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In-Depth Look at Proposed IRS Regulations

A recent article in the Journal of Accountancy presents a detailed analysis of the IRS proposed regulations governing employer responsibilities under Obamacare: http://www.journalofaccountancy.com/Issues/2013/Jun/20137339.htm

The article contains an in-depth look at the rules, definitions and calculations involved in determining whether an employer is in compliance with the mandates, including:

Who is an "applicable large employer" ?

Who is a "Full Time Equivalent employee (FTE)" ? How do you calculate that? What about seasonal employees?

How does the "lookback period" work ?

What is "minimum essential coverage" ?

What is the definition of "affordable" ?

How is the "assessable payments" penalty calculated ?

This article is not for the faint of heart - it's nitty-gritty detail.

But if your company is going to be subject to the requirements, you need to get a handle on this now, because what you do now will determine what you have to do in 2014.


As always, consult your benefits provider and please give me a call before taking any action on these or other related matters.

"Tomorrow starts now."