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.
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.
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...
Employers will have until March 2, 2020, to distribute Forms 1095 to employees. The original January 31 deadline has been extended for the fourth, consecutive year.
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.)
Area insurers are beginning to issue 2018 plan year medical loss ratio (MLR) rebates. The Affordable Care Act requires insurers to meet MLR requirements each year. If an insurer doesn’t meet the minimum MLR (spend 80 to 85 percent of its premium dollars on health care or activities that improve...
The IRS recently lowered the affordability threshold for the 2020 calendar year to 9.78% of household income from the 2019 threshold of 9.86%. This percentage is used to determine an individual’s eligibility for a premium tax credit and the affordability of employer-sponsored coverage.
Employers who are responsible for paying the annual Patient-Centered Outcomes Research Institute (PCORI) Trust Fund fee should use the updated Form 720. The PCORI fee must be reported annually on the second quarter Form 720 and paid by the July 31 due date.
The IRS released the final versions of the 2018 Forms 1094 and 1095 needed to comply with the Affordable Care Act (ACA) reporting requirement.
The IRS recently raised the affordability threshold for the 2019 calendar year to 9.86% of household income from the 2018 threshold of 9.56%.This percentage also is used to determine the affordability of employer-sponsored coverage for applicable large employers (employers with 50 or more full-time