Posts Tagged ‘Department of the Treasury’

Employers To Get An Extra Year To Implement Health Law Requirement On Coverage

July 3, 2013

By Mary Agnes Carey, Kaiser Health News

The Obama administration Tuesday announced a one-year delay in the Affordable Care Act’s requirement that businesses with 50 or more employees offer coverage to their workers or pay a penalty.

Administration officials said the delay was in response to employers’ concerns about the law’s reporting requirements. Delaying the law’s “employer responsibility” provision would give employers more time to comply and give the government more time to consider ways to “simplify the new reporting requirements consistent with the law,” according to a blog post from Mark J. Mazur, the assistant secretary for tax policy at the Department of Treasury. (more…)

Palmetto GBA Announces New Interest Rate for Medicare Overpayments and Underpayments

July 18, 2012

Medicare Regulation 42 CFR §405.378 provides for the assessment of interest at the higher of the current value of funds rate (1 percent for calendar year 2012) or the private consumer rate as fixed by the Department of the Treasury.

The Department of the Treasury has notified the Department of Health and Human Services that the private consumer rate has been changed to 11.0 percent effective July 18, 2012, for Medicare overpayments and underpayments. (more…)