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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PCORI fee deadline July 31, 2022

Self-funded plan sponsors must file the annual Patient-Centered Outcomes Research Institute (PCORI) fee by July 31. Employers may select from four calculation methods to determine how much is owed and use Form 720 to submit the information to the IRS. For clarification on how to fill out Form 720...

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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 extends distribution deadline for ACA returns to March 2

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.

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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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Employers must follow guidelines when issuing MLR rebates

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...

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IRS to lower 2020 affordability rate

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. 

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Annual PCORI fee due July 31, 2019

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.

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