CBG Benefits

The CBG Benefits Blog

Posts Tagged 'employer shared responsibility'

New Law Increases Affordable Care Act Information Reporting Penalties

As the deadlines regarding the employer reporting requirements under the Affordable Care Act draw closer, a new law has increased the penalties that companies may face for non-compliance. Here is how the Trade Preferences Extension Act of 2015 will increase those penalties: The penalty for failure to file an information return was generally $100 but has been increased to […]

Continue Reading →

Posted in: Benefits and Insurance, Human Resources, Legislation

Leave a Comment (0) →

Health Care Reform News: IRS Releases 2015 Draft Forms for Employer Reporting of Health Coverage

On June 16, 2015, the Internal Revenue Service (IRS) released draft forms for 2015 to help employers prepare for the new information reporting provisions under the Affordable Care Act (ACA). Certain employers are required to report for the first time in early 2016 for calendar year 2015. The reporting requirements come under IRS Code Sections 6055 and 6056. The purpose […]

Continue Reading →

Posted in: Benefits and Insurance, Human Resources, Legislation

Leave a Comment (0) →

New IRS Q&As on ACA Reporting by Large Employers: Guidance Addresses Forms 1094-C and 1095-C

Under the Affordable Care Act, applicable large employers (generally those with 50 or more full-time employees, including full-time equivalents) will be required to report information to the IRS and to their employees about their compliance with “pay or play” rules and the health care coverage they have offered. For many employers, this reporting will be done via […]

Continue Reading →

Posted in: Benefits and Insurance, Human Resources, Legislation

Leave a Comment (0) →

Health Care Reform: 2015 Checklist For Completing IRS Forms 1094-C & 1095-C

As part of the Affordable Care Act, large employers — generally those with 50 or more full-time employees, including full-time equivalents — will need to report information about their compliance with the “Pay or Play” rules. For many, this will mean filling out the IRS forms 1094-C and 1095-C. Applicable large employers are required to […]

Continue Reading →

Posted in: Benefits and Insurance, Human Resources, Legislation

Leave a Comment (0) →

Understanding Employer Reporting Requirements within the Affordable Care Act

Under the Affordable Care Act, applicable large employers — those with 50 or more full-time employees, including full-time equivalent employees — are required to meet a number of new compliance requirements. For example, many organizations will have to meet the ACA’s Employer Reporting requirements, which support the “pay-or-play” rules. As part of these requirements, employers […]

Continue Reading →

Posted in: Benefits and Insurance, Human Resources, Legislation

Leave a Comment (0) →

Health Care Reform: Understanding the Impact on Variable Hour or Seasonal Employees

At our recent seminar on the topic of “Employer Responsibilities under Health Care Reform“, a number of questions were raised by employers that have a significant number of variable hour or seasonal employees. For those employers, the “Pay or Play” penalties within the Affordable Care Act certainly require a lot of attention. Calculating their total […]

Continue Reading →

Posted in: Benefits and Insurance, Human Resources, Legislation

Leave a Comment (0) →

Guidance on Fiscal Year Plans Regarding Pay or Play

Starting on January 1st, 2014, large employers will face a “pay or play” penalty if they do not offer minimum essential coverage to full-time employees and their dependents. This penalty, of course, is part of the employer shared responsibility requirements within the Affordable Care Act (ACA). We recently helped a client answer the following question regarding […]

Continue Reading →

Posted in: Benefits and Insurance, Human Resources, Legislation

Leave a Comment (0) →

Impact of Health Care Reform: Large vs. Small Employers

As employers seek to understand their responsibility under health care reform, it’s important to note that the Affordable Care Act (ACA) imposes different requirements on a “large employer” vs. a “small employer.” Also, an employer may be considered a small employer for one rule but a large employer for another. To help companies easily understand where […]

Continue Reading →

Posted in: Benefits and Insurance, Human Resources, Legislation

Leave a Comment (4) →

Pay or Play: Who Qualifies as a Dependent?

As implementation of health care reform moves forward, companies must take steps to determine if they’ll be subject to the “pay or play” penalties (also known as the “employer shared responsibility payment“). The IRS has recently published proposed rules that provide guidance on how the Affordable Care Act (ACA) defines “dependents”. This is critical to understand, because […]

Continue Reading →

Posted in: Benefits and Insurance, Legislation

Leave a Comment (0) →