Image: Awane
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.
