The delay in reporting deadlines announced by the IRS in late December has given many employers much needed breathing room. IRS Notice 2016-4 issued on December 28, 2015 extending the filing deadlines for ACA reporting. Employers subject to the reporting requirements face a deadline of March 31, 2016 to furnish 1095-C statements to each full-timeContinue reading “Reporting Delay Shouldn’t Cause Consumer Filing Delays”
Category Archives: Uncategorized
10 ACA Reporting Reminders and Tips
Small employers with insured health plans do not have to provide reports to their employees or to the IRS. Employers with 50 or more full-time and full-time equivalent employees must report for this year. Transition relief does not apply for reporting purposes. Employers who will file 250 or more information returns must do so electronicallyContinue reading “10 ACA Reporting Reminders and Tips”
Spousal Carve-Outs Gaining Traction?
A simple internet search for the term “spousal carve outs” turns up dozens of links. The surfeit of links underscores the interest that employers are showing for measures that may reduce health coverage costs. Implementing a spousal carve-out or spousal surcharge is no small task. Employers need to consider a host of issues, not theContinue reading “Spousal Carve-Outs Gaining Traction?”
Dig Deeper for PCORI Fees Next Year
IRS Notice 2015-60 brought some bad news to employers with health plans. The notice announced the PCORI fee will increase for health plan years that end on or after October 1, 2015 and before October 1, 2016. The fee is rising from $2.08 per covered life to $2.17 per covered life, an increase of 4.3Continue reading “Dig Deeper for PCORI Fees Next Year”
Affordable Care Act’s Employer Reporting Deadlines Loom!
Employers are facing the impending deadlines for the ACA’s employer reporting requirements. As of today there are only 116 calendar days left until employers have to file statements to full-time employees! Employers who are required to report are generally those who meet the definition of “applicable large employer” or ALE. ALEs are employers with 50Continue reading “Affordable Care Act’s Employer Reporting Deadlines Loom!”
Decoding “Qualifying Offer Method” from Line 22 (on Form 1094-C)
Form 1094-C is the transmittal form that is sent to the IRS along with a firm’s Form 1095-Cs. It has been compared to a FAX cover sheet. A FAX cover sheet for those too young to remember was used to identify the person who was to receive the information. The cover sheet often gave aContinue reading “Decoding “Qualifying Offer Method” from Line 22 (on Form 1094-C)”
3 ACA Questions Employers Need to Have Answered – Yesterday! Question 3: Have you qualified for transition relief?
Once employers know whether they’re an ALE (applicable large employer) and whether they’re part of a controlled group, they have baseline information to help determine just when compliance with the Employer Shared Responsibility (ESR) requirements is required. Question 3: Have you qualified for transition relief? Transition relief – or the lack of it – determinesContinue reading “3 ACA Questions Employers Need to Have Answered – Yesterday! Question 3: Have you qualified for transition relief?”
3 ACA Questions Employers Need to Have Answered – Yesterday! Question 2: Are You Part of a Controlled Group?
Question one (1) of the three (3) questions that employers or their advisers need to have answered yesterday addressed how an employer must count employees for ACA to determine the employer’s size. The next question that employers must be able to answer – Question 2 – is whether the employer is a member of anContinue reading “3 ACA Questions Employers Need to Have Answered – Yesterday! Question 2: Are You Part of a Controlled Group?”
New Law Changes ACA Employee Count for Some Employers
The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 recently signed by the President doesn’t sound like a law that affects the ACA. Surprise! This new law amends the section of PPACA that addresses the definition of applicable large employer (Section 4980H(c)(2)). This provision allows employers to calculate whether they meet theContinue reading “New Law Changes ACA Employee Count for Some Employers”
Seasonal Employees- Bam!
One of the more frequent compliance questions is whether employers need to offer coverage to seasonal employees under ACA. Whether and when a seasonal employee should be offered coverage is particularly important for employers subject to the employer responsibility provisions of the law. First, it’s important to understand who qualifies as a seasonal employee. InContinue reading “Seasonal Employees- Bam!”
Compliance NOW! 