News & Analysis as of

Health Insurance Healthcare Internal Revenue Service

Seyfarth Shaw LLP

IRS Releases 2024 Limits for Health and Welfare and Related Plans

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Seyfarth Synopsis: The IRS has announced an increase to the applicable dollar amount for determining the Patient-Centered Outcomes Research Institute (“PCORI”) Fee for 2024 as well as other health and welfare limits....more

Epstein Becker & Green

Local Law Amends New York City Charter and Establishes an Office of Healthcare Accountability

On June 8, 2023, the New York City Council passed a bill focused on healthcare accountability, with the goal of increasing access to healthcare services for New Yorkers. Entitled the Healthcare Accountability & Consumer...more

Brownstein Hyatt Farber Schreck

Breaking Down the Health Care Impact of the Fiscal Responsibility Act

The Fiscal Responsibility Act, the product of intense negotiations between the White House and House Republican leadership, suspends the debt limit and outlines government spending cuts....more

Freeman Law

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

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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

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

Trusaic

Receive an ACA Penalty from the IRS? Here’s What to Do

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It’s no secret that IRS enforcement is ramping up. With an additional $80 billion in funding and 87,000 new agents, employers should accept the fact that ACA penalties could be coming their way if they’ve neglected the...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

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

McDermott Will & Emery

Texas Comptroller Announces Medical or Dental Billing Services are Not Taxable, Effective Immediately

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On June 4, 2021, the Texas Comptroller issued a policy statement (Accession No. 202106003L) announcing that it is not going to enforce its previously stated policy of taxing medical billing services. This guidance comes in...more

Stoel Rives LLP

Outbreak Period to Be Applied on a One-Year Rolling Basis

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In this legal update, our employee benefits attorneys cover three recent health and welfare plan developments....more

McCarter & English, LLP

Benefit Plan Deadlines Extended, Enforcement Standards Relaxed by DOL And IRS During Pandemic

The U.S. Department of Labor’s Employee Benefits Security Administration and the IRS recently issued the following coordinated guidance providing additional relief to employee benefit plan sponsors, fiduciaries, participants,...more

Proskauer - Employee Benefits & Executive...

New Jersey Individual Mandate Requires State Filings in March 2020

The Affordable Care Act’s individual mandate (i.e., the requirement that most individuals obtain adequate health insurance or pay a penalty) is dead. A side effect of the ACA mandate’s demise is that states are beginning to...more

Jackson Walker

New Tool to Contain Employer Healthcare Costs

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Healthcare coverage became an employer-offered benefit during World War II as the result of the federal government’s wage and price controls. Since that time, Medicare has become an important part of how healthcare is...more

Bricker Graydon LLP

IRS readjusts HSA contribution limit

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In March of this year, the IRS adjusted the 2018 HSA contribution limit for individuals enrolled in family coverage down $50 from $6,900 to $6,850. A little over a month later, the IRS reconsidered the retroactive limit...more

Littler

IRS Resolves 2018 HSA Contribution Limit Confusion

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Acknowledging “numerous unanticipated administrative and financial burdens,” the IRS officially revoked its earlier attempt to lower the 2018 health savings account (HSA) contribution limits. ...more

Proskauer - Employee Benefits & Executive...

IRS Once Again Extends Distribution (Not Filing) Deadline for ACA Reporting and Continues Good Faith Standard

Following the old “better late than never” axiom, the IRS recently announced (see Notice 2018-06) that once again it would be extending the distribution (but not filing) deadline for the Affordable Care Act (ACA) reporting...more

Schwabe, Williamson & Wyatt PC

Beware: IRS To Begin Issuing ACA Employer Shared Responsibility Payment Penalty Notices

The IRS has announced its next steps regarding the Employer Shared Responsibility Payments (the “ESRPs”), which are the ACA penalties assessable to “Applicable Large Employers” for failing to provide affordable health care...more

Holland & Knight LLP

Six Tips for Tribal Governments to Reduce Tribal Member Taxes in 2017

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As the Republican-led Congress and White House move forward on the repeal of the Affordable Care Act (ACA) and major tax-reform legislation, there are several new opportunities that may benefit tribal governments and their...more

Ballard Spahr LLP

Health Care Reform in Transition While Congress Deliberates

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Changes are imminent for the Affordable Care Act and a range of other laws and regulations affecting the health care industry. Ballard Spahr attorneys established a Health Care Reform Initiative in 2008 to monitor and analyze...more

Perkins Coie

Avoiding COBRA’s Bite: Measures to Counter COBRA Class Actions

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With the filing of a class action complaint in late 2016 in the U.S. District Court for the Southern District of Florida, Wal-Mart Stores, Inc. became the latest large company accused of failing to provide adequate notices as...more

Franczek P.C.

IRS Grants Extension of ACA Information Reporting Deadline and Provides Good Faith Standards for 2016 Information Reports

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The IRS recently issued Notice 2016-70, which extends certain 2017 deadlines for employer information reporting under the Affordable Care Act (ACA) on health coverage offered to individuals during the 2016 calendar year. The...more

McNees Wallace & Nurick LLC

Limited Relief for Employer Reporting Under the Affordable Care Act

On November 18, 2016, the IRS recently announced limited relief for employer reporting on Forms 1094 and 1095 for the 2016 tax year. The relief extends the deadline for furnishing statements to individuals, but does not...more

Poyner Spruill LLP

Update on ACA Reporting (Forms 1095-C and 1094-C) – Round Two

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The Internal Revenue Service just issued Notice 2016-70 granting certain transitional relief in regards to 2016 ACA reporting requirements. In particular this Notice: - Postpones the due date to provide 2016 Form...more

Perkins Coie

Will Employers’ ACA Obligations Change Under the Trump Administration?

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During his campaign, President-elect Trump promised to make the repeal and replacement of the Affordable Care Act (ACA) a priority. Now that the election is over, what should employers expect? We don’t have a crystal ball,...more

Ballard Spahr LLP

IRS Extends ACA Reporting Deadline

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The IRS has extended the deadline for furnishing 2016 Forms 1095-C and 1095-B to individuals by 30 days to March 2, 2017. The reprieve offers welcome relief to employers, health insurers, and other plan sponsors who would...more

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