Bulletins

IRS lowers ACA affordability rate for 2023

The IRS recently issued Revenue Procedure 2022-34, lowering the affordability threshold for the 2023 calendar year to 9.12% of annual household income from the 2022 threshold of 9.61%. This percentage is used to determine an individual’s eligibility for a premium tax credit (PTC) through...

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IRS to lower 2022 ACA affordability rate

The IRS recently issued Revenue Procedure 2021-36, lowering the affordability threshold for the 2022 calendar year to 9.61% of household income from the 2021 threshold of 9.83%. This percentage is used to determine an individual’s eligibility for a premium tax credit and the affordability of...

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Annual CMS Notice due October 15

Employers have an annual obligation to issue a creditable or non-creditable coverage notice to all plan participants who are Medicare eligible, including dependents and retirees. The notice, due October 15, informs Medicare-eligible participants whether their prescription drug coverage is at least...

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IRS increases 2021 PCORI fee

The annual Patient-Centered Outcomes Research Institute (PCORI) fee for plans ending between October 1, 2020, and October 1, 2021, is $2.66. This is an increase from the 2020 rate of $2.54.

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Deadline to provide employee ACA forms extended to March 2

In Notice 2020-76, the IRS extended the January 31, 2021, deadline to submit 2020 employee 1095-B and 1095-C ACA forms to March 2, 2021. The Notice does not extend the deadlines for employers to file ACA forms with the IRS. 

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DOL releases marketplace notice

Since 2013, employers have been responsible for providing employees one of two Insurance Marketplace notices summarizing their health insurance options. There is no annual obligation to provide the notice to all employees, rather employers must provide the notice to all new hires, regardless of...

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IRS to raise 2021 affordability rate

The IRS recently raised the affordability threshold for the 2021 calendar year to 9.83% of household income from the 2020 threshold of 9.78%. This percentage is used to determine an individual’s eligibility for a premium tax credit and the affordability of employer-sponsored coverage. Failure to...

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Congress repeals several ACA taxes; PCORI tax reinstated

Three tax provisions within the Affordable Care Act have been shuttered by recent congressional action, and the recently expired PCORI fee has been reinstated for another 10 years starting in 2020. Passed in both the House and Senate, the measures were signed into law by President Trump on December...

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4% ACA premium tax returns in 2020

Self funded plans exempt from tax

After a suspension in 2019, the health insurance tax, spawned by the Affordable Care Act (ACA), will be reinstated in 2020. That tax affects fully insured medical, dental and vision coverage. (See a more complete list of affected coverages below.) 

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