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Pay or Play Penalties are Still Applicable

pay or play penalties

1 minute read

The IRS released an information letter which confirms that the employer shared responsibilities or pay or play penalties continue to apply for applicable large employers (ALEs) that fail to offer acceptable health insurance coverage to their full-time employees and dependents.

The letter also indicates that the law doesn’t provide for any waiver for the penalties and reiterates that no transition relief is available for 2017 and future years.

Is a High Deductible Plan with an HSA Right for Your Organization?

Trump’s 2017 executive order broadly directed federal agencies to waive, delay, or grant exemptions from Affordable Care Act (ACA) requirements that may pose a financial burden. However, the executive order did not provide guidance about any particular ACA requirement or provision and doesn’t change any existing regulations.

The letter reiterates that the executive order does not change the law. ACA provisions are still effective until changed by Congress. Taxpayers are still required to follow the ACA, including paying any applicable penalties they may owe.

For more information, download the bulletin.

National Insurance Services is not a law firm and no opinion, suggestion, or recommendation of the firm or its employees shall constitute legal advice. Readers are advised to consult with their own attorney for a determination of their legal rights, responsibilities and liabilities, including the interpretation of any statute or regulation, or its application to the readers’ business activities.

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Pierre Guilfoile

Pierre Guilfoile

Pierre Guilfoile believes that “every situation, positive or negative, provides an opportunity to learn and to grow.” Clients will appreciate his overall expertise, communication skills, and his willingness to dig deep to find the right solution. He is a licensed insurance agent, member of the Minnesota Association of Health Underwriters (MAHU), member of the Self-Insurance Institute of America, Inc. (SIIA), and has a background in health and dental insurance. Pierre's primary responsibility will be monitoring the financial health of client's health insurance plans, evaluating medical renewals, overseeing claim evaluation creation and delivery, and working closely with our Employee Benefit Consultants.