Top Affordable Care Act Updates from  HR360

• Top 4 Changes to Pay or Play for 2016: Transition relief has expired, the “affordable” threshold has increased to 9.66% of household income, and health insurance must be offered to at least 95% of eligible employees. Penalty amounts have also increased.
• Proposed OOP maximums for 2018 released: There is a new proposed annual limit of $7,350 for out-of-pocket expenses on self-only coverage, or $14,700 for other than self-only coverage in 2018.
• IRS Releases 2016 Draft Instructions for Forms 1094-B and 1095-B: In addition to draft instructions, updates to filing penalties are listed including the elimination of “good faith” reporting.

Making sure your organization is current on ACA requirements can be burdensome. Contact Nonstop today to see how your company can ensure accuracy and thorough compliance.