March 13, 2023

ACA Mailbag: Commonly Asked Questions about 1095-C Forms

As part of the annual requirements, Applicable Large Employers must furnish Forms 1095-C to full-time employees and covered individuals and file Forms 1094-C and 1095-C with the IRS. Additionally, employers with operations in select states must comply with state-specific filing and furnishing requirements.
March 1, 2023

Summary Plan Descriptions – FAQs and Deadlines to Remember

Qualified employees use Form W-4 to tell employers not to deduct any federal income tax from their wages. Details including the employee’s filing status, multiple job adjustments, amount of credits, amount of other income, deduction amounts, and any additional amounts the employee is requesting to be withheld from each paycheck will all be used to calculate how much federal income tax to deduct and withhold from the employee’s pay.
February 20, 2023

All About Form M-1, Multiple Employer Welfare Arrangements, and Association Health Plans

Qualified employees use Form W-4 to tell employers not to deduct any federal income tax from their wages. Details including the employee’s filing status, multiple job adjustments, amount of credits, amount of other income, deduction amounts, and any additional amounts the employee is requesting to be withheld from each paycheck will all be used to calculate how much federal income tax to deduct and withhold from the employee’s pay.
February 13, 2023

Breaking Down Medicare Part D: Disclosure Notice to CMS

Qualified employees use Form W-4 to tell employers not to deduct any federal income tax from their wages. Details including the employee’s filing status, multiple job adjustments, amount of credits, amount of other income, deduction amounts, and any additional amounts the employee is requesting to be withheld from each paycheck will all be used to calculate how much federal income tax to deduct and withhold from the employee’s pay.
January 3, 2023

Affordable Care Act Requirements for Form W-2 Reporting

Applicable Large Employers (ALEs) who are subject to this requirement, including businesses, tax-exempt organizations, and federal, state, and local government entities (not including plans primarily for military members and their families), must include the portions paid by both the employer and the employee. Health care coverage for retirees or former employees who would not normally receive a W-2 from an employer are exempt from this requirement.
December 1, 2022

Disclosure Notice to CMS for Medicare Part D-Eligible Individuals

Plan sponsors that provide prescription drug coverage to Medicare-eligible individuals must also disclose to CMS annually whether the coverage is creditable or noncreditable. This disclosure must be made no more than 60 days after the beginning of each plan year.
September 1, 2022

Affordable Care Act Updates: Pay or Play Penalties Will Increase in 2023

On Aug. 16, 2022, the IRS updated its FAQs on the ACA's employer shared responsibility rules to include updated penalty amounts for 2023. These penalty amounts are adjusted annually.
January 11, 2022

Summary of Material Modifications: What is it, and how does it apply?

When a plan is amended or when other information is required to appear in the plan's Summary Plan Description (SPD) changes, ERISA requires that notice of the amendment or change be provided through a Summary of Material Modification (SMM).
December 13, 2019

Final 2019 ACA Forms 1095-C and 1094-C Released

Told you we would let you know when the final 2019 1095-C forms are out, and here they are!
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