ACA, DOL Legal and Compliance Updates
The Workers’ Compensation Board released 3 new Paid Family Leave (PFL) forms.
I have reviewed the forms and am providing details of each below along with a link to download each form. We continue to monitor both the Workers’ Compensation Board and Department of Financial Services website daily so we can bring you up to the minute information.
Your PCORI fee is due by July 31, 2018
On October 5, 2017 the Internal Revenue Service issued Notice 2017-61 increasing the PCORI fee from $2.26 to $2.39 effective for plan years ending on or after October 1, 2017 and before October 1, 2018.
The Employee Notice of Exchange OMB1210-0149 is available
A model notice for employers to use to inform employees of the availability of the Exchange and plan information on minimum value standards and affordability is available. The updated notice has an expiration date of May 31, 2020
Final 2017 IRS Forms 1094-C and 1095-C released
The IRS issued final 2017 ACA Reporting forms 1094-C Employer Transmittal and 1095-C Offer of Coverage. Final instructions were released October 4th and there were no substantive changes.
The anticipation is over, the Paid Family Leave rate has been released!
On June 1st, the Department of Financial Services released that the rate shall be Community Rated.
“As provided by Insurance Law 4235(n)(1), The Superintendent of the Department of Financial Services (“DFS”), in consultation with the Chair of the Workers’ Compensation Board, has determined that paid family leave benefits coverage issued pursuant to Article 9 of the Worker’s Compensation Law (“Family Leave Benefits”) shall be community rated. Community rating ensures that all employers are similarly treated and are not subject to cost variations based upon age, gender, geographic location, or any other demographic factor.”
American Health Care Act
The AHCA passed Thursday May 4, with 217 votes (216 needed).
Attached for your reading pleasure, should you so choose, is the Section by Section review of the Ways and Means Committee and includes the amendments from the Energy and Commerce Committee.
The bill now goes to the Senate. What will happen in the Senate with the bill is undetermined but the thought is the bill presented by the House will look nothing like what will come out of the Senate.
The timing for the Senate review is unknown but is widely thought to be a long and tedious several months ahead.
House Health Committees Advance GOP’s ACA Repeal/Replace Bill
While in Washington last week participating in the ECFC conference, I attended the House Ways & Means mark-up into the early morning Thursday and the Energy & Commerce mark-up Thursday afternoon. The Committees advanced their respective pieces of Fiscal Year 2017 budget reconciliation legislation, which repeals and replaces the Affordable Care Act (ACA).
There is much uncertainty on the path forward, we will be watching developments and I will be back in Washington in April.
-Lisa Allen, VP Regulatory Affairs
Subject: Individual Tax Returns
Healthcare coverage on your taxes? Now optional!
The health law’s individual mandate requires everyone to either maintain qualifying health coverage or pay a tax penalty, known as a “shared responsibility payment.” The IRS was set to require filers to indicate whether they had maintained coverage in 2016 or paid the penalty by filling out line 61 on their form 1040s. Alternatively, they could claim exemption11 from the mandate by filing a form 8965.