Archive by tag: ALEReturn
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The IRS has released the final Forms 1094-B, 1095-B, 1094-C, and 1095-C for calendar year 2018 reporting with minimal changes. Employers are required to report in early 2019 for the calendar year 2018.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: Employer reporting , 1094 , 1095 , Section 6055 , Section 6056 , Employer Mandate , IRS , ALE , ACA
The IRS has updated Questions and Answers (Q&As) on the employer shared responsibility provisions of the Affordable Care Act on their website to address the effect of association health plans (AHPs) on applicable large employer (ALE) status if the employer offers health coverage through an AHP.
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Categories: Health Care Reform, Compliance | Tags: AHP , ALE , Association Health Plans , IRS , Q&A , Applicable Large Employer , employer mandate , employer shared responsibility
As a result of industry efforts, the IRS issued Notice 2018-12 on March 5, 2018 to provide transition relief until 2020. The relief is so individuals covered by high deductible health plans that paid for male sterilization and male contraceptive expenses below the deductible will still be temporarily eligible to make contributions to an HSA.
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Categories: Benefits in General, Compliance | Tags: HSA , Notice 2018-12 , Preventive Care , Male Sterilization , Health Savings Account , HDHP , high deductible health plan , Section 223
The IRS has released two new forms that will be included with the new Letter 226J. This latest release by the IRS is in preparation of the Code § 4980H employer shared responsibility penalties against applicable large employers (ALEs) for 2015.
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Categories: Health Care Reform, Compliance | Tags: IRS , Form 14764 , Form 14765 , ACA , ALE , Letter 226J , Penalty , Employer Shared Responsibility
The IRS has updated the Q&A on the employer mandate to include new information on the notices that will be sent to employers over the next few weeks regarding any potential penalties for the 2015 reporting year.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: IRS , Letter 226J , ACA , Employer shared responsibility , ALE , Employer penalties , 1094-C , 1095-C
The IRS recently issued draft versions of Forms 1094-B, 1094-C, 1095-B and 1095-C information returns for the 2017 tax year. The Affordable Care Act requires coverage providers to use Forms 1094-B and 1095-B to report health plan enrollment and requires applicable large employers to use Forms 1094-C and 1095-C to report about employer shared responsibility. The Forms also provide relevant information about individual shared responsibility and premium tax credits.
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Categories: Health Care Reform, Compliance, Health Care in General | Tags: Affordable Care Act , ACA , 1094-B , 1095-B , 1094-C , 1095-C , information letter , IRS , Internal Revenue Service , draft , ALE , applicable large employer , Office of Chief Counsel , employer shared responsibility , individual mandate

2017 Affordability Safe Harbor Announced

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The IRS has announced that applicable large employers (ALEs) can use 9.69% of any of the three safe harbors when calculating the affordability of their group health plan for their full time employees when reporting 2017 coverage in early 2018.
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Categories: Health Care Reform, Compliance | Tags: IRS , ALE , Affordable , Reporting , Affordability , Play or Pay

Penalties Steep for Late or Incorrect 1095-C

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The deadline for applicable large employers (ALEs) to furnish a Form 1095-C to each of their full time employees is March 31, 2016. Although the IRS has granted relief from penalties for late or incorrect Forms this year, Forms that are furnished late or are incorrect for 2016 coverage are subject to a $250 penalty per late or incorrect Form to a maximum of 3 million dollars when provided in 2017.
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Categories: Health Care Reform, Compliance | Tags: IRS , 1095-C , Penalty , ALE

Transitional Relief Ending for ALEs

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Applicable large employers (ALEs) and the brokers that work with them need to be aware that transitional relief that was granted for the due date for reporting full time employees and imposition of penalties, under Play or Pay, will end soon.
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Categories: Health Care Reform, Compliance | Tags: ALE , IRS , Penalty

2015 and ’16 Play or Pay Penalties Adjusted

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The IRS has applied an inflationary adjustment to the penalties associated with Play or Pay for coverage offered in 2015 and again for coverage offered in 2016.
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Categories: Health Care Reform, Compliance | Tags: Penalty , Play or Pay , ALE , Full Time
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