On January 20, 2017, newly inaugurated President Trump issued his first executive order pertaining to the future of the Affordable Care Act (“ACA”). In short, the executive order calls upon the various federal agencies to minimize the economic burdens of the law pending its repeal. The order further directs the federal agencies “to the extent permitted by law” to waive or delay taxes, penalties and regulatory burdens.
A great deal of uncertainty still exists surrounding the interpretation of this guidance to specific ACA provisions and its impact on employers.
Therefore, until something official is announced by the Treasury Department, employers should continue to comply with existing rules. This includes, but is certainly not limited to, preparing to furnish applicable 1095-B or 1095-C forms to employees by March 2, 2017, and file applicable 1094-B or 1094-C forms with the IRS by March 31, 2017.
Questions? Contact our Employee Benefits Team at [email protected] or 717-761-4600.