Sweating the ACA Details
Summertime should be an opportunity to kick back a bit, bask in the sunshine, and enjoy some outdoor cooking (food, that is…please don’t cook yourself while basking in the sunshine!). Many of us who have been dealing with the Affordable Care Act (ACA) were hoping to get a well-deserved break during these longest days of the year. But, it might be wise to utilize a few idle moments thinking about some of the recent developments around Obamacare and how you can hit the ground running when you’re ready to get back to it. I hope you can do that thinking with beautiful scenery surrounding you, at least!
Before going on their summer vacation, the IRS put out more guidance you’ll have to consider when it comes to determining the affordability criteria for your health plan offering. Affordability is definitely the “hot” topic in ACA circles this summer and employers will want to be sure they understand how their contribution structures impact the cost of their plans in the eyes of those regulations. The new guidance clarifies that a higher percentage threshold applies to meet the affordability requirement to avoid potential penalties. Additionally, it outlines important considerations about cash-in-lieu and flex credit plans you’ll want to look at carefully.
We’ve made it easy for you to catch up on the latest ACA news that you can access anywhere you can get a Wi-Fi signal. It might not be the summer blockbuster you were planning to see in a theater near you, but our webinar on the Affordable Care Act: Taking Stock and Looking Ahead to 2017 is an hour well spent. Find out how the newest rules will affect your employee health benefits as you gear up for enrollment time. Check out the lessons learned from the first round of IRS reporting, what you can expect to receive in the mail from the Health Insurance Exchanges and the IRS, and about a half-dozen other items that are sure to make the ACA more thrilling this fall.
We wish you a fun and relaxing summer, but we don’t want you to miss any of these important ACA compliance issues. That’s why we’re working hard during these sultry days, “sweating the details” about the ACA, and helping you to be prepared.
About Regina Horton
Regina Horton is Legal Counsel at Keenan and actually spends much of the year working on the Affordable Care Act. In addition to presenting webinars and speaking at industry conferences, Regina authors many of our technical Briefings relating to the ACA and other employee benefit regulations.