Zinn Insurance Blog | Monique Zinn – SCOTUS Decision Confirms ACA is Here to Stay
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Business Insurance, Employer Insurance, For Business Owners, Healthcare Reform, News You Can Use, Preparedness - Written by on Thursday, June 25, 2015 16:00 - 0 Comments

SCOTUS Decision Confirms ACA is Here to Stay

 

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Today was a big day for the Affordable Care Act as the Supreme Court upheld nationwide tax subsidies preserving health insurance for millions of Americans.

The court was tasked with interpreting a portion of the law that stated that tax credits are authorized for those who buy health insurance on marketplaces that are “established by the state.” Confusing, right? Well, Chief Justice John G. Roberts Jr. said the law’s wording was problematic but Congress’s intent was clear.“Congress passed the Affordable Care Act to improve health insurance markets, not destroy them. If at all possible we must interpret the Act in a way that is consistent with the former, and avoids the latter.”

So, what does this mean for you? Well, many employers were hoping that the Supreme Court of the United States (SCOTUS) ruling was going to delay or eliminate the Employer Mandate all together. Unfortunately for you and your clients, when the IRS begins to asses penalties and perform audits, there will be no leniency given for that excuse.

There is a long standing expression that “Ignorance of the law is not an excuse.” Basically, you are your clients cannot escape liability of the employer mandate and tax penalties by claiming you are unaware of its content. Trust me, you don’t want to be one of the employers who was avoiding learning about the law and mandates because you thought it would be delayed again.

The SCOTUS decision this morning confirmed that the ACA is not going away now or any time soon. This is the second time that SCOTUS has upheld the ACA and it makes future judicial attacks unlikely to reach the level of the Supreme Court.

Let’s face it, employers can no longer stick their heads in the sand, they need to stop delaying and make sure they are in compliance.

Here are the most important questions you and your clients need to answer now:

  1. Does the employer mandate apply to me/Am I a large employer?
  2. What is my penalty exposure if I do nothing (or worse, if what I am doing is wrong)?
  3. Is it cheaper for me to offer insurance vs. paying penalties to the IRS?
  4. Am I offering an ACA compliant plan?
  5. Have I complied with all reporting requirements?
  6. Am I taking advantage of the rules that could cap my exposure?

Having trouble answering these questions? Give me a call,



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