President Obama has signed the omnibus legislation that includes the Consolidated Appropriations Act for 2016 and a tax extenders package. The agreement will keep the federal government running through September 2016. Within the legislation is language that significantly impacts provisions of the Patient Protection and Affordable Care Act (ACA), largely through delays of upcoming taxes. […]
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IRS Notice 2015-87: HRAs, Affordability, and More
IRS Notice 2015-87: HRAs, Affordability, and More On December 16, 2015, the Internal Revenue Service (IRS) and other federal agencies released IRS Notice 2015-87, which is a “potpourri” update that covers many different topics relating to the Patient Protection and Affordable Care Act (ACA), including some relating to market reforms. The Notice generally covers health […]
Read moreCompliance Recap // November 2015
As 2015 winds down, federal agencies are working to provide updates and proposed or final regulations. The Patient Protection and Affordable Care Act’s (ACA) auto-enrollment requirement was repealed, implications of the PACE Act were clarified, a proposed rule relating to the Genetic Information Nondiscrimination Act (GINA) and wellness programs was released, and a final rule […]
Read moreGuest Blog // ACA Reporting Instructions from HR Service, Inc.
With the big rush for organizations to prepare their ACA reports, our strategic partner, HR Service, Inc., created these step-by-step ACA Reporting Instructions to help organizations who are doing their own reporting. Thank you, HR Service, Inc.!
Read moreReminder – 2016 ACA Reporting Requirements
Minimum Essential Coverage (MEC) (Section 6055) and Large Employer (Section 6056) reporting are required by the Affordable Care Act (ACA) to help the Internal Revenue Service (IRS) administer compliance with the individual and employer mandates. The insurance carrier is responsible for MEC reporting on individuals covered under fully insured health plans. Employer clients are responsible for […]
Read moreGuest Blog – Three out of Four U.S. Employers To Be Hit with Cadillac Tax by 2022
Even Bronze-Level Plans Subject to Excise Tax, Finds UBA Survey Many employers falsely assume that the Cadillac tax will apply only to the richest plans. However, newly release data from the 2015 UBA Health Plan Survey shows that even the lowest quality “Bronze-level” health insurance plans on the Affordable Care Act (ACA) exchanges are at […]
Read moreTime is running out! IRS Play or Pay Reporting: The Final Countdown – Employer Webinar
Benefit Insurance Marketing is pleased to extend an invitation to attend our upcoming monthly compliance Webinar. In conjunction with our alliance with United Benefit Advisors, you have the opportunity to learn more about the latest compliance trends and regulations from one of the nations leading employment and benefit law firms, Jackson Lewis LLP. Best of all, you can […]
Read moreACA Reporting (Applies to Applicable Large Employers)
Attention to all Applicable Large Employers (ALEs) with 50 or more full-time equivalents. BIM’s strategic partner, Worxtime, is no longer accepting new clients that require employee tracking and reporting. However, they are still accepting new clients for reporting only through November 13, 2016. At the time this blog is published, BIM’s other strategic partner, ACA Reporting […]
Read moreCompliance Recap // October 2015
Compliance Recap October 2015 October was a relatively quiet month, although it began with a big shift for employers with the Protecting Affordable Coverage for Employees (PACE) Act becoming law, which amended the Patient Protection and Affordable Care Act (ACA) and redefined small employers as those with 50 or fewer employees and gave states the […]
Read moreACA’s Auto-Enrollment Requirement Repealed
The Patient Protection and Affordable Care Act (ACA) initially required employers with more than 200 full-time employees and that offer employees one or more health benefit plans must automatically enroll (and re-enroll existing) full-time employees into one of the health plans (subject to any waiting period authorized by law), in accordance with DOL regulations. Following […]
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