The IRS is penalizing universities for providing healthcare to student employees, and it’s hurting the very people the Affordable Care Act was supposed to help.
In June Forbes reported that under new IRS regulations, starting in July 2015, small businesses and universities that reimburse employees healthcare premiums or pay their health costs directly will be fined up to $36,500 a year per employee. A penalty that is 18 times greater than the $2000.00 employer mandate.
If the Supreme Court had ruled in favor of the plaintiff in King v. Burwell (AIS Alert, 6/25/15), there was optimism among some employers that certain provisions of the Affordable Care Act (ACA) would crumble. With the law now more firmly in place, more employers are looking to private exchanges as a possible strategy to help sidestep the so-called Cadillac tax, which is slated to go into effect in 2018.
The Internal Revenue Service and the Department of Treasury are seeking comments on several unanswered questions about the impending Cadillac tax, including what constitutes employer-sponsored coverage and different approaches for determining the cost of applicable coverage.
In December 2009, President Barack Obama directed the Department of Health and Human Services, acting through the Centers for Medicare and Medicaid Services (CMS), to implement a three-year demonstration intended to support the transformation of federally qualified health centers (FQHCs) into advanced primary care practices (APCPs) in support of Medicare beneficiaries.
Hey, employers, don’t even think about reimbursing your workers’ health-insurance premiums.
Beginning this month, the IRS can levy fines amounting to $100 per worker per day or $36,500 per worker per year, with a maximum of $500,000 per firm.
Small-business owners are descending on Washington this week to lobby Congress to roll back an ObamaCare rule that could hit companies with thousands of dollars’ worth of penalties.
About 150 small-business owners, organized by the National Federation of Independent Business (NFIB), will head to Capitol Hill on Thursday to make the case to members from their states on legislation that would change the rule.
Some analysts who have looked at health insurers’ proposed premiums for next year predict major increases for policies sold on state and federal health exchanges. Others say it’s too soon to tell. One thing is clear: There’s a battle brewing behind the scenes to keep plans affordable for consumers.
It's getting more expensive to be an employer and small business owners say that's making it harder for them to make money.
The health care law, minimum wage increases and paid sick leave laws in some states and cities are increasing costs. Small companies also face the prospect of higher overtime expenses under a proposed federal regulation.
Everybody knows if you don’t pay to repair your car, you limit its life.
The same is true with people. We need medical care to avoid becoming clunkers.
For a half-century, Medicare has enabled seniors to get that care. But now the Obama administration is pressuring hospitals to skimp.