We printed the ACA pay-or-play regulations the very day they were published: February 12, 2014. By that time, we already were students of the voluminous detail in the Affordable Care Act's employer mandate. Our software had been in beta testing for more than a year. Its first commercial installation was just two weeks [...]
Early in the year, businesses begin to gather documents needed for the upcoming tax season. You need to supply employees with W-2s and the Affordable Care Act (ACA) IRS Form 1095-C. Onceemployees file their taxes in April, they may want to make some changes to withholdings. Employees that receive a nice refund or have to [...]
Content updated 10/24/2023 While the federal individual mandate penalty of Obamacare has been repealed, there are some states that are requiring state level mandates. As for the employer mandate element of Obamacare, you often hear of employers’ pay-or-play penalties. There are two potential penalties related to the Employer “Shared Responsibility” provision. The first penalty is [...]
Content updated 10/23/2023 With so many 1095-C codes to remember; it can be difficult to be informed on what codes best suit your coverage offering. We will explain the Qualifying Offer code 1A and when it is applicable. We will also discuss the advantages to using it. What is Code 1A-Qualifying Offer? To [...]
Content updated May 30, 2018 One of the most-asked questions from our clients that offer self-funded coverage is: Why is Part II of a 1095-C conflicting with Part III? With this type of policy, the employer assumes the reporting responsibility for Section 6055 of the Internal Revenue Code in addition to the reporting responsibility for [...]
[with February 24, 2016 update] News from the IRS this week about the 60-day extension of the Form 1095-C production deadline is raising a particular concern among businesses that we work with – one question, asked several ways: “What does a delay in delivering this form mean for our employees?” “What happens when employees want [...]
U.S. business owners have some – not much, but some – extra time to get ready for the first production and filing season of Affordable Care Act returns. This help that extends 1095-C deadlines for IRS compliance with the new health law came this afternoon from the Treasury Department and the IRS in Notice 2016-4. According [...]
If you have copies of 250 or more 1095-Cs to submit, you must electronically file your 1094-C (transmittal of the 1095-Cs) with the IRS. If you have 249 and fewer 1095-C forms to submit, e-filing is optional but recommended. Our ACA Compliance Solution will generate the required XML file for you – we were the first [...]
ALE – the acronym for “Applicable Large Employer” that we keep hearing for companies required to comply with the Affordable Care Act – can pack meaning that is just as serious for smaller businesses. If a company with under 50 full-time employees (including equivalents) is related to companies that meet IRS rules for being commonly [...]
Content updated May 29, 2018 When counting heads to see whether a business is large enough to need to comply with the Affordable Care Act, a company has to start by looking at the service hours of every worker. But in the tally toward that all-important threshold for an Applicable Large Employer – 50 full-time [...]
