In enacting the Further Consolidated Appropriations Act, 2020, (the “Act”), Congress, among other changes, enacted the following key changes affecting employer group health plans: Repeal of the Cadillac Tax: Most notably, and a huge relief to most employers, Congress repealed the Cadillac tax. The Affordable Care Act (“ACA”) added a requirement requiring employers to pay […]
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Section 4980I, which was added to the Internal Revenue Code by the Affordable Care Act, was originally supposed to take effect in 2018. This tax is commonly called the “Cadillac tax” because it imposes a 40% excise tax on high cost employer sponsored health coverage. The Consolidated Appropriations Act signed into law on December 18, […]
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As a reminder, effective January 1, 2016, employers must offer minimum essential coverage to 95% or more (up from 70% or more for 2015) of their full-time employees and their dependents each month or pay a very steep penalty. Missing the mark even slightly, for example coming in at 94%, will require the employer to […]
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