News & Analysis as of September 19, 2024

Shared Responsibility Rule

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The term "Individual Mandate" typically refers to a requirement under the Patient Protection and Affordable Care Act of 2010 that all United States residents must obtain "minimum essential... more +

The term "Individual Mandate" typically refers to a requirement under the Patient Protection and Affordable Care Act of 2010 that all United States residents must obtain "minimum essential healthcare coverage" unless they qualify for one of eight exemptions under the Act. The Act defines "minimum essential coverage" and levies penalties against individuals who fail to comply with the mandate. less -

Affordable Care Act Battle Rages On: Fourth Circuit Holds Individual Mandate Is a Tax in Bankruptcy

Rosenberg Martin Greenberg LLP on 1/25/2023

As originally enacted, the Affordable Care Act (“ACA”) required most people to maintain health insurance. Those who did not maintain the required insurance were obligated to pay a “shared responsibility payment” (“SRP”),...more

2019 End of Year Plan Sponsor “To Do” List (Part 1) Health & Welfare

Snell & Wilmer on 10/18/2019

As 2019 comes to an end, we are pleased to present our traditional End of Year Plan Sponsor “To Do” Lists. This year, we present our “To Do” Lists in four separate Employee Benefits Updates. This Part 1 covers year-end health...more

The Primary Purpose Test and SRP Chameleon: How the Obamacare “Penalty” Became a “Tax” Only to Become a “Penalty” Again

BCLP on 7/23/2018

The Patient Protection and Affordable Care Act of 2010 (a/k/a “Obamacare” or the “ACA”), with its infamous “individual mandate” (and corresponding “shared responsibility payment” (which we’ll call the “SRP”)), is no stranger...more

Recent Developments in Affordable Care Act Compliance: Employer Obligations for 2018 and Beyond

Franczek P.C. on 2/6/2018

Over the past year, there has been a significant focus in the press on various attempts to overhaul or repeal key elements of the Affordable Care Act (“ACA”), which was originally passed into law almost eight years ago. While...more

House of Representatives Passes the Tax Cuts and Jobs Act (H.R. 1); Senate Finance Committee Approves Modified Version; Comparison...

Proskauer - Tax Talks on 11/20/2017

Yesterday afternoon, the House of Representatives passed the Tax Cuts and Jobs Act (H.R. 1) (the “House bill”). The House bill is identical to the draft bill approved by the House Ways and Means Committee on November 10. Late...more

IRS Will Not Require Response to Qualifying Health Coverage Line on 2016 Form 1040 Filings

Dickinson Wright on 3/28/2017

Individuals completing their 2016 IRS Form 1040s will recognize the question asking if they, their spouses and dependents had qualifying health care coverage in 2016 (Form 1040 line 61, Form 1040A line 38, Form 1040EZ line...more

The Affordable Care Act’s Reporting Requirements for Carriers and Employers: The Basics (Part 3 of 24)

Mintz - Employment, Labor & Benefits... on 8/5/2015

Alden Bianchi, Chair of Mintz Levin’s Employee Benefits & Executive Compensation Practice, will provide a weekly installment on the complex reporting obligations outlined by the Affordable Care Act for health insurance...more

King v. Burwell – Will the Supreme Court Tip the ACA Dominos? Part 2

Locke Lord LLP on 6/15/2015

In our previous blog post, we evaluated the legal issues at stake in King v. Burwell. We will now examine some of the ramifications of a Supreme Court decision that goes against the Obama Administration, assuming such were to...more

Issue 92: IRS Releases Final Employer Reporting Forms and Instructions

Seyfarth Shaw LLP on 6/1/2015

As we previously reported in Issue 80, the Affordable Care Act (ACA) requires providers of minimum essential health coverage and applicable large employers to file annual reports with the IRS to report the coverage provided...more

Final Regulations Issued Regarding Employer Reporting Requirements Under ACA

McDermott Will & Emery on 3/14/2014

Recently issued final regulations on the employer reporting requirements under the Affordable Care Act (ACA) clarify and streamline the process for reporting information relating to the provision of minimum essential coverage...more

Proposed And Final Rules Released Regarding The ACA's Individual Mandate

Polsinelli on 2/28/2013

In This Issue: - Minimum Essential Coverage ..HHS Proposed Rule - Shared Responsibility Payments and Exemptions ..HHS Proposed Rule ..IRS Proposed Rule ..IRS Final Rule - Essential Health Benefits ...more

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