TelePay Insurance

The Tax Corner - March 2015

IRS Releases Initial Guidance for High-Cost Healthcare Plans On February 24, 2015, the Internal Revenue Service released a notice which offers initial guidance on the Affordable Care Act's 40 percent excise tax on high-cost health plans. The tax will be effective in 2018 for so-called “Cadillac” healthcare plans. The IRS notice addresses the definition of applicable coverage and describes how the cost of applicable coverage is determined. Click here to view the notice.   Department of Labor...
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TelePay Insurance

The Tax Corner - February 2015

By Nancy Espinoza, Tax Manager IRS Releases Updated Affordable Care Act “Shared Responsibility” Information In January 2015, the IRS released updated information on the employer shared responsibility provisions of the ACA (Affordable Care Act) which became effective as of January 1, 2015. The IRS encourages employers to be prepared and to make decisions regarding the health insurance coverage offered to their employees. No employer shared responsibility payments will be due for 2014. For more in...
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