4th quarter
IRS Confirms ACA Pay or Play Penalties Still Apply
No Waiver or Transition Relief is Currently Available
Recently, the IRS released an information letter regarding the Affordable Care Act's employer shared responsibility (pay or play) penalties. The information letter is intended to clarify the applicability of the penalties in light of President Trump's 2017 executive order broadly directing federal agencies to waive, delay or grant exemptions from ACA requirements that may impose a financial burden.
For the information letter, click the photo above & request it.
Dates & Deadlines for 2020 Health Insurance
Important: 2020 Open Enrollment is only a few weeks
The 2020 Open Enrollment Period runs from
Friday, November 1 to Sunday, December 15, 2019.
If you don’t act by December 15, you can’t get 2020 coverage unless you qualify for a Special Enrollment Period. Plans sold during Open Enrollment start January 1, 2020.
For a compliance check up click here:
https://afoainsurance.com/contact-us/ola/services/compliance-analysis
Creditable Coverage Disclosure Deadline
Medicare Modernization Act (MMA)
Employers are required to provide a Medicare Part D disclosure notice to their Medicare-eligible employees by October 14th of
each year.
Please note, this is only required for any employee and dependents that are Medicare eligible but because it may be difficult to identify all Medicare Part D participants in the group health plan, it may be prudent to provide the disclosure to all plan participants annually, prior to October 15th as well as to all new hires prior to initial enrollment in the group health plan.