On Monday, March 6, the U.S.
On Monday, March 6, the U.S.
On February 23, 2017, the White House announced a one-year extension to the transition policy (originally announced November 14, 2013 and extended several times since) for individual and small group health plans that allows issuers to continue policies that do not meet ACA standards. This transition policy has now been extended to policy years beginning on or before October 1, 2018, provided that all policies end by December 31, 2018. This means individuals and small businesses may be able to keep their non-ACA compliant coverage through the end of 2018, depending on the policy year.
The IRS has announced that it will continue to process tax filings of individuals whose returns do not indicate whether they have maintained health insurance as required under the Affordable Care Act (ACA). The announcement is in direct response to the President’s January executive order to ease the ACA’s economic and regulatory burdens.
President Trump moved swiftly after taking office on Friday, issuing an Executive Order intended to minimize the economic and regulatory burdens of the Affordable Care Act (“ACA”). The order is somewhat symbolic and has no immediate effect on employers, many of whom are in the process of complying with the ACA’s onerous reporting requirements (Forms 1094 and 1095), which are not rescinded by the order.
Newly Formed Alera Group Brings Together 24 Employee Benefits, Property/Casualty, Risk Management and Wealth Management Firms
Historic M&A Deal Creates the Nation’s 14th Largest Private Insurance Firm, Seventh Largest Private Employee Benefits Firm
On December 7, 2016, the Senate passed the 21st Century Cures Act (“Cures Act”), an omnibus measure that includes the Small Business Healthcare Relief Act (“Relief Act”), which significantly expands small employers’ options for providing health coverage.
On Tuesday, November 22 a federal judge issued a nationwide injunction blocking the U.S. Department of Labor (“DOL”) from implementing its new overtime rule scheduled to take effect December 1, 2016. The rule would have affected approximately 4 million executive, administrative and professional (“EAP”) employees, making them eligible for time-and-a-half pay for all hours worked in excess of 40 per week if their salary is below $913 per week ($47,476 per year). The new threshold would have doubled the current threshold of $455 per week ($23,660 per year).
Yesterday, U. S. District Judge Amos Mazzant out of Texas issued a nationwide preliminary injunction against the Department of Labor’s (DOL) white collar exemption increase. The final rule to the Fair Labor Standards Act was issued May 18, 2016 to take effect December 1, 2016. Raising the nation’s White Collar exemption salary threshold for the first time since 2004, from $455 per week/$23,660 to $913 per week.
The Internal Revenue Service (IRS) has released Notice 2016-70, which extends the deadline for furnishing Forms 1095-B and 1095-C to individuals from January 31, 2017 to March 2, 2017. The Notice did not delay the due date for filing the forms with the IRS, which remains February 28 if filing by paper, or March 31 if filing electronically.
The votes have been counted and Donald Trump is the president-elect and Republicans control Congress. Among the many questions around the proverbial watercooler is what now for “Obamacare”? While it is impossible for anyone to predict the future, we undertake to make a short, best guess about the future of the Affordable Care Act (“ACA”).
As a candidate, Mr. Trump repeatedly vowed to “repeal and replace” the ACA. So, the first question is, inevitably, will the ACA be repealed and, if so, what will replace it?