The Axcet Blog

ACA Employer Penalties: IRS Letter 226J

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Under the Affordable Care Act, “employer shared responsibility provisions” became part of the Internal Revenue Code in 2015. These directives encourage “applicable large employers” (ALEs) – generally those with 50 or more full-time equivalent...

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Is Your Company’s Health Insurance Affordable? If Not, ACA Penalties May Await You

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A key objective of the Affordable Care Act is to ensure every American can afford health insurance. Based on ACA guidelines, a plan in 2019 is deemed affordable if the lowest-cost, self-only coverage option (not including insurance for a spouse...

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Self-Funded Insurance May Cost More Than It Saves: Risk ACA Non-Compliance Penalties Can Add Up

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Health insurance costs have consistently and noticeably increased every year since the Affordable Care Act (ACA) became law in 2010. To save money, some smaller companies have turned to self-funded insurance plans – a model more typically...

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IRS Increases 2019 401(k) and IRA Contribution Limits

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We have great news for retirement savers who resolved to save as much as possible this calendar year. The Internal Revenue Service (IRS) issued cost of living adjustments for 2019, which increased the contribution limit for certain retirement...

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How to Explain Health Insurance Benefits to Employees

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It’s that time of year again, when small business owners across the country are renewing their health benefits plans for 2019 or considering offering them for the first time. It’s common for both employers and employees to feel a little...

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8 Factors Impacting Your Employee Health Care Costs

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Rising and unpredictable employee health insurance costs can be a big headache for small business owners.  While you can’t change all the factors built into health insurance costs, but there are choices you can make that can reduce the cost of...

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Can a 1 or 2-person company get group medical insurance?

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Question: Is a small owner-only business eligible for group medical insurance? At this time, our company is comprised of the owner and his wife. There are no other employees yet, but we plan to hire employees in the future. Can we buy a group...

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Q&A: Self-Funded Health Plan & Transgender Services

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Question : Our company’s group health plan is self-funded (uninsured). Are we required to cover transgender services? We heard that a federal law might require coverage but the rule was repealed. Is that correct? 

Answer: At this time, federal...

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Q&A: When to Offer COBRA

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Question: During open enrollment, one of our employees dropped her husband from our group health plan. Do we have to offer COBRA in this case?

Answer: No. COBRA is only offered to persons who lose their group health coverage due to specific...

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Q&A: COBRA rate increases 

Question: We understand that COBRA rates can only be increased once every 12 months. How is the 12-month period determined? Answer: The determination period is any 12-month period selected by the plan as long as it is applied consistently from...

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