If the ACA is to be repealed in the near future many steps remain and the final outcome is still unknown. Notably, the following steps stand between a repeal (and potential replacement) of the ACA and the current law: The House has to draft the repeal bill The House has to vote on the repeal… Continue reading If The ACA Is To Be Repealed
On Friday, January 20, 2017, President Trump signed his first Executive Order, titled “Minimizing the Economic Burden of the Patient Protection and Affordable Care Act Pending Repeal.” The Executive Order instructs the Secretary of the Department of Health and Human Services (HHS) and the heads of all other executive departments and agencies with authority, or… Continue reading Executive Order from President Trump on the ACA
On December 28th, the New York State DOL finalized regulations that will increase the salary threshold statewide for exempt executive and administrative employees, set to take effect December 31, 2016. The federal FLSA minimum salary threshold was delayed by a Texas court judge. The new thresholds for 2017 across New York State are as follows,… Continue reading NY Increases Salary Threshold for Exempt Employees
Under the Affordable Care Act (ACA), an employer is an Applicable Large Employer (ALE) and subject to the Employer Shared Responsibility requirements if it employed, on average, at least 50 full-time or full-time equivalent employees (FTEs) during the prior calendar year. For example, an employer’s size calculated over calendar 2016 determines the employer’s ACA obligations… Continue reading Do You Have About 50 Employees?
Effective January 1, 2017 the 21st Century Cures Act alters the way certain small employer health reimbursement arrangements (HRAs) are treated under the Affordable Care Act. Under the provision, employees may use qualifying HRAs to purchase coverage in the individual market. These arrangements will no longer be considered “group health plans” and, with the exception… Continue reading New HRA Option For Small Employers
Employers that sponsor certain self-insured health plans are responsible for fees under ACA to fund the Patient-Centered Outcomes Research Institute (PCORI). The definition of self-insured generally includes a health reimbursement arrangement (HRA). With the help of your HRA vendor, you have been paying and reporting this fee each year with IRS Form 720. Recently the… Continue reading IRS PCORI Fee Audits On The Horizon?