Avoiding ACA A & B Tax Penalties: A 2024 Guide for Large Employers Avoiding ACA A&B tax penalties for both large employers and small employers, understanding ACA tax implications and ensuring compliance with regulations is critically important. The ACA imposes penalties
No Lifetime or Annual Limits in a health plan required to be ACA Compliant Are No Lifetime or Annual Limits Required for ACA Compliance in individual, employer or association health plans? Remaining ACA compliant is crucial for individual, employer group health
A Review of the Rules and the Potential Penalties The Internal Revenue Service (IRS) and Department of Labor (DOL) laws establish guidelines for large employer groups regarding healthcare. Employers with 50 or more full-time employees must offer affordable, minimum essential health
Mental Health Parity and Addiction Equity Act (MHPAEA) Employer or association health plans must comply with MHPAEA to ensure fair coverage for mental health and substance use disorders. This rule requires plans to offer mental health and substance use benefits equal
ACA Non-Discrimination Compliance Ensuring compliance with ACA non-discrimination rules is crucial for employers and associations to maintain ACA-compliant health plans. These rules specifically prevent discrimination in group health plans based on age, gender, or health status. Therefore, employers and associations must
ERISA Reporting Requirements Employer or association health plans must follow ERISA’s Reporting and Disclosure Requirements to stay compliant with the ACA. These requirements promote transparency and protect plan participants’ interests across all benefit offerings. To remain compliant, employers and associations should
ERISA Fiduciary Responsibilities Employer or association health plans must meet ERISA fiduciary responsibilities to protect participants’ interests. These responsibilities ensure proper group health plan management. Moreover, to remain ACA compliant, employers must address key items and potential challenges. Therefore, Enrollment First,
ERISA Reporting and Disclosure Under the Employee Retirement Income Security Act (ERISA), employers must follow several health plan regulations and compliance rules. These regulations require employers to offer health plans that meet comprehensive and compliant standards. For example, small businesses and
Affordable Care Act Compliance (ACA) Remaining ACA compliant requires individual, employer, and association health plans to meet all preventive service coverage rules. Importantly, preventive services play a key role in meeting ACA standards for both individual and group health plans. Therefore,
Affordable Care Act Coverage Requirements To stay ACA compliant, individual, employer group, and association health plans must focus on key compliance requirements. One critical factor involves understanding the requirement to offer essential health benefits. However, not all essential health benefits may
