ACA Penalties Are Coming
It's about to get real, folks. ACA penalties are on the way. And employers must prepare to respond. In the next 45 days, the IRS will send fine notices to employers who have failed to comply with the Affordable Care Act (ACA). Guidance released by the IRS explains that Letter 226J will be sent to non-compliant employers with penalty amounts and violations outlined within. This is a clear indication that the IRS is ready to assess ACA penalties and serves as an important remin
ACA Penalties for Large Employers Being Enforced by IRS
On November 2, 2017, the Internal Revenue Service (IRS) quietly updated its Questions and Answers page pertaining to the employer shared responsibility provisions of the Affordable Care Act (ACA). Significantly, the IRS added a section titled, “Making an Employer Shared Responsibility Payment,” which includes the first-ever official, detailed guidance regarding how penalties under Internal Revenue Code (IRC) section 4980H will be communicated to employers with Letter 226J, as
Trump Signs Executive Order that Impacts Health Insurance
OVERVIEW On Oct. 12, 2017, President Donald Trump signed an executive order intended to change certain rules under the Affordable Care Act (ACA). The order would relax regulations on association health plans. This change could allow individuals and small businesses to purchase health insurance policies across state lines and avoid certain ACA requirements. The executive order also directs the Departments of Labor, Health and Human Services, and the Treasury (Departments) to c
