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Posts Tagged 'Employer Shared Responsibility Provision'

Draft Forms for 2017 ACA Reporting Released

On July 28, 2017, the IRS released draft versions of the forms that employers will use to report on the health insurance coverage they offered in 2017. Generally, most applicable employers will use Form 1094-C and Form 1095-C to meet their reporting obligation under the Affordable Care Act. Below are links to the draft versions [...]

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Posted in: Benefits and Insurance, Human Resources, Legislation

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Senate Releases the Better Care Reconciliation Act

On June 22, 2017, Republicans in the U.S. Senate released a draft of their proposal to repeal and replace the Affordable Care Act (ACA). The proposal is being called the Better Care Reconciliation Act (BCRA). Debate is currently occurring that will impact whether and when a vote may be taken regarding this Act. While some [...]

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Posted in: Benefits and Insurance, Human Resources, Legislation

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ACA Compliance Update: Affordability Percentages Will Decrease for 2018

Under the ACA, employees (and their family members) who are eligible for coverage under an affordable employer-sponsored plan are generally not eligible for the premium tax credit. The ACA provides that employer-sponsored coverage is considered affordable if the employee’s required contribution for self-only coverage does not exceed a specific percentage of the employee’s household income [...]

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American Health Care Act Update – ACA Replacement Bill Withdrawn

UPDATE: On May 4, 2017, the the U.S. House of Representatives passed the American Health Care Act. Click here to read more. On March 24, 2017, Republican leadership in the U.S. House of Representatives withdrew the American Health Care Act — their proposed legislation to repeal and replace the Affordable Care Act (ACA). House Republicans [...]

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Electronic Filing Deadline for 2016 ACA Information Returns Approaching

While discussion regarding a replacement bill for the Affordable Care Act (ACA) continues to move forward, applicable employers are still under obligation to meet the ACA’s reporting requirements for 2016. Employers that will be filing electronically with the IRS have an upcoming deadline to pay attention to. Below is a brief overview: Applicable large employers [...]

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House Committees Release ACA Replacement Bills

Update: On March 24, 2017, House Republican leaders withdrew the legislation this is discussed in this article before it could be voted on. On March 6, 2017, Republican leadership in the U.S. House of Representatives issued two bills that are collectively known as the American Health Care Act. The purpose of the Act is to [...]

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ACA Reporting for 2016: Educating Employees About Form 1095-C and Form 1095-B

In order to meet the 2016 Affordable Care Act (ACA) reporting requirements, many employers had to put forth effort to meet two key deadlines: Filing with the IRS: February 28, 2017 (or March 31, 2017 if filing electronically). Distributing Form 1095-C documents to Employees: March 2, 2017 However, an additional step that employers may need [...]

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ACA Reporting for 2016: Deadline Extension Announced for Form 1095-C Distribution

On November 18th, 2016, the IRS announced a deadline extension that may benefit employers that need to comply with the Affordable Care Act’s Employer Reporting Requirements. Here are the main two changes that were announced: The due date for distributing Form 1095-C documents to employees has been extended from January 31, 2017 to March 2, [...]

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Final Forms and Instructions for 2016 ACA Reporting Released

On September 30th, 2016, the IRS published final versions of Form 1094-C, Form 1095-C, and the final 2016 Instructions. Generally, these forms will be used by employers to report offers of health insurance coverage made to their full-time employees during the 2016 calendar year. There were only minor changes made to the 2016 version of [...]

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Get Ready for ACA Reporting Deadlines

For 2015, employers had extra time to complete their Section 6056 and Section 6055 reporting thanks to transition relief from the IRS. Of course, even with that extra time, there were still many challenges faced by employers and vendors regarding producing the forms and communicating the impact to employees. Regarding the need to next report [...]

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