Sections 6055 and 6056. The 2019 draft forms and instructions are substantially similar to the 2018 final versions. This Legal Update video explains further.
Several ACA requirements will be affected by changes that take effect in 2020, such as increased dollar limits and affordability percentages. To prepare for 2020, employers should review upcoming requirements and develop a compliance strategy. This ACA Overview provides an ACA compliance checklist for 2020.
To prepare for compliance with the ACA's employer shared responsibility rules, employers using the look-back measurement method for determining full-time status for 2019 will need to begin tracking their employees' hours of service in 2018 to have corresponding stability periods for 2019. This ACA Overview provides a summary of when employers should begin tracking employee hours.
On Oct. 15, 2019, a federal court vacated parts of the ACA's Section 1557 nondiscrimination regulations. Specifically, court eliminates provisions related to gender identity and termination of pregnancy. This ACA Compliance Bulletin provides an overview of the court's ruling.
On Sept. 4, 2019, the IRS issued Notice 2019-50 to index the applicable health insurance providers fee amount for 2020 under the ACA. Although employers are generally not responsible for paying this fee, insurers may pass the cost onto policyholders through premium increases. This ACA Compliance Bulletin provides an overview of the health insurance providers fee.
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