Beginning next month, every American who files a Form 1040 tax return will have to check a box indicating whether or not they have health coverage.
The Affordable Care Act does not require businesses to provide health benefits to their workers, but larger employers face penalties starting in 2014 if they don't make affordable coverage available. This simple flowchart illustrates how those employer responsibilities work.
The employer notice requirement under the Affordable Care Act, the U.S. Department of Labor has stated that there will be no penalty for employers that fail to provide these notices to their employees.
The Affordable Care Act will reduce the number of people without health insurance by expanding eligibility for Medicaid and providing tax credits that make insurance more affordable for people buying coverage on their own through new health insurance Exchanges. The Congressional Budget Office projects that 32 million more people will have insurance by 2019. Find out who gets covered and how with this simple flowchart, created as part of the Visualizing Health Policy series with The Journal of the American Medical Association.
Get this exclusive Alpha Business Brief comparing provisions of the Massachusetts Health Care Reform Plan to the Federal (PPACA) requirements in one concise document.
The Obama administration announced Monday that it will delay implementation of part of the Affordable Care Act's employer mandate for the second consecutive year.
The U.S. Department of the Treasury and the U.S. Internal Revenue Service released final instructions and tax forms for the Affordable Care Act’s information reporting requirements. These requirements apply to employers and health insurers as set out in Internal Revenue Code sections 6055 (Forms 1094-B and 1095-B) and 6056 (Forms 1094-C and 1095-C). The agencies also released final transmission forms that will be used to submit the information to the IRS. The final forms and instructions are largely consistent with draft forms and instructions released last summer. Employers that file at least 250 forms annually are required to file electronically. Instructions for electronic filing of the information remain under development.
