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ACA Round-Up: June 2016

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The GOP may be offering up alternatives to the ACA, but for now the universal health plan is here to stay and keeps chugging along. Below is a quick round-up of relevant ACA news that came out this month, and could help keep you on track and in compliance.

  • Electronic filing deadline is June 30: If you’re filing returns electronically and are an applicable large employer (ALE) subject to the ACA employer mandate, then next Thursday, June 30 is the final day to submit Forms 1094-C and 1095-C with the IRS. As reminder paper, returns were due May 31. If your company self-insures, Forms 1094-B and 1095-B are also due June 30.
  • PCORI fees due August 1: If your organization has a self-insured healthcare plan, then you may be on the hook to pay annual fees to the Patient-Centered Outcomes Research Institute. Be sure to check on PCORI requirements if you’re unsure if your organization has to make this payment. If so, use IRS Form 720 to submit.
  • “Pay or play” estimator tool available: Still confused about the ACA employer mandate? Help is here. The Taxpayer Advocate Service (an independent organization within the Internal Revenue Service) has designed a calculator that allows you to figure out your company’s estimated:
    • Full-time equivalency
    • Applicable large employer status
    • Maximum penalty amount

For more information about staying in compliance with the ACA while also offering your employees platinum-level benefits for less money, please contact us today.

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The information and materials herein are provided for general information purposes only and are not intended to constitute legal or other advice or opinions on any specific matters and are not intended to replace the advice of a qualified attorney, plan provider or other professional advisor. This information has been taken from sources believed to be reliable, but there is no guarantee as to its accuracy. This communication does not constitute a legal opinion and should not be relied upon for any purpose other than its intended educational purpose.

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