August 2 Update: IRS Requests Comments On Cadillac Tax
A modification to the ACA. Section 4007(a) of H.R.3236 , the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, signed into law by the President on July 31, 2015, provides that, solely for the purpose of determining whether an employee is a large employer for application of the employer mandate, an employee will not be counted toward the 50-employee threshold for a month in which the employee has medical care through the military, including Tricare, or Veterans’ coverage. Although a number of modifications to the ACA are now being debated in Congress, this is the only one to make it into law so far.
Processing individual responsibility requirement exemption requests. On July 31, CMS also released a frequently asked questions guidance regarding the processing of individual responsibility requirement exemption requests by HHS for state-based marketplaces (SBMs). SBMs are permitted under federal regulations to process exemption applications themselves. Beginning in 2014, however, HHS offered to process exemption requests on a temporary basis for SBMs that requested assistance. HHS has now decided to make this opportunity available permanently to states that agree to cooperate with HHS and accept HHS’s determinations. States that want to may still process exemption applications themselves instead, using either paper or electronic processes.
Read the full report here.
Contact Steven G. Cosby, MHSA, Group Health Insurance Broker and Agent with Cosby Insurance Group, with questions or to request more information and to schedule a healthcare plan evaluation, savings analysis or group plan solution for your company.