ACA Reporting | ACA Reporting

ACA Affordability Safe Harbors must work for Everyone in a Class …

The IRS regulations for ACA reporting require an employer to show that they offered the ‘right type of plan’ at the ‘right type of cost’ or else face penalties. This means that an employer must have offered minimum essential coverage and minimum value coverage at a cost no greater than 9.5% of the employees household income.

Problem! When you hired an employee you didn’t hire their whole household, so how are you to know what that number actually is? To deal with this issue the IRS allows for employers to make assumptions on what the household income is for an employee. […] Read more

ACA Reporting Delay: Impact On Individual Tax Filings

One of the most common questions we are receiving is regarding the impact to employees filing their own personal taxes now that there has been an extension of time allowing employers and organizations until the end of March 2016 to supply forms 1095-B and 1095-C to their employees. The concern rises when employers consider how employees can complete their normal tax filings without being provided the forms showing their health coverage for the year.

The IRS recently released some guidance to assist us with understanding this topic. In their guidance they have said, “Due to these [ACA reporting] extensions, some individual […] Read more

IRS Changes ACA Reporting Deadlines …

Today the IRS and Treasury Department released guidance extending some of the Affordable Care Act reporting guidelines. Simply put, the extensions will allow for the following:

Employers will have an additional two months (until the end of March 2016) to provide employees with the forms 1095-B and 1095-C, and
Employers will have an additional three months to file with the IRS.

New paper form filing deadline: May 31st, 2016
New e-filing form filing deadline: June 30th, 2016

To learn more you can see the actual guidance by clicking here.

[…] Read more

ACA Reporting That ‘Creates The Codes’…

Due to the number of questions we still receive on this issue, we thought it would be helpful to post so that everyone knows our process for creating ACA reporting fully completes all of the codes necessary on form 1095-C lines 14 and 16 on behalf of our clients. This is by far the most complex portion of the ACA reporting and yet many reporting vendors in the marketplace require the employer to create these codes. If you have read through the IRS guidance on reporting, you understand that this is a problem due to the complexity and is the […] Read more

Designated Governmental Entity (DGE) Did Not Fully Report on ACA To IRS …

Many municipal and other governmental entity types have been surprised by the fact that their Designated Governmental Entity has not reported all of the necessary information to the IRS as they assumed would happen. Under the Affordable Care Act (ACA), Applicable Large Employer (ALEs) must report to the IRS on the type of plans that were offered to their employees, the costs of these plans, and who was covered under the plan. For some governmental groups (we will call these ‘primary’) they might have a separate governmental entity that has some of their employees covered and who have agreed to […] Read more

ACA Reporting Software Provider [15 Question Quiz]

Let’s face it, the marketplace is confused when it comes to ACA Reporting. Since this is the first year of mandatory reporting, how can you know if your vendor ‘knows their stuff’ when it comes to ACA Reporting? To help employers, we have created a quiz to assist you in researching ACA Reporting Software providers. These questions are specifically designed to help an employer determine if their vendor has the necessary knowledge to support them through the ACA reporting process.

Do fully insured employers need to report? If so, what type of reporting do they need to do [what forms, etc]?
Who […] Read more

Evaluating ACA 6056 Employer Reporting Software?

Employers & Benefit Brokers Evaluating ACA 6056 Reporting Software

If you are a large employer or employee benefit broker, chances are you have spent a lot of time trying to determine the best ACA 6056 reporting and compliance solution for your clients. We do not sell software – but rather full service reporting. However, we have researched almost a dozen different ACA employer reporting and compliance vendors and we thought we would pass along what we learned.

Beginning Questions To Ask Yourself

As an employer or benefit broker, this is how the ACA reporting question breaks down for you.

1). Some employers will have their online […] Read more

Municipalities, School Districts, Governmental Entities – ACA Reporting

Across the country municipal government, cities, towns and school districts are beginning to learn their responsibilities for Affordable Care Act (ACA) reporting to the IRS under Internal Revenue Code 6055 and 6056. We speak to these municipal groups every day, and this often is a complete shock to them. What do you mean I have a self funded plan?

For municipal groups and school districts under the state health plan in their given state, they are being notified that they are actually on a self funded plan. The reason for this is the manner in which the states generally arrange these […] Read more

All Large Employers MUST Complete ACA Reporting (Even Fully Insured Groups)

This comes as a surprise to many, but YES – if you are an employer with 50+ employees (or full time equivalent employees), you must complete ACA Reporting to the IRS (forms 1094 and 1095).

But I’m Fully Insured . . . My insurance carrier will take care of this right? No!

You might have thought that your insurance carrier was going to take care of this, but they only report the portion that they are required to report as an insurance carrier. Employers still have additional responsibilities.

The easiest way to think about this is by considering what the […] Read more

Top ACA service vendors implement cutoff dates for new clients!

Supreme Court Rules In Favor of Subsidies

Last Thursday (June 25th) the Supreme Court approved federal subsidies for health insurance under the Affordable Care Act. So the result? The ACA and all the mandates that go with it are not going anywhere soon. This is forcing employers to ask themselves the hard hitting question, “Are we ready for the ACA mandate”?

Are Employers Really Ready for ACA?

The reality is that the majority of employers have not yet begun to implement a strategy to comply with the new ACA compliance requirements. With the first reports being due by January 2016, many employers are […] Read more

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