Tuesday, March 31, 2020
 

President Signs Further Consolidated Appropriations Act, 2020

Brought to you by:

http://www.ubabenefits.com

United Benefit Advisors

(317) 705-1800
support@ubabenefits.com

President Signs Further Consolidated Appropriations Act, 2020
By Karen Hsu, Director of Compliance at United Benefit Advisors
Jan 31, 2020 7:36:00 AM


On December 20, 2019, President Trump signed the Further Consolidated Appropriations Act, 2020 (Act) to keep the federal government running through September 2020. The Act significantly affects provisions under the Patient Protection and Affordable Care Act (ACA), largely though one fee extension and the repeal of three taxes.


The Act also included a one-year extension of the federal tax credit for employers that provide paid family and medical leave (FML) to their employees.

  • The Patient-Centered Outcomes Research Institute (PCORI) fee is extended to 2029.
  • The 40 percent excise tax on high-cost health insurance (“Cadillac tax”) is repealed.
  • The Health Insurance Provider (HIP) Fee is repealed as of January 1, 2021.
  • The medical device excise tax is repealed as of January 1, 2020.


Copyright © 2001-2012 United Benefit Advisors, LLC. All Rights Reserved Terms Of Use Privacy Statement