Last month, President Trump signed an executive order that aims to “minimize the burden” of the Affordable Care Act pending repeal. However, compliance with the current rules are still mandatory. Learn more about what to expect in our recent article.
The IRS recently released a notice detailing transition relief for filing 2016 ACA Forms 1095-B and 1095-C. This relief extends the due date from Jan. 31, 2017, to March 2, 2017. Read more about this extension in our recent article.
Which employer should offer coverage when you have a shared employee among an Applicable Large Employer (ALE) member/controlled group?
A couple facts: (1) The employee worked hours for two separate companies which were part of a controlled group. (2) The individual’s hours when considered between both companies, made him eligible for an offer of insurance.
Response: The rules state that he is the employee of whichever company he worked more hours for each month. If he worked the same amount of FT hours for each company each month than the companies need to determine which one will consider him a FT employee. If they cannot make that determination the IRS will. He will not be listed on the other company’s 1095-C. Keep in mind if he worked FT for one company for the first two months and then FT for the other company for the next ten months, he would receive two 1095-C’s.
New for 2015, large employers are required to give employees who are deemed full-time under the Affordable Care Act (ACA), more commonly known as Obamacare, a Form 1095-C. This form will let employees and the IRS know what type of insurance coverage, if any, was offered to employees. Employees should provide this document to their individual tax preparer when filing their individual tax return. For more information about this form please visit the IRS website.
With tax season now in full swing, employers are busy preparing to distribute W2s and file taxes. However, an alarming amount of businesses are unaware of two very important forms that may be required. Companies can be fined thousands of dollars for failure to file. A recent CNBC article explains.
The IRS recently extended the due dates for the Affordable Care Act information reporting requirements. Read our recent article to learn more.
Effective November 2, 2015, President Obama signed into a law a budget agreement repealing the Affordable Care Act provision requiring employers with more than 200 employees to automatically enroll full-time employees into a health plan offered by the employers.
Background: One of the provisions in the ACA was to mandate employers with more than 200 full-time employees to automatically enroll newly hired full-time employees after their waiting period. This provision however was put on hold until future guidance was issued. At this time President Obama has repealed this provision.
Contact your Health Care Reform Specialist with questions.