Impact of Tax Bill


The tax bill signed into law on December 22, 2017, eliminates the tax penalty for individuals who fail to maintain minimum essential coverage (MEC) as of January 1, 2019. Although this change will affect individuals who decline to enroll in health coverage, it does not eliminate employer reporting requirements. Some important considerations:

  *   The individual mandate penalties are still in force in 2018. Individuals who go without health coverage for 3 months or longer in 2018 will still have to pay a penalty (unless they qualify for an exception).
  *   The employer mandate still applies. Applicable large employers (ALEs) will continue to face penalties for failure to offer affordable coverage providing minimum value to their full-time employees.
  *   The section 6055 and 6056 reporting requirements continue to apply. Applicable large employers, employers of any size that provide self-funded and level-funded plans, and insurance carriers are still required to issue the applicable 1095 forms and file those forms with the IRS.

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