Healthcare Compliance Inc

Tuesday, 13 February 2018

Affordable Care Act Software 2018 | Section 125 – Cafeteria Plans Overview

A Section 125 plan, or a cafeteria plan, allows employees to pay for certain benefits on a pre-tax basis. Specifically, employers use these plans to provide their employees with a choice between cash and certain qualified benefits without adverse tax consequences. Paying for benefits on a pre-tax basis reduces the employees’ taxable income and therefore reduces both the employees’ and the employer’s tax liability.

In order to receive these tax advantages, a cafeteria plan must comply with the rules of Internal Revenue Code (Code) Section 125 and related Internal Revenue Service (IRS) regulations. Under these rules, a Section 125 plan must have a written plan document and can only offer certain qualified benefits on a tax-favored basis. While self-employed individuals may maintain a Section 125 plan for their employees, only common law employees may participate in the plan.

In addition, once an employee makes a Section 125 plan election, he or she may not change that election until the next plan year, unless the employee experiences a permitted election change event. Also, in order for highly compensated employees to receive the tax advantages associated with a Section 125 plan, the plan must generally pass certain nondiscrimination tests.

Click Here to download the full article.

The post Affordable Care Act Software 2018 | Section 125 – Cafeteria Plans Overview appeared first on ACA Reporting Service | Obamacare Compliance | Health Care Compliance Inc..

source https://healthcare-compliance-inc.com/affordable-care-act-software-2018-section-125-cafeteria-plans-overview/

Friday, 9 February 2018

Full Time Employee Tracking for ACA | Republicans Kill Obamacare’s Controversial Death Panel

The Affordable Care Act is working to make health care more affordable, accessible, and of a higher quality for families, seniors, businesses, and taxpayers alike.

Now Congress has killed a part of Obamacare that never even got to live except in the realm of political theater.

After years of GOP bluster about a Medicare cost-cutting tool — known as the Independent Payment Advisory Board, or IPAB — lawmakers quietly erased that deeply controversial part of the Affordable Care Act in a broad federal spending plan that passed both chambers of Congress while we were sleeping last night. The massive budget deal, which hikes military and domestic spending by hundreds of billions of dollars, passed the House at 5:30 a.m., nearly four hours after the Senate cleared the legislation, my colleagues Mike DeBonis and Erica Werner report.

The IPAB is the second part of President Obama’s health-care law this current Congress has kicked out the door, and unlike the individual mandate — recently unwound by the partisan GOP tax overhaul — many Democrats are on board this time around, but mostly because they’re supporting the larger spending framework.

Discussion of the Affordable Care Act often incites fear, confusion, and anger in people both for and against its passage.

Monday, 29 January 2018

32 Days Left to Distribute Form 1095 to your Employees!

March 2, 2018 is the next deadline to distribute 2017 IRS Form 1095, Employee Statements, to your eligible employees.

HCI offers a Turn-Key Solution to generate IRS Forms 1094 & 1095
35 days remaining – Form 1095 deadline 3-2-2018

* $500 * Ask how you can receive a $500 discount on HCI Services

To address the high demand for our services, HCI has added 4 additional teams, all trained and now ready to accept reservations. . To RSVP click here.

As we receive addition information from the IRS, we will pass it along. If you have an immediate concern about ACA compliance, call a Team member at 800-325-1333.

The HCI Team

The post 32 Days Left to Distribute Form 1095 to your Employees! appeared first on ACA Reporting Service | Obamacare Compliance | Health Care Compliance Inc..

source https://healthcare-compliance-inc.com/32-days-left-distribute-form-1095-employees/

HCI’s New and Improved ACA Software for 2017 IRS Forms 1094 & 1095

32 DAYS left to distribute IRS Form 1095 to your Employees!
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The post HCI’s New and Improved ACA Software for 2017 IRS Forms 1094 & 1095 appeared first on ACA Reporting Service | Obamacare Compliance | Health Care Compliance Inc..

source https://healthcare-compliance-inc.com/hcis-new-and-improved-aca-software-for-2017-irs-forms-1094-1095/

Thursday, 4 January 2018

IRS Extends Deadline for Filing Form 1095-C to Employees

On Dec. 22, 2017, the Internal Revenue Service issued Notice 2018-06, which provides certain extensions related to Affordable Care Act reporting for 2017. Specifically, this notice:

• Extends the due date for furnishing forms to individuals under Sections 6055 and 6056 from Jan. 31, 2018, to March 2, 2018
• Extends good-faith transition relief from penalties related to 2017 information reporting under Sections 6055 and 6056

The due dates for filing forms with the IRS for 2017 are not affected by this guidance. The due date for filing with the IRS under Sections 6055 and 6056 remains Feb. 28, 2018 (April 2, 2018, if filing electronically).

Despite the delay, employers and other coverage providers are encouraged to furnish 2017 statements to individuals as soon as they are able.

Thursday, 14 December 2017

Affordable Care Act ALE Compliance | Health Plan Rules – Treating Employees Differently

Some employers may want to be selective and treat employees differently for purposes of group health plan benefits. For example, employers may consider implementing the following plan designs:

– A health plan “carve-out” that insures only select groups of employees (for example, a management carve-out);
– Different levels of benefits for groups of employees; or
– Employer contribution rates vary based on employee group.

In general, employers may treat employees differently, as long as they are not violating federal rules that prohibit discrimination in favor of highly compensated employees. These rules currently apply to self-insured health plans and arrangements that allow employees to pay their premiums on a pre-tax basis. The nondiscrimination requirements for fully insured health plans have been delayed indefinitely.

Employers should also confirm that any health plan rules do not violate other federal laws that prohibit discrimination. In addition, employers with insured plans should confirm that carve-out designs comply with any minimum participation rules imposed by the carrier.

Click Here to download the full article.

ACA Reporting Service | California Supports Obamacare by Outspending U.S. 4-to-1 on Ads

The post Affordable Care Act ALE Compliance | Health Plan Rules – Treating Employees Differently appeared first on ACA Reporting Service | Obamacare Compliance | Health Care Compliance Inc..

source https://healthcare-compliance-inc.com/affordable-care-act-ale-compliance-health-plan-rules-treating-employees-differently/

Tuesday, 21 November 2017

ACA Reporting Service | California Supports Obamacare by Outspending U.S. 4-to-1 on Ads

The Affordable Care Act is still law.

Californians are getting barraged with online pop-up ads, radio spots and television commercials, all aimed at persuading them to sign up for Affordable Care Act health plans during this year’s open-enrollment season.

Covered California, the state’s Obamacare exchange, is wielding a monster marketing budget that devotes $45 million to ads, including $18 million for TV and $8 million for radio. The agency is so flush with marketing dollars that it also spent $100,000 for a dozen freshly painted murals across the state, most of which have nothing directly to do with health insurance enrollment.

Covered California’s marketing riches contrast starkly with the advertising budget for the federal health insurance exchange, healthcare.gov. The feds have slashed ad dollars to $10 million, down from $100 million last year.

The huge discrepancy reflects conflicting attitudes toward the ACA, commonly known as Obamacare, said Gerald Kominski, director at the UCLA Center for Health Policy Research.

Also, before changes to the provisions of the Affordable Care Act can be made, alternatives need to be worked out.