Wondering How those PPACA Subsidies Work?
Yes it is plural; although most articles focus primarily on the premium subsidy or tax credit, this article will describe the three different subsidies available as a result of health care reform legislation
PPACA Subsidies and Same Sex Couples
In late September, the Centers for Medicare & Medicaid Services (CMS) issued two sets of guidance following IRS Ruling 2013-17 to advise State Exchanges how to treat same-sex marriages for purposes of the premium tax credit, cost-sharing reductions, and Medicaid/CHIP eligibility.
Benefits for Same Sex Couples Some Change; Some Status Quo
Much has changed for same sex couples since the US v. Windsor Supreme Court ruling in June. In striking down Section 3 of DOMA (Defense of Marriage Act), the Justices made federal recognition of same sex marriages a reality on multiple fronts
401(k) Plans Post DOMA
Many employers encourage or require annual review of beneficiary information by their employees – often during open enrollment. This is a good business practice and is particularly important for same sex couples since the US v. Windsor Supreme Court ruling in June.
Is Eligibility for Exchange Coverage a CIS Event?
Employers with non-calendar year plans have transition relief under which plans may permit certain accident and health plan election changes midyear. For calendar year plans, we are urging employers to permit as much leniency as possible under current IRS regulations.
Losing Pre-Tax Savings via the Marketplace
Working together, the Departments of Labor (DOL) Treasury/IRS (IRS) and Health and Human Services (HHS) issued substantially identical rulings which make it clear that employers may not drop major medical coverage and send their employees off to purchase coverage on a State Exchange with dollars from a pre-tax account, including a Section 125 Café Plan. Under current law both employers and employees save on taxes when health care is purchased using an eligible tax-favored account or café plan.
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