The Affordable Care Act (ACA) imposes significant information reporting responsibilities on employers starting with the 2015 calendar year
The IRS has issued draft 2015 forms and instructions that will be finalized later this year. Information returns The new information reporting system is similar to the current Form W-2 reporting system in that an information return (Form 1095-B or 1095-C) will be prepared for each applicable employee, and these returns will be filed with… Continue reading
Final Days To Obtain Health Insurance
March 31, 2014, is the last day in which you can submit an application for health insurance this year, without a qualifying event. The open enrollment period is down to the last few days to take advantage of the opportunity to protect yourself from the tax penalty for 2014. Here are some tips to keep… Continue reading
Health Insurance Reform Preparations have Begun . . . Are you Prepared?
Affordable Care Act Facts • There will be new, affordable insurance options available for people without insurance. Beginning in 2014, if you do not have insurance you will have to pay a tax penalty. • All insurance plans will have to cover doctor visits, hospitalizations, maternity care, emergency room care and prescriptions. There will be… Continue reading
Time is ticking; Do you know what you will do by the end of the year for Health Care?
The Affordable Care Act (ACA) requires Insurance exchanges to be established by October 1, 2013. Do you know what this means to you? Are you prepared for what actions you will have to take? Employers are mandated to issue notices to their employees regarding the availability of the Health Insurance Exchange. This notice was originally… Continue reading