Affordable Care Act Individual Mandate Update | Virginia Benefit Agency

Recently, the President signed a bill repealing the Affordable Care Act’s Individual Mandate (the tax penalty imposed on individuals who are not enrolled in health insurance). While some are praising this action, there are others who are concerned with its aftermath. So how does this affect you and why should you pay attention to this … Continued

Health Plan PCORI Fees Are Due July 31 | Virginia Employee Benefits

Do you offer coverage to your employees through a self-insured group health plan? Do you sponsor a Health Reimbursement Arrangement (HRA)? If so, do you know whether your plan or HRA is subject to the annual Patient-Centered Research Outcomes Institute (PCORI) fee? This article answers frequently-asked questions about the PCORI fee, which plans are affected, … Continued

IRS Releases Final 2017 ACA Reporting Forms and Instructions | VA Benefit Advisors

The IRS has finalized the forms and instructions that employers will use for 2017 reporting under the Affordable Care Act (ACA). Applicable large employers (ALEs) will use the following: 2017 Form 1094-C (transmittal to IRS). 2017 Form 1095-C (statement to individual). 2017 Instructions for Forms 1094-C and 1095-C (instructions). Employers that self-fund a minimum essential … Continued

IRS Releases Drafts of 2017 Forms 1094 and 1095 | Virginia Benefit Advisors

The IRS has released drafts of the forms and instructions that employers will use for 2017 reporting under the Affordable Care Act (ACA). It is expected that when the IRS releases final versions, the material will be virtually identical to the drafts. Applicable large employers (ALEs) will use the following: Draft 2017 Form 1094-C (transmittal … Continued

Senate Fails to Pass Any Changes to the ACA | Virginia Benefit Advisors

In the early morning hours of July 28, 2017, the Senate’s leadership failed in its latest attempt to pass a bill—any bill—to repeal the Affordable Care Act (ACA). Capping off weeks of divergent proposals, and various procedural moves to avoid the normal committee process, the last measure was defeated 49 – 51. What happens now? … Continued