ACA COMPLIANCE - Affordability Percentages Will Increase for 2019

    Posted by Soules Insurance on Tue, Jun 5, 2018

    On May 21, 2018, the Internal Revenue Service (IRS) issued Revenue Procedure 2018-34 to index the contribution percentages in 2019 for purposes of determining affordability of an employer’s plan under the Affordable Care Act (ACA). 

    For plan years beginning in 2019, employer-sponsored coverage will be considered affordable if the employee’s required contribution for self-only coverage does not exceed:

    • 9.86 percent of the employee’s household income for the year, for purposes of both the pay or play rules and premium tax credit eligibility and
    • 8.3 percent of the employee’s household income for the year, for purposes of an individual mandate exemption (adjusted under separate guidance).
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    Tags: Health Insurance, Employers, Obamacare, ACA, Employees, ACA Compliance, Affordability Percentages, Percentage Increase

    Trump Outlines Timescale for Obamacare Replacement

    Posted by Soules Insurance on Tue, Feb 7, 2017

    President Donald Trump said the process for coming up with a replacement for the Affordable Care Act could stretch into 2018, a longer time frame than he previously indicated.

    Trump’s comments came in an interview with Fox News’ Bill O’Reilly that aired on Sunday during the Super Bowl pregame show. O’Reilly asked the president whether he would introduce a health plan this year to replace Obamacare, which Trump has long vowed to quickly repeal as one of his top priorities.

    “Maybe it’ll take till some time into next year, but we are certainly going to be in the process,” Trump said in the interview. “I would like to say by the end of the year, at least the rudiments, but we should have something within the year and the following year.”

    Continue reading for more on the possible changes to Obamacare legislation:

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    Tags: Obamacare, Healthcare Legislation, ACA, Trump

    With GOP repeal initiations underway, brokers anticipate ACA replacement

    Posted by Soules Insurance on Fri, Jan 13, 2017

    Despite action this week to begin repealing the Affordable Care Act, questions remain over whether the Republicans in Congress can both repeal the ACA and replace it with their own alternative by the end of February — without creating a gap in health coverage for Obamacare’s roughly 20 million participants.

    “Having plan and executing on the plan are two very different statements. [President-elect Donald Trump] says he wants to have a plan by the end of February and I think the assumption is what the timetable of the rollout will be to get that done,” says Perry Braun, executive director of Benefit Advisors Network.

    The Republican-led U.S. Senate took its first steps to repealing the ACA by voting to remove funding from the health insurance law. The vote — 51 to 48 — was mostly along party lines. Sen. Rand Paul (R-Ky.) voted against the measure due to concerns that Republicans have not settled on a plan to replace the ACA. (Democratic Senator Barbara Feinstein (Calf.) did not vote as she was recovering from surgery.)

    The House of Representatives will vote on the measure today.

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    Tags: Obamacare, ACA, Healthcare-related Legislation

    What Lies Ahead for Obamacare in Trump's Administration

    Posted by Soules Insurance on Fri, Dec 2, 2016

    President-elect Donald Trump has promised over and over in recent months that he will repeal and replace the Affordable Care Act, also called Obamacare, when he reaches the White House.

    "Obamacare is a disaster. You know it. We all know it," Trump said at a debate last month. "We have to repeal it and replace it with something absolutely much less expensive."

    Now that Trump will move into the Oval Office in January, the question is whether he'll be able to completely repeal the six-year-old law that has had an impact on every aspect of the U.S. health care system.

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    Tags: Obamacare, Health Care Law Repeal, Affordable Care Act, Congress, Donald Trump