This document provides a step-by-step guide to completing Forms 1095-B and 1094-B for reporting health insurance coverage information to the IRS under the Affordable Care Act. It explains the purpose of the forms is to verify which individuals had health insurance coverage to avoid penalties. It outlines how to fill out each section of the forms including covered individuals' identifying information and months of coverage. Employers that are self-insured will report using Form 1095-B that gets sent to covered individuals and to the IRS, along with a transmittal Form 1094-B coversheet stating the number of 1095-B forms.
This document contains information for tracking Affordable Care Act (ACA) compliance. It includes sections for entering employee data like name, SSN, and address. Codes are provided for indicating the type of health coverage offered to employees, such as minimum essential coverage providing minimum value offered to the employee and dependents. Instructions are given for determining affordability safe harbors and reporting coverage for variable hour and seasonal employees. The document discusses ACA Track's ability to administer and track dependent information as required by regulations.
1) The document discusses the key provisions and requirements of the Affordable Care Act for individuals, employers, and health plans in 2014, including the individual mandate penalties, employer shared responsibility rules, and new reporting requirements.
2) It predicts that employers will move to private health insurance exchanges and defined contribution plans for insurance instead of defined benefit plans.
3) Large employers will be required to file new information returns (Forms 1095-B and 1095-C) in 2015 and later years to report on health plan coverage provided to employees and their dependents.
Join us for an inside look at the health reimbursement arrangement (HRA) and how it works.
In this webinar, we cover the basics of HRA compliance, what you need to know before offering an HRA, and how PeopleKeep's software helps along the way.
Our hosts are HRA compliance experts Nick Green and Jon Gelwix.
Health Reform Bulletin 116 Year End Wrap Up 12-29-15Daniel Michels
The most recent CBIZ Health Reform Bulletin: Year-End Wrap Up (HRB 116). This issue includes specific information and guidance on:
1. Late breaking development, IRS delays new Affordable Care Act's (ACA) reporting and disclosure obligations!
2. On December 18, 2015 Consolidate Appropriations Act, 2016, and the Protecting Americans from Tax Hikes (PATH) Act of 2015 (H. R. 2029; now Public Law No. 114-113) were signed by the President, and amend several provisions of the Affordable Care Act.
3. The IRS Issued guidance relating to ACA implementation
4. Year-End Reminders
The document summarizes provisions of the American Recovery and Reinvestment Act of 2009 regarding subsidies for COBRA health insurance premiums. It provides details on eligibility requirements, the amount of subsidies, how subsidies are administered and reimbursed, notification requirements, and income limits for receiving subsidies. The key points are that the Act provides subsidies of 65% of COBRA premiums for involuntarily terminated workers for up to 9 months, subsidies are claimed as a tax credit by employers/plans, and certain income thresholds apply for subsidy eligibility.
Health Reform Bulletin: Implementation Guidance & ACA UpdatesCBIZ MHM, LLC
1) Distribution of Marketplace Notice to Employees; 2) 90-day Waiting Period; 3) Individual Shared Responsibility- Final Regulations; 4) Employer Appeals in Marketplace Eligibility Determinations; 5) Small Business Tax Credit; 6) Preventive Care - Health Saving Accounts; and 7) Internal Claims, Appeals and External Review: Providing Culturally and Linguistically Appropriate Notices
This document summarizes aspects of the Affordable Care Act (ACA) for employers, including: how to determine if an employer is an applicable large employer subject to the employer mandate; the employer mandate requirements around offering affordable minimum essential coverage; potential penalties for non-compliance; and other ACA provisions impacting employers. It provides an overview of the employer shared responsibility rules, measurement periods, and affordability safe harbors. It also discusses other ACA topics like the individual mandate, essential health benefits, taxes and fees, and grandfathered health plans.
This document contains information for tracking Affordable Care Act (ACA) compliance. It includes sections for entering employee data like name, SSN, and address. Codes are provided for indicating the type of health coverage offered to employees, such as minimum essential coverage providing minimum value offered to the employee and dependents. Instructions are given for determining affordability safe harbors and reporting coverage for variable hour and seasonal employees. The document discusses ACA Track's ability to administer and track dependent information as required by regulations.
1) The document discusses the key provisions and requirements of the Affordable Care Act for individuals, employers, and health plans in 2014, including the individual mandate penalties, employer shared responsibility rules, and new reporting requirements.
2) It predicts that employers will move to private health insurance exchanges and defined contribution plans for insurance instead of defined benefit plans.
3) Large employers will be required to file new information returns (Forms 1095-B and 1095-C) in 2015 and later years to report on health plan coverage provided to employees and their dependents.
Join us for an inside look at the health reimbursement arrangement (HRA) and how it works.
In this webinar, we cover the basics of HRA compliance, what you need to know before offering an HRA, and how PeopleKeep's software helps along the way.
Our hosts are HRA compliance experts Nick Green and Jon Gelwix.
Health Reform Bulletin 116 Year End Wrap Up 12-29-15Daniel Michels
The most recent CBIZ Health Reform Bulletin: Year-End Wrap Up (HRB 116). This issue includes specific information and guidance on:
1. Late breaking development, IRS delays new Affordable Care Act's (ACA) reporting and disclosure obligations!
2. On December 18, 2015 Consolidate Appropriations Act, 2016, and the Protecting Americans from Tax Hikes (PATH) Act of 2015 (H. R. 2029; now Public Law No. 114-113) were signed by the President, and amend several provisions of the Affordable Care Act.
3. The IRS Issued guidance relating to ACA implementation
4. Year-End Reminders
The document summarizes provisions of the American Recovery and Reinvestment Act of 2009 regarding subsidies for COBRA health insurance premiums. It provides details on eligibility requirements, the amount of subsidies, how subsidies are administered and reimbursed, notification requirements, and income limits for receiving subsidies. The key points are that the Act provides subsidies of 65% of COBRA premiums for involuntarily terminated workers for up to 9 months, subsidies are claimed as a tax credit by employers/plans, and certain income thresholds apply for subsidy eligibility.
Health Reform Bulletin: Implementation Guidance & ACA UpdatesCBIZ MHM, LLC
1) Distribution of Marketplace Notice to Employees; 2) 90-day Waiting Period; 3) Individual Shared Responsibility- Final Regulations; 4) Employer Appeals in Marketplace Eligibility Determinations; 5) Small Business Tax Credit; 6) Preventive Care - Health Saving Accounts; and 7) Internal Claims, Appeals and External Review: Providing Culturally and Linguistically Appropriate Notices
This document summarizes aspects of the Affordable Care Act (ACA) for employers, including: how to determine if an employer is an applicable large employer subject to the employer mandate; the employer mandate requirements around offering affordable minimum essential coverage; potential penalties for non-compliance; and other ACA provisions impacting employers. It provides an overview of the employer shared responsibility rules, measurement periods, and affordability safe harbors. It also discusses other ACA topics like the individual mandate, essential health benefits, taxes and fees, and grandfathered health plans.
This document provides information about new health insurance options through the Health Insurance Marketplace beginning in 2014. It summarizes that the Marketplace allows people to compare and purchase private health insurance, and may offer premium tax credits. While the Marketplace is an option, employer-provided health coverage could affect eligibility for savings. Contact information is provided to learn more about options through the Marketplace or employer plan.
In early July, the Department of Treasury announced it is delaying a key mandate of the Affordable Care Act: what's known as the 'Pay or Play' mandate. While pushing pause on this mandate gives large employers another year to prepare, we strongly advise businesses not to wait to start making strategic decisions. For more information, contact Fraser Trebilcock Senior Health Care and Business Attorney Mike James at mjames@fraserlawfirm.com or 517.377.0823. You can also find more information at www.milhealthlaws.com.
The document provides an overview of key provisions of the Affordable Care Act (ACA) for employers, including requirements for large employers to offer affordable minimum essential health coverage. It defines terms like full-time employees, dependents, minimum essential coverage, affordability, minimum value, and outlines penalties for noncompliance. It advises employers to assess their status as a large employer based on employee headcount, identify which employees must be offered coverage, ensure coverage meets affordability and minimum value standards, and consider actions needed like amending cafeteria plans to prepare for 2014 requirements.
Cadillac Tax for Employers 101 - How to Avoid Penalties?benefitexpress
This webinar covers: what coverages are subject to the tax, how the excise tax is determined, what adjustments will be available in determining the tax, and who collects the tax.
What Changes to Expect from the new Healthcare Law, presented by The National Federation of Independent Business, the leading small business association.
This document discusses employee benefits offered by hospitals, including benefits that are tax-free or taxed at preferential rates, as well as benefits where tax liability is deferred. It provides an example to calculate the total value of benefits for a hypothetical hospital employee. The total value of benefits for this employee, including payroll tax contributions, retirement plan contributions, paid time off, health care, life insurance and long-term disability, is over $21,000, representing approximately 30% of their total compensation.
This document provides an overview of the Affordable Care Act for employers and individuals. It discusses the individual mandate requiring most Americans to have health insurance beginning in 2014. It also reviews the employer shared responsibility provisions, including the requirements for applicable large employers to offer affordable and adequate coverage to full-time employees or potentially face penalties. Additionally, it explains the operation and purpose of the health insurance exchanges and subsidies available to help make coverage more affordable.
The document provides an end-of-year wrap-up and reminders relating to Affordable Care Act (ACA) compliance in 2015. Key updates include: the Supreme Court agreeing to hear a case on premium tax credits; guidance clarifying that "skinny plans" must meet minimum value standards; and FAQs further prohibiting cash incentives for individual coverage. It also reminds readers of ACA provisions taking effect in 2015, such as out-of-pocket limits and the employer shared responsibility requirement.
1) This document provides information about new Affordable Care Act reporting requirements for employers regarding health insurance coverage offered to employees.
2) Section 6055 requires all employers that provide minimum essential health coverage to file information returns and furnish statements to individuals. Section 6056 requires employers with 50 or more full-time employees to report offers of health insurance.
3) Employers must file Forms 1094-B, 1095-B, 1094-C, and 1095-C by January 31st (or February 29th/March 31st if filing electronically or by paper) to report health coverage information to the IRS and employees.
A Premium Only Plan (POP) allows employees to pay their portion of health insurance premiums with pre-tax dollars, saving them 22.65-40% in federal, state, and local taxes. Employers also benefit from establishing a POP by eliminating payroll taxes of up to 7.65% on employee premium payments. Any type of business can set up a POP, though owners may not participate directly. A POP can be started at any time during the year, including mid-year, and is especially beneficial during health insurance renewal periods when rates typically increase.
Worldwide benefits-Social Security: Planning Your RetirementCarol Buckmann
The document provides information about Social Security benefits. It discusses that 59 million people receive benefits, including retired workers, disabled workers, widows/widowers, and children of deceased workers. It also summarizes the different types of Social Security benefits like retirement benefits, disability benefits, survivors benefits, and Medicare. The document explains how to qualify for and apply for these different Social Security programs.
This document summarizes retirement benefits for central government employees in India. It discusses pension benefits including minimum eligibility, calculation of pension, and family pension. It also covers commutation of pension, death/retirement gratuity, general provident fund, contributory provident fund, leave encashment, and group insurance schemes. Some tips for retirement planning are provided, emphasizing the importance of starting to save early and making retirement a top financial priority.
What do you offer your employees to keep them satisfied? how do you compare to the market? what areas should you focus on to ensure you become and employer of choice?
This document provides information about Social Security benefits in the United States. It discusses who is eligible for benefits, how benefits are calculated, and how non-covered pensions from government employment can affect Social Security benefits through provisions like the Windfall Elimination Provision and Government Pension Offset. The document also includes examples of how these provisions are applied to calculate benefit amounts.
This document is a Social Security statement that provides Mark Bizzelle with information about his estimated Social Security benefits, earnings record, and important facts about Social Security. It estimates that Mark has paid over $11,000 in Social Security taxes and $2,700 in Medicare taxes based on his recorded earnings. The statement notes that benefit estimates may differ from actual benefits due to future earnings changes, cost of living adjustments, or changes to the law. It also explains provisions like the Windfall Elimination Provision that could impact Mark's benefits. The statement encourages Mark to review his earnings record for accuracy and completeness.
With eligibility tracking, employer notifications and reporting, FBS offers a stand-alone tracking system to ensure all employer compliance with the Affordable Care Act’s “Employer Mandate” Reporting Requirements (1094 C and 1095 C).
Hosted by SterlingRisk and Presented by Stacy Barrow, Esq. from Marathas Barrow Weatherhead Lent LLP
Stacy Barrow, one of the nation's leading experts on the Affordable Care Act covered the following:
- The final ACA reporting forms and instructions that were recently released by the IRS.
- Discussion regarding the offer of coverage and the safe harbor codes.
- The various forms of transition relief.
- Other tips and tricks for employers completing the forms, including how to address opt-out payments provided to employees who decline coverage and how to handle reporting errors due to names and SSNs/TINs not matching IRS records.
- and much more...
This document provides information about new health insurance options through the Health Insurance Marketplace beginning in 2014. It summarizes that the Marketplace allows people to compare and purchase private health insurance, and may offer premium tax credits. While the Marketplace is an option, employer-provided health coverage could affect eligibility for savings. Contact information is provided to learn more about options through the Marketplace or employer plan.
In early July, the Department of Treasury announced it is delaying a key mandate of the Affordable Care Act: what's known as the 'Pay or Play' mandate. While pushing pause on this mandate gives large employers another year to prepare, we strongly advise businesses not to wait to start making strategic decisions. For more information, contact Fraser Trebilcock Senior Health Care and Business Attorney Mike James at mjames@fraserlawfirm.com or 517.377.0823. You can also find more information at www.milhealthlaws.com.
The document provides an overview of key provisions of the Affordable Care Act (ACA) for employers, including requirements for large employers to offer affordable minimum essential health coverage. It defines terms like full-time employees, dependents, minimum essential coverage, affordability, minimum value, and outlines penalties for noncompliance. It advises employers to assess their status as a large employer based on employee headcount, identify which employees must be offered coverage, ensure coverage meets affordability and minimum value standards, and consider actions needed like amending cafeteria plans to prepare for 2014 requirements.
Cadillac Tax for Employers 101 - How to Avoid Penalties?benefitexpress
This webinar covers: what coverages are subject to the tax, how the excise tax is determined, what adjustments will be available in determining the tax, and who collects the tax.
What Changes to Expect from the new Healthcare Law, presented by The National Federation of Independent Business, the leading small business association.
This document discusses employee benefits offered by hospitals, including benefits that are tax-free or taxed at preferential rates, as well as benefits where tax liability is deferred. It provides an example to calculate the total value of benefits for a hypothetical hospital employee. The total value of benefits for this employee, including payroll tax contributions, retirement plan contributions, paid time off, health care, life insurance and long-term disability, is over $21,000, representing approximately 30% of their total compensation.
This document provides an overview of the Affordable Care Act for employers and individuals. It discusses the individual mandate requiring most Americans to have health insurance beginning in 2014. It also reviews the employer shared responsibility provisions, including the requirements for applicable large employers to offer affordable and adequate coverage to full-time employees or potentially face penalties. Additionally, it explains the operation and purpose of the health insurance exchanges and subsidies available to help make coverage more affordable.
The document provides an end-of-year wrap-up and reminders relating to Affordable Care Act (ACA) compliance in 2015. Key updates include: the Supreme Court agreeing to hear a case on premium tax credits; guidance clarifying that "skinny plans" must meet minimum value standards; and FAQs further prohibiting cash incentives for individual coverage. It also reminds readers of ACA provisions taking effect in 2015, such as out-of-pocket limits and the employer shared responsibility requirement.
1) This document provides information about new Affordable Care Act reporting requirements for employers regarding health insurance coverage offered to employees.
2) Section 6055 requires all employers that provide minimum essential health coverage to file information returns and furnish statements to individuals. Section 6056 requires employers with 50 or more full-time employees to report offers of health insurance.
3) Employers must file Forms 1094-B, 1095-B, 1094-C, and 1095-C by January 31st (or February 29th/March 31st if filing electronically or by paper) to report health coverage information to the IRS and employees.
A Premium Only Plan (POP) allows employees to pay their portion of health insurance premiums with pre-tax dollars, saving them 22.65-40% in federal, state, and local taxes. Employers also benefit from establishing a POP by eliminating payroll taxes of up to 7.65% on employee premium payments. Any type of business can set up a POP, though owners may not participate directly. A POP can be started at any time during the year, including mid-year, and is especially beneficial during health insurance renewal periods when rates typically increase.
Worldwide benefits-Social Security: Planning Your RetirementCarol Buckmann
The document provides information about Social Security benefits. It discusses that 59 million people receive benefits, including retired workers, disabled workers, widows/widowers, and children of deceased workers. It also summarizes the different types of Social Security benefits like retirement benefits, disability benefits, survivors benefits, and Medicare. The document explains how to qualify for and apply for these different Social Security programs.
This document summarizes retirement benefits for central government employees in India. It discusses pension benefits including minimum eligibility, calculation of pension, and family pension. It also covers commutation of pension, death/retirement gratuity, general provident fund, contributory provident fund, leave encashment, and group insurance schemes. Some tips for retirement planning are provided, emphasizing the importance of starting to save early and making retirement a top financial priority.
What do you offer your employees to keep them satisfied? how do you compare to the market? what areas should you focus on to ensure you become and employer of choice?
This document provides information about Social Security benefits in the United States. It discusses who is eligible for benefits, how benefits are calculated, and how non-covered pensions from government employment can affect Social Security benefits through provisions like the Windfall Elimination Provision and Government Pension Offset. The document also includes examples of how these provisions are applied to calculate benefit amounts.
This document is a Social Security statement that provides Mark Bizzelle with information about his estimated Social Security benefits, earnings record, and important facts about Social Security. It estimates that Mark has paid over $11,000 in Social Security taxes and $2,700 in Medicare taxes based on his recorded earnings. The statement notes that benefit estimates may differ from actual benefits due to future earnings changes, cost of living adjustments, or changes to the law. It also explains provisions like the Windfall Elimination Provision that could impact Mark's benefits. The statement encourages Mark to review his earnings record for accuracy and completeness.
With eligibility tracking, employer notifications and reporting, FBS offers a stand-alone tracking system to ensure all employer compliance with the Affordable Care Act’s “Employer Mandate” Reporting Requirements (1094 C and 1095 C).
Hosted by SterlingRisk and Presented by Stacy Barrow, Esq. from Marathas Barrow Weatherhead Lent LLP
Stacy Barrow, one of the nation's leading experts on the Affordable Care Act covered the following:
- The final ACA reporting forms and instructions that were recently released by the IRS.
- Discussion regarding the offer of coverage and the safe harbor codes.
- The various forms of transition relief.
- Other tips and tricks for employers completing the forms, including how to address opt-out payments provided to employees who decline coverage and how to handle reporting errors due to names and SSNs/TINs not matching IRS records.
- and much more...
The affordable care act power point (updated) againRobin Lee
The document provides information about the Affordable Care Act (ACA) and enrolling in health insurance plans. It explains that the ACA provides protections like coverage for pre-existing conditions. It also details the essential health benefits that all plans must cover. The document guides readers through determining whether to enroll on or off the exchange marketplace and calculating subsidies. It describes the different metal-tiered plan levels (Bronze, Silver, Gold, Platinum) and their coverage amounts. Lastly, it provides contact information for RLee Insurance Solutions to assist with enrollment questions.
Please Help Me Understand the Affordable Care Act....No Politics Please!!!!HRBIMS
The document defines key terms related to the Affordable Care Act, provides some statistics, discusses the year 2015, and notes that forms can be found. Specifically, it defines terms like essential health benefits, grandfathered health plans, and the health insurance marketplace. It also outlines the different categories of health plans in the marketplace based on costs and covers.
Reporting Requirements for Every Business
At the minimum, the IRS requires every employer to document, track and prove their employer status. Get the complete break down of requirements for employee counts from 0 to 100+.
Learn Critical Terms You Need to Know
From Form 1095-C to Safe Harbor Rules, we break down the most frequently used ACA terms employers will encounter.
Get A Blueprint for Measurement Periods
Break down the who, what, and how of ACA reporting to learn how to measure data for new hires and current employees.
Break Down the Form 1095-C by Sections
Get a clear understanding of the Form 1095-C and navigate the tougher sections to know what information you’ll need to file to avoid costly penalties.
Here at BambooHR we don't claim to be ACA consultants; however, we are employee data experts, so we want to help with ACA where we can. We’re not only beefing up some of our existing features and reporting to help make your life easier when you’re preparing ACA forms, but we’re also adding some nice tools to save you time as you enter the world of ACA compliance. In this webinar we will review some of the key points of the ACA Employer Mandate and even walk you through how we are going to comply with ACA here at BambooHR!
This document summarizes the key compliance requirements and updates related to the Affordable Care Act (ACA) for 2016. It discusses ongoing employer responsibilities under the employer mandate, measurement periods for determining employee status, reporting requirements, and penalties for noncompliance. It also outlines delays and potential repeals of certain ACA provisions and compliance tips for employers, such as maintaining documentation and ensuring plan documents are updated. The impact of the ACA to date on employers and uncertainty around the future of the law given the political environment are also addressed.
Form 1095-B For Organizations Employing Less Than 50 EmployeesCBIZ, Inc.
Form 1095-B provides information regarding any coverage you may have been enrolled in during the 2015 calendar year with a given insurance carrier. It will also list your spouse and/or any dependents who may have been enrolled in that same health plan. You can use the information on this form as proof of coverage for yourself and your enrolled family members. This information is proof to the IRS that you do not owe a penalty tax due to being uninsured.
Mbwl aca prime - employer's guide to aca reporting 1-9-2017Brett Bussell
This document provides an overview of the reporting requirements and forms for employers under Sections 6055 and 6056 of the Affordable Care Act for 2016. It reviews the purpose and deadlines for Forms 1094-C, 1095-C, 1094-B, and 1095-B. Key topics covered include how to report qualifying offers, transitional relief, and guidance on correcting errors. Tips are also provided on reporting COBRA and opt-out payments. The requirements are complex due to how different sections of the ACA apply to various entity types.
Health Care: Understanding the Future, a Canadian Perspective by Carolyn Benn...neelumaggarwal
In April of 2010, the Canada US Business Council (formerly the Canadian Club of Chicago), hosted Dr. Carolyn Bennett, Liberal Critic for Health, Parliament of Canada. This talk gave the Canadian perspective on health care in addition to showing the similarities and differences between the two health care systems.
Lone Star Consulting Firm submitted a proposal to Alamo Research Institute for an Innovative Capabilities Audit. The audit will evaluate ARI's strategic management capacity, resource availability and allocation, capacity to understand technological environments, and ability to perform competition analyses. A formal report of the results will be submitted to help ARI make informed decisions.
This document discusses whether Americans have a moral right to healthcare. It examines vital elements like codes of ethics, quality of care, and resource allocation that are necessary for a healthcare system to function properly and ensure people receive the medical treatment they need. The conclusion is that access to healthcare is a moral right that is directly connected to the constitutional right to life. Without these vital elements, medical practitioners could prioritize money over care and people may not receive proper treatment or could avoid seeking care altogether.
The document discusses the history and implementation of the Affordable Care Act (ACA) in the United States. It passed in 2010 with the goals of increasing access to healthcare and reducing costs. While it helped reduce the uninsured rate, there have been ongoing issues with the healthcare exchanges and limited provider networks. The execution of the ACA has contributed to a shortage of primary care doctors due to compensation rates and impacted jobs and small businesses with its coverage mandates. Educating new doctors and nurses will take years to address the increased demand caused by the ACA.
Delta airlines - Gamification in training and development - Manu Melwin Joymanumelwin
Ryan Mizusaki, manager of information technology at Delta, shared the full story of how Delta arrived at a gamified training plan to learn about flight culture development adopted by 98% of its trainees.
Understanding the Connection Between Tax Filing and Health CoverageEnroll America
This document provides an overview of how the Affordable Care Act impacts tax filing. It discusses reporting health coverage status, the premium tax credit for marketplace coverage, and exemptions from the individual mandate penalty. It explains the new Form 1095-A for marketplace enrollees and Form 8962 for reconciling advance premium tax credits. The document also reviews options for free tax preparation assistance and additional online resources for questions about ACA tax provisions.
Health Reform Bulletin: Finalized ACA Reporting Forms & Employer Appeals to M...CBIZ, Inc.
This bulletin details the release of a number of forms and compliance tools to assist employers subject to the Affordable Care Act’s (ACA) Shared Responsibility Requirements to comply with the law. Of particular note, the finalized version of the forms used to satisfy the IRC Section 6056 and 6055 reporting requirements, together with the related instructions, have been issued. While the forms released last week were for the 2014 calendar year reporting (the voluntary reporting year for all employers), it is presumed the mandatory forms to be released for 2015 reporting later this year will be quite similar to those just issued.
This document is an IRS Form 1095-C for an employee of an Applicable Large Employer. It summarizes the health insurance coverage offered by the employer to the employee.
The form provides information about the employee and employer in Part I. Part II indicates the health insurance coverage offered to the employee each month of the year. Part III lists any individuals, including the employee and family members, who were covered under the employer's self-insured health plan for some or all months of the year.
This document summarizes a webinar on employment issues related to the COVID-19 pandemic. It discusses topics like furloughs versus layoffs, unemployment compensation, employer liability for employees contracting COVID-19 at work, new sick leave and FMLA policies, screening employees, and guidelines for returning to work. For layoffs and furloughs, it provides checklists of legal issues and a 10-step process for managing legal risks in layoffs. It also discusses how the new Utah immunity law protects businesses from liability for customers contracting COVID-19, but does not change employer liability for employees.
Want to understand how our population is aging and what it means for you? Want an Action Plan for retirement? Use Abaris' simple tutorial to get answers to these questions and more.
Science has proved it: people today are living longer than ever before. But as average life expectancies have been rising, the mean retirement age has stayed more or less the same. Since 1940 the average life span has gone up about 17 years, now at about age 79, yet the average age of retirement is more or less the exact same, about 65 years old. That leaves a big gap of your life filled without a paycheck, which is why Social Security, pensions and retirement income products are so important.
Despite the importance of Social Security and pension plans, fewer people than ever have pensions today and Social Security rarely covers all of a retiree’s expenses. On average, money received from Social Security only makes up about 42% of an individual’s pre-retirement income. Additionally, Social Security reserves are suffering from underfunding, and are expected to run out by 2033 under current law. Pension plans are great in that they guarantee a lifetime income, but they’re becoming more and more rare. Today, the predominant form of individual retirement savings is in 401(k)s and IRAs. But those plans don’t automatically provide lifetime income, leaving people to struggle with longevity risk: the chance that you live far longer than you expect. If you lead a long healthy life, as you certainly hope to, you’d end up running out of your savings.One solution? Deferred income annuities.
A deferred income annuity is a way of insuring against longevity. You make a payment, or series of payments, to an insurance company. Insurance companies are able to pool risk and use the market for pooling and protection in ways that you can’t on your own. This allows them to pay you an annual income, beginning at some future date, for the rest of your life. Surely stocks tend to yield a greater financial return, but with a deferred income annuity the value is in the guaranteed protection and the peace of mind. Deferred income annuities aren’t right for everyone. If you’re younger than 45, in below average health, most concerned about passing money onto your heirs, able to “self-insure” off the wealth of your investment income, or if you haven’t saved enough and need to keep the money you have in case of emergency then you’re probably not the best fit for a deferred income annuity. But otherwise, you’re looking like a great candidate.
Health Reform Bulletin Oct, 2015 - Amendments to the small employer definitio...CBIZ, Inc.
The latest Health Reform Bulletin is here! This bulletin is chock full of information from a new law that amends the definition of small employer, finalized ACA reporting forms 1094 and 105 and adjusted PCORI fees and much more. Check out some more in-depth information above.
This document provides information about the tax consequences of the Affordable Care Act for individuals. It discusses two new taxes enacted by the ACA - the additional 0.9% Medicare tax on wages and self-employment income and the 3.8% Net Investment Income Tax. It explains how to report minimum essential health coverage, exemptions from the coverage requirement, and how to calculate the individual shared responsibility payment for those without qualifying coverage.
Staying Up to Date on Required Health Care Reportingbenefitexpress
This presentation reviews:
• When temporary employees become your employees
• The factors the government uses to determine employment status
• The steps you can take to avoid these employees becoming your employees
• Consequences under Health Care Reform if it is determined that they are your employees
Piece of Cake: Perfecting the Recipe for ACA Compliancebenefitexpress
Repeal and replace efforts have come and gone - it's time to prepare to comply with the Affordable Care Act for another year.
With chatter and speculation surrounding the ACA, it's easy to lose track of what's required of employers. Our one-hour refresher course covers:
- How to fill out form 1095-C
- Important filing dates
- Common compliance errors
- Penalties for noncompliance
Make this year’s ACA reporting a piece of cake.
This document provides instructions and information for taxpayers regarding Form 1095-C. It states that Form 1095-C is an early draft that should not be filed and should not be relied upon for tax filing purposes. The draft form and instructions are subject to change before final approval and release. The document provides background information on the purpose of Form 1095-C and who it is furnished to. It also provides an overview of the information reported on the form, including coverage offered by an employer and enrollment in employer-sponsored health plans.
Affordable Care Act Employer QuickBooks 1095 C Learn more.docxwrite4
Form 1095 forms are IRS forms used to report employee health insurance coverage as mandated by the Affordable Care Act. There are three types of Form 1095s: Form 1095-A reports coverage from health insurance marketplaces, Form 1095-B reports minimum essential coverage from health insurance providers, and Form 1095-C reports employer-provided health insurance coverage for employers with 50 or more full-time employees. Employers must provide these forms to employees annually by February 28th and file them with the IRS by February 28th or March 31st depending on filing method. Form 1095-B must be filed by employers with under 50 employees who provide minimum essential health coverage to employees, while Form 1095-C
- The document discusses communications that some employers have received from the Department of Health and Human Services (HHS) and the Centers for Medicare & Medicaid Services (CMS) regarding Transitional Reinsurance Fee (TRF) payments for 2014. These communications were inadvertently sent to some employers even when the insurance company had submitted the payment.
- CMS has provided guidance for employers to respond to these communications by indicating whether their insurance company submitted the TRF payment on their behalf. If so, employers will need to contact their insurance company for details on the payment submission to provide CMS.
- The guidance aims to help CMS reconcile records by confirming whether TRF payments were made for covered employers and collecting additional information from insured employers where
This document provides an overview of workers' compensation insurance. It begins with a brief history of workers' compensation, which originated in ancient laws but became formalized in the late 19th/early 20th century in response to unsafe working conditions during industrialization. The document then outlines the standard benefits provided by modern workers' compensation policies, including medical care, wage replacement, vocational rehabilitation, death benefits, and employer's liability insurance. It concludes by explaining the basics of how workers' compensation works and an employer's obligations.
Health Reform Bulletin 119 | Best Practices for Employer Responses to Marketp...CBIZ, Inc.
Many employers may be receiving marketplace notices indicating that certain of their employees have been granted premium assistance. Rumor has it that a big batch of these notices was sent out in late June. What should employers do in response to these notices?
Tracking Medical Bills_ Eleven Questions To AskMichael783Beam3
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4. This guide assumes you know how the Employer Mandate
basically works under the Affordable Care Act.
4
5. Which brings me to a very important point. The reporting
requirements are their own separate, free-standing requirement
under the Affordable Care Act.
5
6. You might be asking yourself what makes me an authority on the
subject.
6
7. That is a great question and a question that does not get asked
enough by people researching the ACA.
7
8. I’ve helped hundreds of employers since the Affordable Care Act
was signed on March 23, 2010.
8
9. I’ve written scholarly articles for peer-reviewed legal journals on
the Affordable Care Act.
9
10. I’ve written three editions of a comprehensive guide on the
Affordable Care Act called The Employer Mandate Handbook. The
third edition will be out in mid-August 2015.
10
11. When I wrote my articles and books, I tried to cite as many as my
claims as possible.
11
12. I have spent years working on this stuff every day.
12
13. I have been quoted in the Houston Chronicle, Forbes, and have
been interviewed by the New York Times.
13
14. But even after all of that, I don’t know everything, and you should
run (very fast) from anyone that claims they do.
14
15. What I do know is that as far as these reporting requirements are
concerned, it is irrelevant how many employees you had during
2015. All that matters here is whether your medical benefits were
self-insured.
15
16. Again, the only thing that matters is whether you are self-funding
or self-insuring your employees’ health insurance.
16
17. If you do not know the answer to the last slide . . .
17
23. Under the Individual Mandate, the IRS has to identify which
Americans have medical benefits and which do not. Those that do
not, and don’t have an authorized excuse, will pay a financial
penalty.
23
24. Incredibly, the IRS is not just going to take people’s word for it.
They want proof that non-exempt people had insurance when
they claim they have it to avoid paying individual mandate
penalties.
24
25. Under the Employer Mandate, the IRS has to identify whether
Applicable Large Employer Members offered insurance, or the
right kind of insurance, to full-time employees in assessing
financial penalties for those employers.
25
27. Form 1095-B is the proof against which individual claims will be
verified.
27
28. For example, Lennifer Jopez works for Remix Inc. Remix Inc.
offers Lennifer self-insured, self-funded benefits during 2014. In
April 2015, when Lennifer is completing her personal income
taxes, she gets to the line that asks her if she had insurance
during 2014. Lennifer claims to have insurance in 2014.
28
29. The IRS has no way of verifying Lennifer’s claim. Because there is
no insurance company to ask (because Remix is a self-insured,
self-funded employer), the IRS has to get a report from Remix
verifying Lennifer’s coverage.
29
31. You can download Form 1095-B directly from the IRS here:
Form 1095-B
31
32. Always ensure you have the most up-to-date form by going
straight to the IRS website. Try to avoid the common pitfall of
printing 100 of them, putting them in a drawer, and then pulling
them from the drawer. Sooner or later, you will have outdated
forms if you do it this way.
32
33. Ensure you have the correct form by checking the top-left corner
of the form in front of you.
33
37. If you make a mistake and want to correct it by sending in a
subsequent corrected form, you would check the “corrected” box.
If for some reason you want to null and void a form, you can check
that too.
37
41. That is the most current form. This is why it is important to
ensure you have the right form every time you sit down. As of July
24, 2015, that is the most current form.
41
42. We checked the form number.
We checked the form name.
We checked the year.
42
44. Part I, shown below, identifies the covered individual and some
particulars about the health insurance policy involved.
44
45. The responsible individual referenced here is not the employer; it
is the covered individual (usually an employee, like Lennifer
earlier). Do not put the company’s name here.
45
46. The responsible individual’s SSN goes here. If you do not have a
social security number for this individual, you must complete
Line 3’s date-of-birth requirement.
46
47. The important thing to keep an eye on for Line 3 is that it’s not
required if you completed Line 2.
47
48. Remember, this is where the individual lives, not where the
company is located, or where the individual works, etc.
48
49. This is just asking where the policy originated, see the next slide
for the codes.
49
50. A. Small Business Health Options Program (SHOP)
B. Employer-Sponsored Coverage
C. Government-Sponsored Program
D. Individual Market Insurance
E. Multi-Employer Plan
F. Miscellaneous Minimum Essential Coverage
50
51. Dear IRS:
Cool list . . . What the heck do any of those six categories mean in
plain English?
Love,
Humankind
51
52. Small Business Health Options Program (SHOP)
The SHOP is an exchange not much unlike the individual
exchange on which people buy insurance. The most common and
used SHOP exchange is found at healthcare.gov, but the next slide
has every SHOP exchange in every state. If you did not buy your
insurance from one of those websites, you do not have a SHOP
plan.
52
54. Employer-Sponsored Coverage
Any insurance coverage whereby the employer self-insures or
self-funds the insurance benefits provided to Employees qualifies
as Employer-Sponsored Coverage.
54
56. Individual Market Insurance
This will typically be insurance sold through an individual
exchange or marketplace like www.healthcare.gov.
56
57. Multiemployer Plan
Are you a union providing healthcare to union members? No? Do
not worry about this then.
57
58. Miscellaneous Minimum Essential Coverage
-Self-insured student health plans (for 2014 only).
-State high risk pools (for 2014 only).
-Coverage under Medicare Part C (Medicare Advantage).
-Refugee Medical Assistance.
-Coverage provided to business owners who are not
employees.
-Coverage under a group health plan provided through
insurance regulated by a foreign government if:
-A covered individual is physically absent from the U.S. for at
least 1 day during the month; or
-A covered individual is physically present in the U.S. for a
full month and the coverage provides health benefits
within the U.S. while the individual is outside the U.S.
58
59. Spoiler Alert:
Most employers will complete Line 8 with “B” (Employer-
Sponsored Coverage), and the few that do not will probably enter
“A” (SHOP).
59
62. Note that while Part II is only for people that complete Line 8 with
“A” or “B”
62
63. Part III’s objective is to identify the originating entity for the
coverage. For most self-funded, self-insured employers, this will
the Plan Sponsor.
63
64. Line 16:
This is the entity that is ultimately providing the insurance to the
individual in question. For self-insured employers, this will be
the Plan Sponsor’s information.
64
65. Line 17:
What do I do if I do not have an EIN? Can I use some other
number?
65
66. No. If you do not have an EIN number you need to go get one
because you cannot file this form without such a number.
66
70. The contact information for the person that is comfortable
answering questions about the Plan Sponsor, not necessarily an
employer’s representative.
70
72. The first portion of Part III is for covered
individuals (typically, the employee, their
spouse, and dependents, but it could also
include non-employees (COBRA-covered
former employees, directors, and retirees).
72
73. To the right, you will note that you are
asked to either provide the Social Security
Number or the date of birth of the covered
individual. For covered individuals who
are not the employee listed on Line 1, you
can use a Taxpayer Identification Number
instead of a Social Security Number.
73
74. You will be asked to verify
whether the covered individual
had coverage for all 12 months or
if not, to break it up into a month-
by-month report.
74
75. That’s it for Form 1095-B
Note that of the New Reporting Requirement Forms for
Individuals, Form 1095-B is probably the easiest of the bunch.
75
76. Note that Form 1095-B goes to the responsible individuals
themselves (by January 31, 2016), but must also be sent
electronically to the IRS by March 31, 2016.
76
77. Form 1095-Bs must be accompanied by a corresponding
transmittal sheet (Form 1094-B). A transmittal sheet is a fancy
reference to a basic coversheet.
77
80. This is the name of the entity that is sending the Forms. This will
usually be the employer.
80
81. You must have an EIN to complete this form. Also, make sure the
EIN here matches the EIN on the individual Forms 1094-B.
81
82. Remember, that I called this a simple coversheet for your Forms
1095-B. Just put in how many Forms 1095-B are attached to this
particular transmittal.
82
84. Note: I tried my best to ensure that these slides are as accurate
and informative as possible. If I made a mistake, please send
corrections to my email address which appears on the last slide.
84
85. Extra credit for those folks that send corrections with supporting
authority.
85
87. These slides have received thousands of views. I have also
received many emails from folks thanking me for putting them up
online (you’re welcome!).
These slides are supplementary materials to the third edition of
my book, The Employer Mandate Handbook. If you benefited
from these slides, please consider purchasing the book that led to
their creation while helping me pay off my massive student loans.
87
88. ABOUT MARIO. Mario K. Castillo is the General Counsel of the Lone Star College System in Houston, Texas. Prior to
joining the System, he was a labor, employment, and benefits partner at the law firm of Monty & Ramirez LLP in
Houston, Texas, where he helped employers avoid or minimize liability and defended them when litigation was
necessary. Mario also completed a four-year term as briefing attorney to the Honorable Felix Recio of the Southern
District of Texas prior to joining Monty & Ramirez. Mario received a Juris Doctorate from the Maurer School of Law at
Indiana University—Bloomington. Prior to attending law school, Mario received a Bachelor of Arts in Government
from the University of Texas in Austin.
DISCLAIMER. This presentation is for informational purposes only and provides general information concerning
the Affordable Care Act to help you identify when you may need additional advice. It is not an exhaustive treatment of
the statutes, case law or regulations that are involved with the subject. Please recognize that the law is developing
rapidly in this area and you will want to obtain current legal advice on your specific situation before taking action.
88