United Benefit Advisors Insight and Analysis Blog

IRS Releases Draft Forms and Instructions for 2018 ACA Reporting

Posted by: Karen Hsu    Sep 27, 2018 1:12:48 PM

The IRS recently released draft instructions for both the 1094-B and 1095-B and the 1094-C and 1095-C and the draft forms for 1094-B, 1095-B, 1094-C, and 1095-C. There are no substantive changes in the forms or instructions between 2017 and 2018, beyond the further removal of now-expired forms of transition relief. There is a minor formatting change to draft Form 1095-C for 2018. There are dividers for the entry of an individual’s first name, middle name, and last name.

Read More

Topics: ACA Advisor, ACA reporting, health care coverage, compliance with health care reform, IRS reporting

IRS Releases Final Forms and Instructions for 2017 ACA Reporting

Posted by: Danielle Capilla    Oct 24, 2017 9:30:00 AM

Instructions for both the 1094-B and 1095-B and the 1094-C and 1095-C were released, as were the forms for 1094-B, 1095-B, 1094-C, and 1095-C.

Read More

Topics: Affordable Care Act, ACA reporting, employer shared responsibility

IRS Releases Draft Forms and Instructions for 2017 ACA Reporting

Posted by: Danielle Capilla    Oct 5, 2017 8:30:00 AM

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.

Reporting is required by employers with 50 or more full-time (or full-time equivalent) employees, insurers, or sponsors of self-funded health plans, on health coverage that is offered in order for the Internal Revenue Service (IRS) to verify that:

  • Individuals have the required minimum essential coverage,
  • Individuals who request premium tax credits are entitled to them, and
  • ALEs are meeting their shared responsibility (play or pay) obligations.

Read More

Topics: ACA reporting, applicable large employers, Affordable Care Act

An Employer’s Guide to Navigating the ACA’s Strong Headwinds

Posted by: Michael Weiskirch    Apr 13, 2017 9:30:00 AM

One might describe the series of events leading to the death of the American Health Care Act (Congress’s bill to repeal and replace the Affordable Care Act) as something like a ballistic missile exploding at launch. The Patient Protection and Affordable Care Act (ACA) repeal debate began nearly a decade ago with former President Barack Obama’s first day in office and reemerged as a serious topic during the 2016 presidential election. Even following the retraction of the House bill, repeal of the ACA remains a possibility as the politicians consider alternatives to the recent bill. The possibility of pending legislation has caused some clients to question the need to complete their obligation for ACA reporting on a timely basis this year. The legislative process has produced a great deal of uncertainty which is one thing employers do not like, especially during the busy year end.

Read More

Topics: Affordable Care Act, ACA, employer shared responsibility, ACA reporting, independent employee benefits advisors

IRS Delay in 6055 and 6056 Reporting for 2017

Posted by: Danielle Capilla    Dec 8, 2016 10:30:00 AM

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. Final instructions for the 1094-B and 1095-B and the 1094-C and 1095-C forms were released in September 2016, as were the final forms for 1094-B, 1095-B, 1094-C, and 1095-C. The reporting requirements are in Sections 6055 and 6056 of the ACA.

Read More

Topics: ACA, ACA reporting, PPACA reporting, applicable large employers, IRS Form 6055 and 6056, Danielle Capilla, health insurance

IRS Provides Major Delay in 6055 and 6056 Reporting

Posted by: Danielle Capilla    Jan 14, 2016 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.

Read More

Topics: ACA, minimum essential coverage, employer shared responsibility, Danielle Capilla, Affordable Care Act, applicable large employers, ACA reporting, IRS Form 6055 and 6056