To monitor compliance with the individual and employer mandates, the Patient Protection and Affordable Care Act (PPACA) requires reporting by employers and insurers – By Cigna
On June 25, 2015, the United States Supreme Court upheld a key part of the Affordable Care Act (ACA)—also known as ObamaCare. The Supreme Court held 6-3 in King et. al. v. Burwell, Secretary of Health and Human Services et.
al., __ U.S. __ (2015), that individuals could receive premium tax credits through either a state exchange or the federal exchange. The decision represents another big win for the ACA at the Supreme Court and upholds the ACA as enacted by Congress. Employers should be fully prepared to comply with the ACA or face the consequences because the ACA is here to stay.
We have gathered these clear and concise Health Care Reform checklists to help you stay compliant. Below you will find a checklist for Small Self-Insured Plans, Large Self Insured Plans, Small Fully Insured Plans and Large Fully Insured Plans.
The Affordable Care Act added sections 6055 and 6056 to the Internal Revenue Code which require employers to file information returns and furnish statements to individuals about their health insurance coverage. Reporting requirements for each code section is provided below.
Effective January 1, 2016, employers with 50 or more full-time equivalent employees must comply with the Pay or Play mandate. Coverage must be offered to at least 95% of their full-time employees (and their dependents). If the offered coverage is deemed unaffordable or as not meeting a 60% actuarial value, the employer will be subject to a fine if an employee receives a subsidy when purchasing coverage through Covered California.
Pay or Play, also know as Employer Shared Responsibility, is a provision of The Patient Protection and Affordable Care Act of 2010 (PPACA). Pay or Play requires employers who employ at least 100 full-time and full-time equivalent employees (reducing to 50 on January 1, 2016) during the prior calendar year to offer health plan coverage to their full-time employees or pay a penalty.
The Affordable Care Act (ACA) does not require California employers with fewer than 100 employees to provide health insurance. Employers do however, become responsible for complying with many of the provisions of the ACA when they elect to offer health insurance to their employees.The information on the following pages will help employers determine which provisions their plans will adopt once they transition to ACA-compliant plans.