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Welcome to the Snell & Wilmer Benefits Blog. We will be posting about current employee benefits and executive compensation topics and issues. We invite you to contact the authors with your thoughts or questions.Blog Contributors
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IRS to Begin Enforcing 4980H Penalties on Large Employers Before End of 2017
On November 2, 2017, the IRS issued guidance regarding the enforcement of Employer Shared Responsibility payments, otherwise known as the Section 4980H penalty. Questions 55-58 of the IRS Questions and Answers on Employer Shared Responsibility Provisions Under the Affordable Care … Continue reading
Posted in Employee Benefits, Health & Welfare Plans, Health Care Reform
| Tagged 4980H, ACA, Affordable Care Act, employer shared responsibility, health care reform, health plans, IRS, large employer penalties, minimum essential coverage
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Full Steam Ahead: IRS Moves Forward to Collect Affordable Care Act Penalties
As efforts to reform the Affordable Care Act (the “ACA”) stall in Congress, a recent government report suggests that the Internal Revenue Service is preparing to identify and collect employer shared responsibility penalties. The Treasury Inspector General for Tax Administration … Continue reading
Posted in Employee Benefits, Health & Welfare Plans, Health Care Reform
| Tagged ACA, Affordable Care Act, Form 1095-c, IRS, large employer penalties, penalties, reform
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ACA Information Reporting Penalties Have Been Increased
Code Sections 6055 and 6056 require large employers and all employers (even small employers) sponsoring self-funded health plans to file information returns with the IRS and furnish statements to applicable employees concerning the health coverage offered or provided to these … Continue reading
Posted in Employee Benefits, Health & Welfare Plans, Health Care Reform
| Tagged Affordable Care Act, heatlth care reform, large employer penalties, large employer reporting, penalty increase, Section 6055, Section 6056, self-funded health plans, TPEA
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Health Care Reform 2015 – An Update
2015 is a significant year for health care reform because the large employer shared responsibility penalties under Internal Revenue Code Section 4980H take effect for most large employers. See our SW Benefits Update, “Health Care Reform’s Employer Shared Responsibility Penalties: A … Continue reading
Posted in Employee Benefits, Health & Welfare Plans, Health Care Reform
| Tagged Affordable Care Act, Health Care, health care reform, health plans, king v. burwell, large employer penalties
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Final Regs on Health Care Reform Large Employer Penalties May Help Employers Who Hire Employees From Staffing Firms
As explained in my Checklist for Employers, a large employer will have to pay a subsection (a) penalty for any month if it does not offer “minimum essential coverage” (“MEC”) to substantially all (i.e., 70% for 2015 and 95% for … Continue reading
Posted in Employee Benefits, Health & Welfare Plans, Health Care Reform
| Tagged Affordable Care Act, final regulations, Health Care, health care reform, health plans, large employer penalties, MEC, minimum essential coverage
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Do you know who is in your controlled group? Employers need to know for purposes of the large employer shared responsibility penalties
Most employee benefit plans are subject to nondiscrimination rules. In order to prevent employers from breaking apart companies in order to avoid these nondiscrimination rules, most employee benefit plans, in performing nondiscrimination testing, must take into account related businesses (i.e., … Continue reading
Posted in Employee Benefits, Health & Welfare Plans, Health Care Reform
| Tagged Affordable Care Act, controlled group, Health Care, health care reform, health plans, large employer penalties
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Final Regs on Health Care Reform Large Employer Penalties Include New Transition Relief Easing Employers Into Compliance
The IRS issued final regulations implementing the employer shared responsibility penalties on February 12, 2014. As promised in an earlier post, I have updated our Checklist for Employers to reflect the final regulations. Although the Checklist explains many of the … Continue reading
Posted in Employee Benefits, Health & Welfare Plans, Health Care Reform
| Tagged Affordable Care Act, final regulations, health care reform, large employer penalties
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IRS Finally Issues Final Regs on Health Care Reform Large Employer Penalties — Employers May Want to Start Compliance Efforts Now
In July 2013, Treasury announced that the large employer shared responsibility penalties would not take effect until 2015. This one-year delay was welcome news, but it unfortunately resulted in many employers pushing this issue to the back burner. With the … Continue reading
Posted in Employee Benefits, Health & Welfare Plans, Health Care Reform
| Tagged Affordable Care Act, health care reform, large employer penalties, pay-or-play
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