IRS Finalizes Deadline Extension for Furnishing ACA Statements

The IRS released a final rule that extends the annual furnishing deadlines for Sections 6055 and 6056 reporting under the Affordable Care Act (ACA). This rule finalizes guidance that was proposed by the IRS in December 2021. Due to the deadline extension, employers subject to ACA reporting have until March 2, 2023 to furnish statements for the 2022 calendar year. Read more…

 

 

 

 

ACA 2023 Compliance Checklist

The Affordable Care Act (ACA) made a number of significant reforms to group health plan coverage when it was enacted in 2010. Since then, changes have been made to various requirements that employers should be aware of and some of those will take effect in 2023. To prepare, employers should review these requirements and develop a compliance strategy. Read more…

 

 

 

 

PCORI Fee Amount Adjusted for 2023

The Internal Revenue Service (IRS) has increased the Patient-Centered Outcomes Research Institute (PCORI) fee amount for plan years ending on or after Oct. 1, 2022, and before Oct. 1, 2023. The updated PCORI fee amount is $3.00 multiplied by the average number of lives covered under the plan. Read more…