The New Year is upon us and although many organizations will remain in a 2015 state-of-mind with regard to tax returns, it is imperative that planning for changes to the ACA in 2016 be happening simultaneously. Below is a brief run-down on what businesses can expect to shift for them in the next 12 months:
To learn more about the new ACA penalties, download
The Nonstop Guide to ACA Penalties for the 2015 Tax Year
In addition, 2016 marks an election year, which will bring its own set of proposals for changes to the ACA. Specifically the Cadillac plan is front-and-center in the healthcare debate, with calls to eliminate it all together. And although experts doubt a full repeal of the ACA is a possibility at this point, some presidential contenders are proposing significant reforms. While none of these proposed changes would go into effect in 2016, it is worth noting how any and all may impact your organization.
The information and materials herein are provided for general information purposes only and are not intended to constitute legal or other advice or opinions on any specific matters and are not intended to replace the advice of a qualified attorney, plan provider or other professional advisor. This information has been taken from sources believed to be reliable, but there is no guarantee as to its accuracy. In accordance with IRS Circular 230, this communication is not intended or written to be used, and cannot be used as or considered a ‘covered opinion’ or other written tax advice and should not be relied upon for any purpose other than its intended purpose