United Benefit Advisors Insight and Analysis Blog

Employer Exchange Subsidy Notices: Should You Appeal?

Posted by: Vicki Randall    Dec 15, 2016 10:30:00 AM

Under the Patient Protection and Affordable Care Act (ACA), all public Exchanges are required to notify employers when an employee is receiving a subsidy (tax credits and cost-sharing reductions) for individual health insurance purchased through an Exchange. According to the final rules published in August 2013, employers have the right, but are not required, to engage in an appeal process through the IRS if they feel an employee should not be receiving a subsidy because the employer offers minimum value, affordable coverage.

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Topics: health insurance exchanges, ACA, IRS Reporting Rules, employer shared responsibility, Affordable Care Act, Compliancedashboard, Dan Bond, health insurance subsidy, Vicki Randall

What to Expect in 2016 – Clarifying Some of the Confusion of the ACA

Posted by: Michael Weiskirch    Oct 25, 2016 10:30:00 AM

One thing rings true when it comes to the Affordable Care Act (ACA): “expect the unexpected.” I know this sounds cliché, but it was my best attempt to describe the experience HR professionals encounter as they attempt to comply with this somewhat murky piece of legislation. Last year on December 28, we were alerted a month from the approaching deadline that the forms and filing requirements had moved two and three months out to address challenges. This was a fairly drastic move within a month of a significant compliance deadline.

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Topics: ACA, PPACA, IRS Reporting Rules, IRS Form 1095, IRS Form 1094, Affordable Care Act, ACA transition relief, Michael Weiskirch

IRS Reporting: Now What?

Posted by: Danielle Capilla    Jun 24, 2016 10:00:00 AM

Applicable large employers and self-funded employers of all sizes have now completed the first round of required IRS reporting under the Patient Protection and Affordable Care Act (ACA). The ACA requires individuals to have health insurance, while applicable large employers (ALEs) are required to offer health benefits to their full-time employees.

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Topics: ACA, PPACA, IRS Reporting Rules, premium tax subsidy, employer shared responsibility, minimum value coverage, applicable large employers

Top 10 UBA Blogs from 2015 Reveal Hot Button Healthcare Issues for Employers

Posted by: Bill Olson    Jan 7, 2016 12:00:00 PM

  1. IRS Provides Details on Reimbursing Premiums for Individual Health Coverage or Medicare Part B, Part D, for Medigap for Active Employees. For many years, employers were permitted to reimburse premiums paid for individual coverage on a tax-favored basis, however, these "employer payment plans" frequently are unable to meet all of the PPACA requirements. Read more
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Topics: wellness, ACA, PPACA, IRS Reporting Rules, summary of benefits and coverage, Cadillac Tax, PPACA reporting, Medicare, UBA Health Plan Survey, Affordable Care Act

IRS Releases Draft 2015 Instructions for 6055/6056 Reporting

Posted by: Danielle Capilla    Sep 10, 2015 12:00:00 PM

Under the Patient Protection and Affordable Care Act (ACA), individuals are required to have health insurance while applicable large employers (ALEs) are required to offer health benefits to their full-time employees. In order for the Internal Revenue Service (IRS) to verify that (1) individuals have the required minimum essential coverage, (2) individuals who request premium tax credits are entitled to them, and (3) ALEs are meeting their shared responsibility (play or pay) obligations, employers with 50 or more full-time or full-time equivalent employees and insurers will be required to report on the health coverage they offer. Reporting will first be due early in 2016, based on coverage in 2015. All reporting will be for the calendar year, even for non-calendar year plans. Mid-size employers (those with 50 to 99 employees) will report in 2016, despite being in a period of transition relief in regard to having to offer coverage. The reporting requirements are in Sections 6055 and 6056 of the ACA. Draft instructions for both the 1094-B and 1095-B and the 1094-C and 1095-C were released in August 2015.

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Topics: ACA, health care reform, IRS Reporting Rules, PPACA Affordable Care Act, IRS Form 1095, IRS Form 1094, Danielle Capilla, Affordable Care Act

Trade Bill Increases ACA Reporting Penalties; Reinstates Tax Credit

Posted by: Danielle Capilla    Aug 13, 2015 12:00:00 PM

Most employers are familiar with the penalties assessed to applicable large employers that fail to offer minimum essential coverage that is minimum value and affordable. In addition to being required to offer coverage, employers (all applicable large employers, and all employers with self-funded plans regardless of size) are required to complete IRS reporting forms under sections 6055 and 6056 of the Patient Protection and Affordable Care Act (ACA).

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Topics: IRS Reporting Rules, Affordable Care Act, Trade Preferences Extension Act of 2015, Health Coverage Tax Credit

IRS Issues Proposed PPACA Reporting Rules

Posted by: Bill Olson    Oct 2, 2013 3:41:00 PM

The IRS has issued the long-awaited rules on required reporting of minimum essential coverage (under Code Section 6055) and affordable, minimum value coverage (under Code Section 6056).  These rules will first apply to the 2015 calendar year, with the first reports due early in 2016.  The 6055 reporting will be done by the insurer for insured plans and the plan sponsor for self-funded plans.  The 6056 reporting will be done by large plans (50+ employees in the controlled group).  These rules are proposed so the ultimate requirements may change, but generally final rules are not significantly different than the proposed version. United Benefit Advisors has developed a summary of these reporting rules for employers. Download this summary today.

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Topics: employee benefits, health care reform, PPACA, HR compliance, IRS Reporting Rules