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Health Insurance Tax Credits

Manatt, Phelps & Phillips, LLP

States Challenge CMS Rule Making DACA Recipients Eligible for Marketplace Subsidies

On August 8, a coalition of 15 state attorneys general sued CMS in the North Dakota federal court seeking to overturn a May 2024 CMS final rule making Deferred Action for Childhood Arrivals (DACA) recipients eligible for...more

Laner Muchin, Ltd.

Employers Must Remain Vigilant in Addressing IRS Letters 226J for Employer Shared Responsibility Payments

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As we’ve previously discussed, the IRS started issuing Letters 226J in late 2017. It continues to send these letters to employers each year proposing that the employer owes an Employer Shared Responsibility Payment (ESRP) for...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Legislative Day 40 - March 2024

Legislative Day 40 is a roller coaster, full of ups, downs, and zero gravity turns (also known as conference committee reports). One goes from celebrating a bill achieving final passage to lamenting a measure being gutted...more

Woodruff Sawyer

Compliance Alert: IRS Issues Affordability Percentage Adjustment for 2024

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The Internal Revenue Service (IRS) has released Rev. Proc. 2023-29, which contains the inflation adjusted amounts for 2024 used to determine whether employer-sponsored coverage is “affordable” for purposes of the Affordable...more

Woods Rogers

Does the Fun Ever Stop? COVID-19 Tolling Ends for COBRA Deadlines

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On April 10, 2023, President Biden signed legislation to end the COVID-19 national emergency effective immediately, including ending the requirement to extend COBRA deadlines due to the COVID-19 pandemic. Plan administrators...more

Freeman Law

Tax Court in Brief | Henry v. Comm’r | Affordable Care Act and Deficiency for Amounts of Advance Premium Tax Credits

Freeman Law on

Summary: From early 2015 and through 2016 Marie Henry (“Henry”) was unemployed and in a terrible financial, physical, and mental state. To get by, she made early withdrawals from a retirement plan. She was enrolled in health...more

McDermott Will & Emery

IRS Issues Final Regulations Extending ACA Information Reporting Deadlines, Clarifies Additional ACA Issues

McDermott Will & Emery on

On December 15, 2022, the Internal Revenue Service (IRS) finalized regulations regarding Information Reporting of Health Insurance Coverage and Other Issues Under Internal Revenue Code (Code) Sections 5000A, 6055 and 6056...more

Trusaic

Most Frequently Asked Questions Heading into the 2023 ACA Reporting Season

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We recently held a webinar regarding changes pertinent to the 2023 ACA reporting season. After receiving numerous questions from attendees during the event, we thought it best to compile them and share them for your reference...more

Trusaic

ACA Penalty Letter 226J on The Rise

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The last several years have been difficult for the IRS, but now that the agency is almost through its historic backlog, it is making significant progress on a long list of to-do items, including issuing ACA penalties....more

Trusaic

Understanding ACA Affordability for 2023 Tax Year

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Since ACA reporting was first required by employers in 2015, the affordability component under the Employer Mandate was established each year by indexing the standard of 9.5%. This has always been the case, that is, until...more

McAfee & Taft

The employer’s role in fixing ‘family glitch’

McAfee & Taft on

Just prior to the start of 2023 open enrollment season, the IRS finalized new rules that will now make it easier for some families to access premium tax credits (PTC) for health insurance purchased through an exchange...more

Trusaic

Final Regulations Amend Eligibility for Premium Tax Credits

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The IRS recently issued final regulations on the use of Premium Tax Credits (PTCs), resolving the “family glitch” and extending PTC eligibility beyond individuals to family members.  As a result, individuals and their...more

Groom Law Group, Chartered

Fixing the “Glitch” – The IRS Releases Final Rule Addressing the “Family Glitch”

On Tuesday, October 11, Treasury and IRS issued final regulations amending the regulations under the Affordable Care Act (“ACA”) regarding the affordability determination for an employee’s family members of employer-sponsored...more

Woodruff Sawyer

Compliance Alert: IRS Issues Affordability Percentage Adjustment for 2023

Woodruff Sawyer on

The Internal Revenue Service (IRS) has released Rev. Proc. 2022-34, which contains the inflation- adjusted amounts for 2023 that are used to determine whether employer-sponsored coverage is “affordable” for purposes of the...more

Fisher Phillips

Treasury Proposes Rule to Fix Family Glitch for ACA Marketplace Coverage

Fisher Phillips on

The Department of Treasury recently issued proposed regulations to alter the rules for how individuals can get a premium tax credit (PTC) to help pay for Marketplace health coverage starting in 2023. The new rules would base...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - April 2022

The April Monthly Minute addresses the newly extended HSA/telehealth rule and IRS proposed rules that reconsider family PTC eligibility and affordability. Last month, the Consolidated Appropriations Act of 2022 was passed...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report — Legislative Day 15 2022

The General Assembly took a half day on Friday after a full week of floor debates and committee proceedings. Although the House and Senate addressed a collective six measures on their floors, legislators made quick work of...more

Manatt, Phelps & Phillips, LLP

Build Back Better: All Eyes on the Senate

The Big Picture - On November 19, the House of Representatives passed the Build Back Better Act (BBB) (H.R. 5376) by a vote of 220–213. The BBB contains a number of health and social policy priorities that are widely viewed...more

Groom Law Group, Chartered

House Passes Build Back Better Act

On November 19, 2021, the U.S. House of Representatives voted to approve the Build Back Better Act (H.R. 5376, the “BBB Act”), the budget reconciliation bill that includes much of President Biden’s economic and social policy...more

Groom Law Group, Chartered

House Budget Reconciliation Text Includes Significant Health, Paid Leave, and Retirement Provisions

On September 15, the House Ways and Means and Energy and Commerce Committees advanced components of the Democrats’ $3.5 trillion budget reconciliation package (“Budget Legislation” or “the Legislation”). The Legislation...more

Akerman LLP - HR Defense

Deadline Triggered as COBRA Premium Subsidy Ends

Employers and plans are reminded that they must provide a COBRA subsidy expiration notice no later than September 15, 2021, pursuant to the American Rescue Plan Act of 2021 (ARPA). ARPA had included some new COBRA obligations...more

Fisher Phillips

IRS Provides Further Clarity to Employers on Stimulus Tax Credits

Fisher Phillips on

The Internal Revenue Service recently released a Notice to further explain its position on certain issues related to the COBRA premium assistance and corresponding tax credits available under the American Rescue Plan Act of...more

Partridge Snow & Hahn LLP

IRS FAQ Expands Free COBRA Entitlement

On May 18, 2021, the Internal Revenue Service published guidance in the form of a series of 86 questions and answers (“FAQ”) that address the American Rescue Plan Act of 2021’s (“ARPA”) continuation health coverage in the...more

Stinson - Benefits Notes Blog

IRS Releases Guidance on Premium Subsidies for Continuation Coverage under COBRA

On May 18, 2021, the Internal Revenue Service (IRS) released much-anticipated guidance on premium subsidies for continuation coverage under Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) provided by the...more

Laner Muchin, Ltd.

New IRS Guidance Offers Employers Direction regarding COBRA Subsidy Obligations

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As we previously reported, the recently enacted American Rescue Plan Act of 2021 (ARPA) includes a six-month COBRA premium subsidy whereby the federal government subsidizes 100% of the COBRA premium during the period of April...more

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