[1]On December 13, 2016, President Obama signed into law the “21st Century Cures Act” which provides a medical innovation package that funds medical research, accelerates cutting-edge treatments for rare diseases, and makes significant reforms to the mental health system. This Act also allows small employers to provide Health Reimbursement Arrangements (HRAs) to their employees without facing penalties for failing to satisfy certain Affordable Care Act (ACA) requirements. The Act also extends relief previously granted under Notice 2015-17, to apply to plan years beginning on or before Dec. 31, 2016.
For more information, visit https://tax.thomsonreuters.com/media-resources/news-media-resources/checkpoint-news/daily-newsstand/checkpoint-special-study-21st-century-cures-act-establishes-small-employer-hras/ [2].