Guidance available on Early Retirement Reinsurance Program payments


The AICPA issued Technical Practice Aids (TPAs) 6931.13–.17 to provide nonauthoritative guidance on health and welfare plan accounting and reporting for reimbursements received under the Patient Protection and Affordable Care Act’s (PPACA) Early Retirement Reinsurance Program (ERRP).

The TPAs describe the ERRP and cover matters such as how to report the ERRP reimbursement in the health and welfare plan’s financial statements, including when the reimbursement is not remitted to the trust; health and welfare plan accounting for ERRP reimbursements applied for prior to year-end but not approved until after year-end; accounting for the effects of the ERRP reimbursement on the health and welfare plan’s postretirement benefit obligation; and disclosures a health and welfare plan might consider including in its financial statements related to the ERRP.

More from the JofA:

 Find us on Facebook  |   Follow us on Twitter  |   View JofA videos

SPONSORED REPORT

How to make the most of a negotiation

Negotiators are made, not born. In this sponsored report, we cover strategies and tactics to help you head into 2017 ready to take on business deals, salary discussions and more.

VIDEO

Will the Affordable Care Act be repealed?

The results of the 2016 presidential election are likely to have a big impact on federal tax policy in the coming years. Eddie Adkins, CPA, a partner in the Washington National Tax Office at Grant Thornton, discusses what parts of the ACA might survive the repeal of most of the law.

COLUMN

Deflecting clients’ requests for defense and indemnity

Client requests for defense and indemnity by the CPA firm are on the rise. Requests for such clauses are unnecessary and unfair, and, in some cases, are unenforceable.