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Entries by ACA Reporting Blog

CPAs Performing ACA Reporting … Pay Attention to HIPAA Compliance

In working with CPAs across the county, we have found that the overwhelming majority have not been aware that in order to perform Affordable Care Act (ACA) reporting on forms 1095-B and 1095-B for their clients that they must be HIPAA Compliant.  The confusion is understandable, since this likely is the first time they have ever really dealt with Protected Health Information (PHI).  Employee benefit brokers typically work with PHI on a daily basis every day, and thus are familiar with the requirements, such as entering into a business associate agreement with your client.  However on the whole, we are […] Read more

ACA Reporting Delay: Impact On Individual Tax Filings

One of the most common questions we are receiving is regarding the impact to employees filing their own personal taxes now that there has been an extension of time allowing employers and organizations until the end of March 2016 to supply forms 1095-B and 1095-C to their employees.  The concern rises when employers consider how employees can complete their normal tax filings without being provided the forms showing their health coverage for the year.

The IRS recently released some guidance to assist us with understanding this topic.  In their guidance they have said, “Due to these [ACA reporting] extensions, some individual […] Read more

IRS Changes ACA Reporting Deadlines …

Today the IRS and Treasury Department released guidance extending some of the Affordable Care Act reporting guidelines.  Simply put, the extensions will allow for the following:

Employers will have an additional two months (until the end of March 2016) to provide employees with the forms 1095-B and 1095-C, and
Employers will have an additional three months to file with the IRS.  

New paper form filing deadline:  May 31st, 2016
New e-filing form filing deadline:  June 30th, 2016

To learn more you can see the actual guidance by clicking here.

[…] Read more

Is ACA Reporting More Payroll or Benefits Related?

A common question in the marketplace is ‘what exact information is necessary to complete the Affordable Care Act (ACA) reporting’, which is required for employers for the first time regarding the 2015 calendar year.  To assist, we have created a list below of the types of data necessary as well as who will likely have that information.  

Many employers and benefit brokers originally made the assumption that ACA reporting would best be performed as an additional function of a company’s payroll provider.  However, now as the time comes to actually perform the reporting they understand that ACA reporting requires much […] Read more

ACA Reporting Extensions … What you need to know

Just like most things Affordable Care Act (ACA) related, there is a significant amount of confusion about how the ACA reporting extension works.  Hopefully this article will help …

The first thing you need to know is that there are actually TWO DIFFERENT extensions employers need to know about.

First, you can receive an extension by sending the required ACA reporting to the IRS
Secondly, there is a completely separate process to request an extension regarding providing the forms to your employees

1).  As an Applicable Large Employer (ALE), employers must file the appropriate forms 1094 and 1095 with the IRS.  Should you need additional time […] Read more

ACA Reporting That ‘Creates The Codes’…

Due to the number of questions we still receive on this issue, we thought it would be helpful to post so that everyone knows our process for creating ACA reporting fully completes all of the codes necessary on form 1095-C lines 14 and 16 on behalf of our clients.  This is by far the most complex portion of the ACA reporting and yet many reporting vendors in the marketplace require the employer to create these codes.  If you have read through the IRS guidance on reporting, you understand that this is a problem due to the complexity and is the […] Read more

Payroll Vendor ACA Reporting Causing More Benefit Broker Work …

If you are a benefit broker you might be in for a special 2015 Christmas surprise but not in a good way.  A question for you:

Did any of your clients use their payroll vendor to do this reporting? (answer is usually yes)
Have you heard from these clients yet? (answer is usually no)

You need to know that you will hear from them very soon. Why? The reason is twofold.

First, the payroll vendor almost never has all of the information necessary to complete the reporting from a medical plan standpoint.  Instead, they require their clients to enter that data and do not […] Read more

Designated Governmental Entity (DGE) Did Not Fully Report on ACA To IRS …

Many municipal and other governmental entity types have been surprised by the fact that their Designated Governmental Entity has not reported all of the necessary information to the IRS as they assumed would happen.  Under the Affordable Care Act (ACA), Applicable Large Employer (ALEs) must report to the IRS on the type of plans that were offered to their employees, the costs of these plans, and who was covered under the plan.  For some governmental groups (we will call these ‘primary’) they might have a separate governmental entity that has some of their employees covered and who have agreed to […] Read more

ACA Reporting Software Provider [15 Question Quiz]

ACA Reporting Software Provider [15 Question Quiz]

Let’s face it, the marketplace is confused when it comes to ACA Reporting.  Since this is the first year of mandatory reporting, how can you know if your vendor ‘knows their stuff’ when it comes to ACA Reporting?  To help employers, we have created a quiz to assist you in researching ACA Reporting Software providers.  These questions are specifically designed to help an employer determine if their vendor has the necessary knowledge to support them through the ACA reporting process.

Do fully insured employers need to report?  If so, what type of reporting do they need to do [what forms, etc]?
Who […] Read more

ACA Reporting to Become Your Broker?

With the rise of employee benefit brokerage firms having full service HR administration capabilities (such as Zenefits), it shouldn’t be surprising that these firms are using ACA reporting as a wedge to become the broker on all lines of business for large employers.  We speak with dozens of benefit brokers every week, and in the past 30 days this sales pitch has picked up significant steam.  Recently we interviewed one of the senior most employee benefit experts in the country to see what his thoughts were on this trend.

“It was just a matter of time.  The marketplace, and many benefit […] Read more