Affordability Safe Harbors – Tax Year 2019

Determining the affordability of the health coverage offered to your full-time employees and their dependents can be a bit complex. To put it simply, provided coverage is considered affordable if the premium constitutes less than 9.86% of the household income of an eligible employee for plans starting in 2019.

Since household income can be difficult to determine, due to factors such as spousal or secondary income, the IRS offers three safe harbor options to assist in determining affordability: Continue reading Affordability Safe Harbors – Tax Year 2019

Affordability Safe Harbors – Tax Year 2018

Determining the affordability of the health coverage offered to your full-time employees and their dependents can be a bit complex. To put it simply, provided coverage is considered affordable if the premium constitutes less than 9.69% of the household income of an eligible employee.

Since household income can be difficult to determine, due to factors such as spousal or secondary income, the IRS offers three safe harbor options to assist in determining affordability: Continue reading Affordability Safe Harbors – Tax Year 2018

Now Required: D.C. ACA Filing for Tax Year 2019

D.C. ACA Filing

D.C. now requires ACA filing for the 2019 tax year. The District of Columbia will now require all District residents to have Minimum Essential Coverage for themselves and dependents, or pay a tax penalty. The D.C. law also requires employers to submit an information return regarding Minimum Essential Coverage to the D.C. Office of Tax and Revenue. Continue reading to learn more about updates to D.C. ACA Filing.

Continue reading Now Required: D.C. ACA Filing for Tax Year 2019