Affordable Care Act - page 3
Affordable Care Act
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.
・6 mins read
Read more
Affordable Care Act
Mental Health Parity: What Employers Need to Know
Mental health parity describes the equal treatment of mental health conditions and substance use disorders in insurance plans. It is important for business owners to be aware of laws around mental health parity to avoid contracting with an insurance carrier whose plan design does not meet the standard. True mental health parity may be a work in progress but as an employer, you can take steps to minimize the impact of mental health issues in the work environment.
・4 mins read
Read more
Affordable Care Act
Five HR Topics Businesses Should be Aware Of
Here are some of the most notable topics and issues we think your business should know about and our guidance on preparing for the effects they’ll have on your business.
・11 mins read
Read more
Affordable Care Act
Suddenly Unemployed? Healthcare Options You Should Consider
COVID-19 has impacted people’s lives across the globe and has slowed down the global economy. Millions of Americans are currently unemployed which could mean loss of company-sponsored health insurance for them. We want to highlight the health coverage options that are accessible to help get through these challenging times.
・6 mins read
Read more
Affordable Care Act
Key HR Regulations You Should Keep in Mind While Planning 2017, Part 1
2017 brings many changes, including a new administration in the White House starting Jan. 20. Many in the HR community predict that the new administration will also bring a host of regulatory changes that could impact you and your business. In this two-part series, we have compiled a list of key issues that you should keep an eye on as you plan for 2017.
・4 mins read
Read more
Affordable Care Act
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?
・4 mins read
Read more
Affordable Care Act
How Does the 2016 Presidential Election Outcome Impact the Affordable Care Act?
The 2016 election is over and a new president will take office on January 20, 2017.Throughout his campaign, President-elect Trump made it very clear that he intends to repeal the Affordable Care Act. So what does it mean for the provisions of the Act itself if he is successful?
・4 mins read
Read more
Affordable Care Act
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.
・6 mins read
Read more
Affordable Care Act
Suddenly Unemployed? Healthcare Options You Should Consider
COVID-19 has impacted people’s lives across the globe and has slowed down the global economy. Millions of Americans are currently unemployed which could mean loss of company-sponsored health insurance for them. We want to highlight the health coverage options that are accessible to help get through these challenging times.
・6 mins read
Read more
Affordable Care Act
Key HR Regulations You Should Keep in Mind While Planning 2017, Part 1
2017 brings many changes, including a new administration in the White House starting Jan. 20. Many in the HR community predict that the new administration will also bring a host of regulatory changes that could impact you and your business. In this two-part series, we have compiled a list of key issues that you should keep an eye on as you plan for 2017.
・4 mins read
Read more
Affordable Care Act
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?
・4 mins read
Read more
Affordable Care Act
Mental Health Parity: What Employers Need to Know
Mental health parity describes the equal treatment of mental health conditions and substance use disorders in insurance plans. It is important for business owners to be aware of laws around mental health parity to avoid contracting with an insurance carrier whose plan design does not meet the standard. True mental health parity may be a work in progress but as an employer, you can take steps to minimize the impact of mental health issues in the work environment.
・4 mins read
Read more
Affordable Care Act
Five HR Topics Businesses Should be Aware Of
Here are some of the most notable topics and issues we think your business should know about and our guidance on preparing for the effects they’ll have on your business.
・11 mins read
Read more
Affordable Care Act
How Does the 2016 Presidential Election Outcome Impact the Affordable Care Act?
The 2016 election is over and a new president will take office on January 20, 2017.Throughout his campaign, President-elect Trump made it very clear that he intends to repeal the Affordable Care Act. So what does it mean for the provisions of the Act itself if he is successful?
・4 mins read
Read more
