Important Deadline and Health Care Reform Update

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.

Please contact your Eide Bailly professional for additional information, visit our website or watch our Health Care Reform videos.

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