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Amy Coney Barrett and the Obamacare Debacle, Explained The ACA isn’t under threat, so why is everyone acting like it is?

IRS Extends Furnishing Deadline for 2020 Forms 1095-B and 1095-C IRS Notice 2020-76 extends due dates for furnishing Forms 1095-B, Health Coverage, and 1095-C, Employer-Provided Health Insurance Offer and Coverage, under the ACA from January 31, 2021 to March 2, 2021. The extended deadline is applicable to insurers, self-insuring employers, applicable large employers, and certain other providers of minimum essential coverage.... Additionally the Good Faith rule has been extended to 2020. As long as good faith effort to file in time is exhibited, mistakes or incomplete information will not result in fines. #healthinsurance #tax #employeebenefits

EMPLOYEE MISCLASSIFICATION LAWS ADD HEADACHE TO EMPLOYER ACA COMPLIANCE JULY 31, 2020 By Maxfield Marquardt-The ACA TImes

How the ACA Improved Women’s Health, Patient Access to Care A review of data regarding the Affordable Care Act underscored how important the law has been for women's health and access to care. By Sara Heath

Fifth Circuit Rules Individual Mandate Unconstitutional, Punts on Whether Entire ACA Must Fall

ACA... Your Organization's Compliance management is More Important Than Ever As the years have passed since the first Affordable Care Act (ACA) Employer Reporti...ng Year (2015) the Internal Revenue Service (IRS) has continually improved its processes for identifying ACA compliance and information reporting violations. During this time there has also been several efforts to Repeal and Replace ACA (these were not successful) and court challenges (the most recent Texas v. United States) which have not changed any aspect of the ACA regulations or associated penalties to employers. The IRS has clarified via IRS Letter 2019-008 in no uncertain terms that the ACA’s employer mandate penalties continue to apply to applicable large employers (ALEs) that fail to offer affordable, minimum value health coverage to their full-time employees (and dependents), and the IRS is actively enforcing penalty collection. Additionally, employers must report on the health coverage offered to employees by distributing Form 1095-C to its employees and transmit the forms along with Form 1094-C to the IRS each year or face additional non-filing penalties! All of this makes your organization’s compliance management more important than ever. Reducing your penalty risk has never been more vital here are a few things you can do to protect your company Verify your data is accurate: Incomplete or inconsistent data regarding hire dates, term dates, offers of coverage or leaves of absence may all pose problems. Make sure your organization consistently reviews and maintains your data. Review your health plan strategy: What type of plans are you offering (MEC or MV)? Are you considering the affordability of premiums for your lowest paid employees? Determine if your plans meet the Federal Poverty Line safe harbor if not, consider whether Rate of Pay or W-2 safe harbor is the best solution (consult with your benefit plan advisor and ACA vendor). Manage personnel changes, acquisitions and FEIN mergers accurately: ACA compliance is challenging enough it becomes even more difficult when key players move on (and the ACA tasks fall into unfamiliar hands) or mergers and acquisitions get thrown into the mix. Understanding how mergers and acquisitions may impact your organization is critical. When integrating another company’s employee population, attempt to collect as much data from the previous HR/Payroll/ACA/Benefit plan administrators. Also, create a detailed procedure manual which includes all ongoing ACA compliance tasks which your team can follow. Timely distribute and file your 1095-C Forms: Ensure your organization’s 1095-C forms are distributed to individuals in a timely manner and be sure to file with the IRS before the annual deadline. Importantly, note that there is no statute of limitations for non-filed returns. This means for a company that failed to file a return in 2015, a penalty for this infraction is possible until the return is filed or until the IRS decides to issue a penalty assessment with interest. Spend a few minutes on a regular basis managing your ACA compliance: Don’t wait until the end of the year to manage your offers of coverage or to begin reviewing data for 1095-C forms. There should be no such thing as ACA Season! Astute employers will spend a few minutes each month reviewing and recording data and at the end of the year just a few more minutes and they are complete with ACA. Don’t leave your ACA compliance strategy to chance. Work with a credentialed team of experts (Payroll / Benefits / ACA ) who can help you manage compliance concerns, and provide your organization with the integrated support it needs through every step of managing ACA compliance.

State ACA reporting compliance: What employers need to know now As more states pass their own individual mandate, most will most likely layer on their own version of employer reporting requirements.... When the Affordable Care Act’s (ACA) Individual Mandate provision was reduced to zero at the beginning of 2019, many of the country’s employers viewed it as the end of the requirement. Some states, however, saw an opportunity to stabilize their market and create revenue streams that would support health initiatives within their own borders. In fact, New Jersey, the first state this year to pass its own individual mandate, expects to collect $90 million to $100 million in penalties. The state plans to direct those funds to its new Health Insurance Premium Security Fund, which is designed to help pay the claims of New Jersey residents who are catastrophically ill. So for the 2019 tax year, New Jersey & Washington D.C. will require employers to report on the health coverage offered to an employee who resided in the given state (even if the employer operates in another state). The employer reporting party continues to expand as Vermont, Rhode Island & California mandates go into effect in 2020 (Connecticut, Maryland Hawaii, Minnesota & Washington will follow shortly thereafter)! What does this all mean for employers? If you are not sure, you’re not alone. Companies around the country are struggling to understand how requirements will differ for each state and what is expected of them to report and file to remain compliant with the state-based mandate. Engage with your organization’s ACA service team sooner than later to make sure you are prepared.

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