Entries for June 2018

The IRS recently released Notice 2018-17 that permits small employers to claim the small business tax credit for non-marketplace coverage if there are no options available on the small business health options (SHOP) marketplace. The notice applies for 2017 and beyond and verifies that the employer's plan must meet the requirements for the tax credit in place prior to 2014. Business Benefits has been advocating for this change for several years. The tax credit ... Read more
In a recent Notice the IRS announced the adjusted percentage that will be used to determine whether employees' share of their 2019 premiums are considered affordable for purposes of the employer mandate. Applicable Large Employers, for the 2019 plan year, will need to apply the decreased threshold of 9.86%  to any of three "safe harbors:" •             W-2 wages •     &... Read more
Once again CMS and HHS will allow small employers and individual health plans another year extension of transitional (grand-mothered) coverage.  Transitional relief allows employers to continue to use their health plans that don't meet requirements of the Affordable Care Act.  If employers switch carriers or switch to a community rated plan, their transitional relief ends and they can no longer use their previous plan.  The new CMS extension allows transi... Read more