These days change and added regulations are happening at a rapid pace and at Diversified Group, we’re here to help our client employers avoid confusion. That being said, here are a few words of advice we can give that may help you… Don’t Tolerate a Sky-High Renewal – Planning can come to a halt when [...]
Employers with 50 or more employees are required to provide their full-time workers with access to Minimal Essential Coverage under the Affordable Care Act (ACA). The mandate is intended to ensure that employees have the opportunity to enroll in an employer-sponsored plan that is both affordable AND comprehensive. The government has established two tests to [...]
The Affordable Care Act (ACA) continues to have a major impact on ongoing overhead costs – with associated expenses expected to rise more than a quarter of a trillion dollars between 2014 and 2022. These are costs that are over and above anticipated administrative expenses had ObamaCare not been enacted. Where is this money going? [...]
One of the mandates of the Affordable Care Act is that employers pay a 40% excise tax on the value of high-cost health plans – the ‘Cadillac Tax’. Scheduled for implementation beginning 2018, the tax is calculated as 40% of the excess of total per employee per year (PEPY) health care costs above threshold limits [...]
Beginning in January 2016 for the 2015 calendar year, the Affordable Care Act requires information reporting on minimum essential coverage. For fully-insured plans, insurance carriers are responsible for the reporting. For self-insured plans, employers, regardless of size, are responsible for the reporting. Applicable large employers (ALEs), employers who average 50 or more full-time and full-time [...]
Supreme Court Upholds Health Law Subsidies In a decision rendered earlier today, the U.S. Supreme Court ruled that contested language in the Affordable Care Act allows the administration to offer premium subsidies in the form of tax credits to people in all states. This includes states that have not launched their own exchange. Since tax [...]
Taking ownership of 6055 & 6056 reporting requirements under ACA. If you offer your employees a generous health care plan, you could be subject to the ‘Cadillac Tax’. Even if your plan only meets minimum essential coverage requirements, you still must file reports to the IRS detailing the coverage you provide, and to whom – [...]
May 24, 2013 – Diversified Administration Corporation – Compliance Alert Department of Labor Releases Exchange Notice & New Model COBRA Notice Department of Labor Releases Exchange Notice By David Follansbee The Affordable Care Act requires that employers must provide each employee a written notice at the time of hiring that explains their rights to enroll [...]
