Posts Tagged: 4980H

Official Final Reporting Regulations

in Affordable Care Act

The official final regulations were released today on 4980H reporting and minimum essential coverage reporting by employers.  We will be following up later this week with how employers can comply with these rules in a cost effective manner.  http://www.gpo.gov/fdsys/pkg/FR-2014-03-10/pdf/2014-05050.pdf  http://www.gpo.gov/fdsys/pkg/FR-2014-03-10/pdf/2014-05051.pdf

Employer Reporting Regulations Released

in Affordable Care Act

This evening the Internal Revenue Service issued final regulations governing the IRS and employee reporting requirements.  These reporting requirements apply for purposes of the employer penalty under Code Section 4980H.  Additional final reporting requirements apply for purposes of an employer who sponsors minimum essential coverage for its employees.  The final rules are to be published on Monday, March 10.  The unofficial versions are located as follows:  Code Section 4980H Reporting:  http://www.ofr.gov/OFRUpload/OFRData/2014-05050_PI.pdf  MEC Reporting:  http://www.ofr.gov/OFRUpload/OFRData/2014-05051_PI.pdf

Final Employer Penalty Regulations

in Affordable Care Act

As you no doubt seen in this morning’s paper, the final employer penalty regulations have been released.  We plan on providing a one hour teleconference to brief our clients on these daunting and important regulations (all 227 pages) in the next few weeks.  So, stay tuned for an invite.  In the meantime, here are a few important highlights:  Large employers with 100 or more employees only have to provide coverage to 70% of their full-time employees for 2015.  Beginning in 2016 and beyond the percentage increases to 95% of full-time employees. Employers with 50-99 employees do not have to comply… Continue Reading

Employer Penalty Solution Debunked

in Affordable Care Act

There has been some talk in practitioner circles as well as national newspapers about strategies to get around the employer penalty rules. These strategies are the result of some very tortured and winding analysis under Treasury’s ACA guidance to date. As you know, I’m all about legal maneuvering, but all the twists and turns are too involved to discuss here. But, most of the strategies involve some type of preventive care, mini-med or HRA offering to get around the 4980H (a) penalty, where minimum value and affordability aren’t required. Then, because Treasury’s minimum essential coverage rules are such a low… Continue Reading

Employer Penalty Comments

in Affordable Care Act

As many of you know, the employer penalty proposed regulations require crediting of hours of service for periods during which the employee is not actively at work. Currently, the proposed regulations do not contain any maximum time limit or cap on this credit, which could lead to situations where employers must credit hours of service for years or decades after an employee has stopped actively working. Today we filed comments with the IRS that will hopefully encourage the Service to place a cap on this crediting rule. Our comments are located here.