Category: Affordable Care Act

Affordable Care Act

Businesses Surprised to Receive ACA Penalties by Adam Cohen, CPA

Posted on October 26, 2020 by Adam Cohen

The Affordable Care Act (ACA), signed into law in 2010 and effective for tax years beginning in 2014, continues to be a source of political and legal contention. Today, amid the COVID-19 pandemic and resulting business closures and job losses, Republican lawmakers and business owners in 20 states prepare to argue before the Supreme Court […]

There’s Still Time to Secure Health Insurance for 2019

Posted on November 29, 2018 by Adam Cohen

The open-enrollment period for U.S. taxpayers to secure medical health insurance for 2019 via the Health Insurance Marketplace runs from Nov. 1, 2018, through Dec. 15, 2019. While the new tax law introduced on Jan. 1, 2018, does eliminate the Obamacare individual shared responsibility penalty for individuals who go without insurance in 2019, there are […]

Small Businesses Competing for Talent are Making Use of a Forgotten Benefit by Adam Cohen, CPA

Posted on September 18, 2018 by Adam Cohen

In the current labor market, small businesses that lack the budgets to afford employee benefits, such as onsite food service, medical care and even ping-pong tables, are having a hard time attracting workers. However, many of these small companies are just now recognizing that the government provided them with an affordable, tax-friendly and hassle-free option […]

IRS Announces 2018 HSA Contribution Limits by Adam Cohen, CPA

Posted on June 05, 2017 by Adam Cohen

Taxpayers who participate in high-deductible health insurance plans will receive a minimal increase in the amount of pre-tax dollars they may contribute from payroll deductions into Health Savings Accounts (HSAs) in 2018. The IRS recently announced that the annual HSA contribution limit in 2018 will be $3,450, compared with $3,400 in the current year. For […]

Presidential Order Does Not Affect Taxpayer’s Obamacare Compliance Requirements by Adam Cohen

Posted on February 24, 2017 by Adam Cohen

President Donald Trump’s Jan. 20, 2017, executive order directing federal agencies to minimize economic and regulatory burdens of the Affordable Care Act (ACA) has put into question how the IRS intends to process taxpayer returns for 2016.   Under the individual shared responsibility provisions of the ACA, taxpayers and each member of their families are […]

What You Need to Know about the Affordable Care Act (also known as Obamacare) in 2017 by Adam Cohen, CPA

Posted on February 21, 2017 by Adam Cohen

One of President Donald Trump’s first executive orders is a broad directive instructing federal agencies to begin “to minimize the economic and regulatory burdens of the Affordable Care Act” on individuals, including “families, healthcare providers, health insurers, patients…or makers of medical devices, products or medications.” While Trump’s action supports the GOP’s long-standing battle cry of […]

Employers Get Obamacare Reporting Extension by Adam Cohen, CPA

Posted on January 03, 2017 by Adam Cohen

The IRS has delayed the due date for businesses to provide their full-time employees with informational statements about the healthcare coverage provided in 2016 under the Affordable Care Act. The deadline for which applicable large employers with 50 to 99 full-time equivalent employees must furnish workers with informational Forms 1095-B, Health Coverage, and 1095-C, Employer-Provided […]

Consumers Face Higher Obamacare Premiums, Penalties in 2017 by Adam Cohen, CPA

Posted on December 06, 2016 by Adam Cohen

November 1, 2016, marks the start of the fourth open enrollment period under the Affordable Care Act. From this date through January 31, 2017, consumers may sign up via or a state-run exchange to purchase minimal essential health insurance coverage for the entirety of 2017.   For 2017, consumers face a 22 to 25 […]