Last fall, President Barack Obama signed the Protecting Affordable Coverage for Employees Act (PACE), which preserved the historical definition of small employer to mean an employer that employs 1 to 50 employees. Prior to this newly signed legislation, the Patient Protection and Affordable Care Act (ACA) was set to expand the definition of a small employer to include companies with 51 to 100 employees (mid-size segment) beginning January 1, 2016.
Topics: health care costs, ACA, essential health benefits, minimum essential coverage, Affordable Care Act, PACE Act, Compliancedashboard, Vicki Randall, Protecting Affordable Coverage for Employees Act, small employer
If you are an Applicable Large Employer (ALE), you may still be catching your breath from 2015 Patient Protection and Affordable Care Act (ACA) reporting. However, in a couple of weeks the process starts all over again as you prepare for the 2016 reporting cycle. As with all new requirements, the first filing cycle had some bumps as there was little guidance for some of the questions and issues that arose. In preparation for 2017, let’s take a look at the “C” forms and discuss areas of the forms that may have been confusing.
Topics: ACA, Affordable Care Act, applicable large employers, Compliancedashboard, Vicki Randall, Form 1094-C, IRS reporting, Form 1095-C, offer of coverage
In a few weeks, a second season of shared responsibility reporting will begin. For some of you, last year’s inaugural year of reporting may have felt eerily similar to Lewis Carroll’s famous book. You know the one. It included a little girl falling down a dark hole, a rabbit frantically checking his watch and a lot of other crazy characters. Now that you have the benefit of one year of reporting under your belt, let’s look at the reporting forms and try to make them less confusing by breaking them down.
Topics: ACA, IRS Form 1095, minimum essential coverage, employer shared responsibility, Affordable Care Act, individual shared responsibility, Compliancedashboard, IRS reporting, Form 1095-B, Form 1095-C
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.
Topics: health insurance exchanges, ACA, IRS Reporting Rules, employer shared responsibility, Affordable Care Act, Compliancedashboard, Dan Bond, health insurance subsidy, Vicki Randall