Blog Archives

New Forms 1095-C, 1095-B, and 1094-B Released

Form 1094-C & All Form Instructions Yet to be Released The IRS has released the Forms 1095-C, 1095-B, and 1094-B that employers will use in early 2019 to report on the group health insurance coverage they offered to employees in the 2018 calendar year. To …

Hardship Exemptions from Individual Mandate Can Now Be Claimed on Tax Returns

Policy Effective for Tax Year 2018 The Centers for Medicare and Medicaid Services (CMS) has announced that individuals will be able to claim hardship exemptions from the Affordable Care Act’s individual mandate for tax year 2018 on their 2018 federal …

Short-Term Health Insurance Soon Available For Up To 36 Months

New Rule Loosens Current Restrictions Effective October 2, 2018, a new rule will allow individuals to purchase short-term, limited-duration health insurance coverage for a period of less than 12 months, and renew such coverage for up to 36 months. Under current law, …

Understanding IRS ‘Pay or Play’ Penalty Letters

Employers Have Opportunity to Respond Before ‘Pay or Play’ Penalty Assessment The Internal Revenue Service (IRS) is currently issuing Letter 226-J to certain applicable large employers (ALE)—generally those with at least 50 full-time employees, including full-time equivalent employees, on average during the prior year—it believes …

2019 ‘Pay or Play’ Affordability Percentage Set at 9.86%

Percentage Up from 2018 Under the employer shared responsibility (“pay or play”) provisions of the Affordable Care Act, applicable large employers—generally those who had 50 or more full-time employees (including full-time equivalent employees)—may be subject to a penalty if they do not …

How to Correct Form 1094-C and 1095-C Errors

Employers Should Correct Errors As Soon As Possible Although the deadlines for employers to file and furnish their 2017 Forms 1094-C & 1095-C have passed, employers should confirm the accuracy of these forms and correct any errors on them soon …

Health Care Reform Update

Reminder: 2018 ‘Pay or Play’ Affordability Percentage is 9.56% Percentage Down from 2017 Under the employer shared responsibility (“pay or play”) provisions of the Affordable Care Act, applicable large employers—generally those who had 50 or more full-time employees (including full-time equivalent employees) …

ACA Deadline Extension by the IRS for Tax Year 2017

The IRS has published Notice 2018-06 regarding an ACA deadline extension for employers and providers to issue Form 1095-C to eligible employees for Tax Year 2017. This extension is automatic and will not require any submitted request. The deadline to distribute employee …

Tax Year 2017 Deadlines

These reminders don’t do much for our popularity. But, the only thing worse than doing the work of complying with IRS mandates is stressing over penalties after the IRS has already knocked on your door (see IRS sample letter 226J). …

Play or Pay Penalty Notices Are Coming

The Internal Revenue Service (IRS) has started the process of levying penalties on employers under the Affordable Care Act (ACA) employer shared responsibility provision. Often called the employer mandate or play or pay, the ACA provides for the IRS to …

Play or Pay: Is Your Health Plan “Affordable” for 2018?

The Affordable Care Act’s employer shared responsibility provision—often called the employer mandate or “play or pay”—requires large employers to offer health coverage to their full-time employees or face a potential penalty. (Employers with fewer than 50 full-time and full-time-equivalent employees …

Preview Marketplace Plans and Prices for 2018!

We can now preview Marketplace plans and prices for 2018 using the See Plans & Prices tool on HealthCare.gov! Open Enrollment starts in one week on Wednesday, November 1. Make sure you are ready to make informed choices about health …