The Health Care Reform landscape is constantly changing and evolving. The information below is meant to remind you of a Transitional Reinsurance Fee deadline on November 15 and instructions on Forms 1094-C, 1095-C, 1094-B, 1095-B, and 1095-A.
Important Deadline: Transitional Reinsurance Fee
Employers with self-funded plans need to be aware of and pay attention to the Transitional Reinsurance Fee and submit their enrollment count via Pay.gov to the Centers for Medicare & Medicaid Services by November 15, 2014. Following submission, employers will receive a bill for the amount owed, with the first payment of $52.50 per covered life due by January 15, 2015, and the second payment of $10.50 per covered life due by November 15, 2015.
Please note: HSAs, as well as HRAs that are integrated with a health plan, are not included in this fee.
Learn more about the Transitional Reinsurance Fee by clicking Centers for Medicare & Medicaid Services above. Please note that you do not receive an actual invoice for are prompted with how much you owe upon completing the submission.
Update: Completion of Forms
On August 28, 2014, the IRS released draft instructions to Forms 1094-C, 1095-C, 1094-B, 1095-B and 1095-A. Although these are draft instructions, they offer good insight into the way the IRS will handle the filing requirement for employers, insurance carriers and the exchange.
Click here to read a brief summary for each form.