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Henry Ford once said, “quality means doing it right when no one is looking.” The same applies for your business in matters of compliance. With the IRS beginning audits of Applicable Large Employers (ALEs), and reporting penalties in the millions, it is important to understand the facts and next steps.
Letter 226J
This letter is being sent out to ALEs that the IRS believes were not in compliance with the Affordable Care Act (ACA). It addresses penalties associated with forms filed in 2015. These penalties are also known as Employer-Shared Responsibility Payments (ESRPs) or the “pay or play” penalties. While a…
As a business owner, executive or human resources professional, you are obligated to be well-informed when it comes to employment law at the federal, state and local levels. This is not an easy task. Even when the Presidential Administration remains constant for an eight-year period, it can feel like a roller coaster ride adapting to regulation changes already in effect and preparing for new legislation being rolled out.
Now, with the 2016 election behind us, we need to prepare for a Presidential administration that will likely bring significant change to the world of employment law. Here are some insights related…
By:
Kevin Davis, Vice President & Senior Employee Benefits Consultant, Univest Insurance, LLC November 29, 2016
As a benefits consultant who has worked in the health insurance industry for more than twenty years, representing dozens of companies of all sizes, the discussion about what is next for healthcare reform both frustrates and intrigues me. We have an opportunity to make meaningful, cost-effective changes that are needed for all Americans, regardless of affiliations or preferences.
Here’s what we know. Under the Affordable Care Act (ACA), Americans have struggled to afford their health care costs, access insurance that meets their needs, and see the doctor they know and like. Insurance premiums have risen 65% since 2010 and insurers…
