United Benefit Advisors Insight and Analysis Blog

Understanding Clients’ IRS Play-or-Pay Penalty Assessment Letter

Posted by: Danielle Capilla    Apr 26, 2018 4:46:07 PM

Recently, clients may have contacted you with questions about Letter 226-J, which they would have received from the Internal Revenue Service (IRS) during or after the end of 2017. These letters stated that your clients might owe money, either because the IRS didn’t offer health coverage to enough of its full-time employees, or because the health coverage that it did offer wasn’t affordable (or minimum value).

Read More

Topics: Compliance Advisor, benefits compliance, health insurance policy, Health Coverage Tax Credit, tax law, ACA penalties, play or pay requirements

Trade Bill Increases ACA Reporting Penalties; Reinstates Tax Credit

Posted by: Danielle Capilla    Aug 13, 2015 12:00:00 PM

Most employers are familiar with the penalties assessed to applicable large employers that fail to offer minimum essential coverage that is minimum value and affordable. In addition to being required to offer coverage, employers (all applicable large employers, and all employers with self-funded plans regardless of size) are required to complete IRS reporting forms under sections 6055 and 6056 of the Patient Protection and Affordable Care Act (ACA).

Read More

Topics: IRS Reporting Rules, Affordable Care Act, Trade Preferences Extension Act of 2015, Health Coverage Tax Credit