Trump Signs Executive Order On The ACA

On Jan. 20, 2017, President Donald Trump signed an executive order addressing the Affordable Care Act (ACA), as his first act as president. The order states that it is intended to “to minimize the unwarranted economic and regulatory burdens” of the ACA until the law can be repealed and eventually replaced.

The executive order broadly directs the Department of Health and Human Services (HHS) and other federal agencies to waive, delay or grant exemptions from ACA requirements that may impose a financial burden.

Click here to view the “action steps”

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Congress Clears Path For ACA Repeal

On Jan. 13, 2017, the U.S. House of Representatives passed a budget resolution for fiscal year 2017 to begin the process of repealing the Affordable Care Act (ACA).

The budget resolution will be used to draft budget reconciliation legislation to repeal certain ACA provisions.
A full repeal of the ACA cannot be accomplished through the budget reconciliation process.

Click here to view the full article.

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2017 Minimum Wage Rate Increases

The current federal minimum wage rate is .25 per hour. However, many states have adopted minimum wage rates higher than the federal rate. When the state rate and the federal rate are different, employers must pay their employees the higher rate.

Here are a few of the following states that have adopted the new minimum wage rates for 2017:

California
Florida
New York
Maine
Massachusetts
Michigan
Missouri

Click here to view the full article and full list of states the have adopted the new minimum wage rates for 2017.

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Cornerstone Group Now accepting clients for the 2016 ACA Reporting Year!

While the deadlines for 2016 reporting are as firm as a plaster cast, we can expect the timing for replacing ACA provisions to be as stretched out as a tight bandage. Replacement legislation and its enforcement regulations are unlikely to be ready for implementation before 2019. This should signal to employers that the internal Revenue Service is likely to enforce the Employer Mandate for at least another two years, keeping the reporting bandage painfully taut for now.
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Are You Overwhelmed by ACA Reporting Requirements? 

Don’t fracture your bottom line with a massive ACA penalty. Call on Cornerstone […] Read more