Sheryl Southwick
Sheryl Southwick is executive director of benefits compliance for TriNet
4 Articles
Benefits
CARES Act: Retirement Relief Implications for 401(k) Sponsor Plans
In response to the Coronavirus pandemic, President Trump signed the Coronavirus Aid, Relief and Economic Security Act (CARES Act) on March 27, 2020. The CARES Act provides relief to many Americans affected by the Coronavirus, and includes retirement plan provisions.
April 13, 2020 ・4 mins read
Benefits
When it Comes to the Affordable Care Act, "6056" is a Four Letter Word
Most Applicable Large Employers (ALEs) didn’t anticipate the extent of the challenges they would face while completing the ACA Section 6056 Forms 1094-C and 1095-C for the first time this year. So what can you do to avoid 6056 headaches and frustration next year?
January 24, 2019 ・4 mins read
Benefits
It’s Tax Season! Here is What Employers Need to Know About the IRS’s Affordable Care Act Reporting Requirements (with Deadlines)
In February 2015, the IRS issued final forms and instructions related to the Affordable Care Act (ACA). Back in December, 2015, the IRS issued a deadline extension for the new ACA reporting requirements. For tax year 2015, employers and insurance carriers are required to report medical coverage data under Internal Revenue Code sections 6056 and 6055.
Below is what you need to know to decide what you need to report and what form to use. The chart above is a handy reminder of the deadlines to file this paperwork.
Start by figuring out if your company is considered an applicable large employer (ALE)
An ALE is a company that employed 50 or more full-time employees, including full-time equivalent employees (FTEs), on average during the previous calendar year. Generally, a full-time employee is someone who works 30 or more hours a week, on average. Internal Revenue Code section 6056 applies to companies that meet the definition of an ALE, including companies that did not offer group medical coverage in 2015.
January 24, 2019 ・6 mins read
Benefits
SMBs in the Healthcare Industry: There is a New Affordable Care Act Requirement for Your Business
Companies that are primarily engaged in providing or administering health care services or coverage have one more Affordable Care Act (ACA) notice requirement to worry about. Effective October 16, 2016, healthcare companies must post a notice stating that they do not engage in discrimination that is prohibited by ACA Section 1557.
November 15, 2016 ・4 mins read
