compliance

Supreme Court Upholds the Affordable Care Act

On June 17, 2021, the U.S. Supreme Court upheld the constitutionality of the Patient Protection and Affordable Care Act (ACA) by a 7-to-2 vote. The Court heard oral arguments in the case, California v. Texas, on November 10, 2020, which was a consolidation of 20 cases filed by state attorneys ...

Compliance Reminder | PCORI Fee Notice

This is a reminder that the Patient-Centered Outcomes Research Institute (PCORI) fee imposed by the Patient Protection and Affordable Care Act (PPACA) on your health plan is due by 07/31/21.  The fee is due by July 31st of the year following the end of the plan year.  The following chart will ...

Compliance Recap | May 2021

May 2021 was a somewhat busy month in the benefits industry. The absence of a significant of amount of agency guidance during the summer months is to be expected. However, the IRS finally issued guidance on the temporary 100% COBRA subsidy mandated by the American Plan Rescue Act of 2021 (the ...

IRS Draft Form 941 Reflects COBRA Subsidy Tax Credit

The IRS recently released a draft of the revised 2021 version of Form 941, Employer’s Quarterly Federal Tax Return, in order to, in part, reflect the tax credit in connection with the 100% COBRA subsidy under the American Rescue Plan Act (ARP). The COBRA subsidy is required to be provided to ...

BCBSA Antitrust Settlement Classes Eligible for Proceeds

June 7, 2021 November 5, 2021 is the deadline for filing a claim in connection with the Blue Cross Blue Shield Association (BCBSA) $2.67 billion settlement reached in October 2020. The class action lawsuit was filed more than eight years ago by subscribers seeking injunctive and compensatory ...

IRS Guidance on Reduction in Hours for COBRA Subsidy Eligibility

May 26, 2021 The IRS recently issued IRS Notice 2021-31 in the form of FAQs, which provides extensive guidance on the COBRA subsidy under the American Rescue Plan Act of 2021 (ARP). Previously, the Department of Labor (DOL), in consultation with the Department of Treasury and the IRS, issued ...

IRS Guidance on Involuntary Termination for COBRA Subsidy Eligibility

On May 18, 2021, the IRS issued IRS Notice 2021-31 in the form of FAQs, which provides extensive guidance on the COBRA subsidy under the American Rescue Plan Act of 2021 (ARP). Previously, the Department of Labor (DOL), in consultation with the Department of the Treasury and the IRS, issued ...

2021 Patient-Centered Outcomes Research Institute (PCORI) Fee

The Patient-Centered Outcomes Research Institute (PCORI) fee deadline is around the corner. In Notice 2020-84, the IRS adjusted the applicable dollar amount to be multiplied by the average number of covered lives for purposes of calculating the fee for policy years and plan years that end on or ...

Advance Availability of the Increased Child Tax Credit

The American Rescue Plan Act (ARP) is most notable for the COBRA subsidy but also provides relief for taxpayers with children. The ARP increased the maximum Child Tax Credit (CTC) and also allowed taxpayers to receive an advance of the CTC. For 2021, the CTC is increased to $3,600 for children ...

Compliance Recap | April 2021

April was a busy month in the benefits industry, largely due to the temporary 100% COBRA subsidy mandated by the American Plan Rescue Act of 2021 (the ARP). The Departments of Labor, Treasury and Health and Human Services (the Departments) jointly issued FAQs regarding the amendments to the ...