Posts Tagged ‘Affordable Care Act’

Peeling Back The Onion: Answering 3 Popular Obamacare Questions

Thursday, December 12th, 2013

As Obamacare becomes more and more of a reality to individuals, I’m being asked lots of questions. In the past few weeks, I received three questions that I’m finding are common concerns among the people I’ve talked with. I wanted to share these questions and provide some insight into each. So let me peel back the Obamacare “onion” and help you better understand how you may be impacted or what options you have available to you.  (more…)

Will There Be Changes To The Small Business Health Care Credit?

Friday, December 6th, 2013

Has your business enjoyed the small business health care credit for the last few years? Well, get ready because changes are coming in 2014.  (more…)

Should I Be Worried About the New 3.8 Percent Medicare Surtax?

Thursday, October 10th, 2013

Obamacare is a complex piece of legislation. And in a recent ABC News/Washington Post poll, 62 percent of Americans said they lack information they need to understand Obamacare and how it will impact them.  (more…)

What’s The IRS Up To During The Government Shutdown?

Tuesday, October 1st, 2013

We’ve read for weeks that a government shutdown was possible, but at 12 a.m. this morning, it happened. It has been 17 years since the last government shutdown, and you, along with the rest of the American people, are probably wondering how the shutdown will impact their lives. Fortunately, last week the Internal Revenue Service published “FY 2014 Shutdown Contingency Plan (During Lapsed Appropriations) Non-Filing Season,” a set of guidelines that explains what will go on at the IRS during a shutdown.  (more…)

Are You Prepared For The Obamacare Deadline On Insurance Marketplace Availability?

Tuesday, September 10th, 2013

The next Obamacare requirement deadline is right around the corner— are you ready? If you’re an employer, the Fair Labor Standards Act (FLSA) requires you to provide copies of one of the following insurance notices to all of your employees:

You must provide these insurance marketplace availability notices to your employees by Oct. 1, 2013.   (more…)

How Will ACA Federal Exchange Premiums Affect Ohio Small Businesses and Consumers?

Friday, August 16th, 2013

By now, you’ve been hearing a ton about the Affordable Care Act (yes, even from us), and you may be getting tired of all this news. However, it’s critical for you and your business to stay up-to-date on what is changing and what is being decided as it relates to the ACA. The Ohio Department of Insurance (DOI) recently announced in a press release that if you’re an individual consumer who chooses to buy health insurance through the federal government’s insurance exchange, you’ll be paying approximately 41 percent more than what you paid in 2013. And if you’re a business owner, you’ll see somewhere in the ballpark of an 18 percent increase.  (more…)

Some PCORI Fees Due This Wednesday – Do You Owe?

Monday, July 29th, 2013

And so it continues… the next deadline in a long list of fee deadlines for the Affordable Healthcare Act is fast approaching. If you are a business that is self-insured for health care (this includes Health Reimbursement Arrangements/Accounts), and if you had a plan year end on or between Oct. 1, 2012 and Dec. 31, 2012, then you have a new fee to pay by this Wednesday, July 31, 2013. Calendar year plans are included in this because their end date would have been Dec. 31, 2012.
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What Should You Be Prepared For Now With the ACA?

Tuesday, July 9th, 2013

By now you have probably heard about the one-year delay to certain aspects of the Affordable Care Act (ACA).  But beware!  The other elements of the law are going into effect soon and there is one that may have sneaked past you – a new filing and fee due July 31, 2013.  (more…)

With the Affordable Care Act “pay or play” provision delayed, I don’t have to do anything before 2015, right? Wrong!

Wednesday, July 3rd, 2013

If you had more time to prepare for something that could have a huge impact on your business, would you take advantage of that extra time? If you answered no, then you might want to think again.  (more…)

Why might the delay in the Affordable Care Act be better news than you think?

Wednesday, July 3rd, 2013

This week, President Obama and the Department of the Treasury announced that several key elements of the Affordable Care Act (ACA) will be delayed until 2015.  Specifically, the “pay or play” provision, or employer mandate to provide essential minimum coverage that is both affordable and minimum value. In addition, the employer informational reporting requirement has also been delayed until 2015. The administration cited stakeholder concerns and difficulties in implementing smoothly as reasons for the delay.  (more…)

How Will Health Care Reform Impact Small Employers & the Labor Market?

Wednesday, April 10th, 2013

As you have probably heard by now, starting Jan. 1, 2014, you will have to comply with the “pay or play” guidelines of the Affordable Care Act (ACA) if you have more than 50 employees. If you have anywhere near 50 or more employees, hopefully you are looking at the requirements and considering your options. If you have less than 50 employees, you may jump to the conclusion that the ACA will not impact you. Not so fast… (more…)

How Much Will Health Care Reform Cost Your Business?

Wednesday, March 13th, 2013

If you’re like most business owners, health care reform has you running scared. You’re worried about how much it will cost you – and if your business can survive the burden.

You’ve heard about the employer mandate and the potential fines for not complying with it. But, that’s all in the abstract. No one has told you what it will cost your business – and what you can do to mitigate that cost. (more…)

What Does the Medicate Surtax Mean for Employers?

Friday, September 14th, 2012

Even though the Supreme Court’s decision was a few months ago at this point, healthcare reform is still getting a lot of coverage in the media.  Individuals and business owners are still trying to get their hands around what it will mean for them and what they’ll have to do to comply with the new law.

Most discussions about how healthcare reform will impact taxes have centered on the so called “Individual Mandate.”  But, health care reform will lead to other tax changes, too.  One such tax chance is the addition of a .9% Medicare tax surcharge. (more…)

Do You Need to Report Health Care Benefits on W-2s?

Thursday, July 26th, 2012

“Obama Care is terrible!”  “Health care reform is great!”  Depending on your political stripes, you may have differing views on the Affordable Care Act.  Regardless of whether you love it or hate it, health care reform will impact your business in the years to come.  (more…)

Healthcare Reform and W-2 Reporting

Wednesday, June 6th, 2012

Healthcare Reform’s Impact on Employers

The Affordable Care Act (Healthcare Reform) put into law a number of provisions which impact employers. These provisions are being rolled out slowly over the next few years. One provision that’s new for 2012, regarding W-2 reporting of health insurance costs, applies only to large employers. As this provision is likely to get a lot of attention in 2012, it’s important to know, up front, if your business is required to comply. (more…)