By Anita Byer, Setnor Byer Insurance & Risk The beginning of the new year means that it is time for Applicable Large Employers to turn their attention to the Affordable Care Act’s annual information reporting requirements. Employers with 50 or more full-time or full-time equivalent employees...
By Anita Byer, Setnor Byer Insurance & Risk The Affordable Care Act’s affordability threshold will be lower in 2024 than ever before. The Internal Revenue Service recently announced that the affordability threshold for employer-sponsored group health plans that begin in 2024 will be 8.39 percent. The...
By Anita Byer, Setnor Byer Insurance & Risk The IRS announced that the Affordable Care Act’s affordability threshold for employer-sponsored group health plans will be 9.12 percent in 2023. Employers with 50 or more full-time or full-time equivalent employees (Applicable Large Employers or ALEs) must recognize...
By Anita Byer, Setnor Byer Insurance & Risk The IRS announced that the Affordable Care Act’s affordability threshold for employer-sponsored group health plans will be 9.61 percent in 2022. Employers with 50 or more full-time or full-time equivalent employees (Applicable Large Employers or ALEs) must recognize...
Setnor Byer Insurance & Risk This seemingly endless year is almost over…finally. That means it’s time for Applicable Large Employers (ALEs) to start focusing on the Affordable Care Act’s annual information-reporting requirements. Fortunately, the Internal Revenue Service extended the deadline for ALEs to furnish 2020 information...
The Affordable Care Act’s affordability threshold for employer-sponsored group health plans will increase to 9.83 percent in 2021. The affordability threshold is currently 9.78 percent. The impending increase primarily affects employers with 50 or more full-time or full-time equivalent employees. The ACA generally requires these...
It’s that time of year again. Large employers must turn their attention to the Affordable Care Act’s annual information-reporting requirements. The good news is that the Internal Revenue Service extended the deadline for large employers to furnish 2019 information statements to employees. However, the deadline to file information returns with the...
The Internal Revenue Service announced that the Affordable Care Act’s affordability threshold will be 9.78 percent in 2020. This is important because employers with 50 or more full-time or full-time equivalent employees in the preceding calendar year (Applicable Large Employers or ALEs) must offer their full-time employees minimum essential health...
It wasn’t long before campaign promises to repeal Obamacare became official White House policy. On his first day in office, President Trump issued an Executive Order stating that “it is the policy of my Administration to seek the prompt repeal of the Patient Protection and...
Is it wrong to lie on an insurance application? Many believe that it's no big deal, like lying to the IRS. In reality, it can have serious consequences, like lying to the IRS. If an insurance application contains false or incorrect information, a claim that...