Updated Sample Employee Letters for IRS Forms 1095-B and 1095-C

On January 18, 2016

Recently, the IRS extended the deadline for distributing IRS Forms 1095-C and 1095-B to employees from February 1, 2016 to March 31, 2016. As such, Kistler Tiffany Benefits is providing its clients with customizable letters that may be issued to employees explaining the new employee returns (either the Form 1095-B or Form 1095-C). These letters could […]

IRS Extends ACA Filing Deadlines

On December 29, 2015

The IRS issued Notice 2016-4 late yesterday extending the due date for furnishing to employees Form 1095-B, Health Coverage, and Form 1095-C, Employer Provided Health Insurance Offer and Coverage. The due date for furnishing information to employees moves from February 1, 2016 to March 31, 2016. Notice 2016-4 extends the due date: 1. For […]

IRS Addresses ACA Rules for Employer-Provided Health Coverage

On December 21, 2015

On Dec. 16, 2015, the Internal Revenue Service (IRS) issued Notice 2015-87 to address how certain provisions under the Affordable Care Act (ACA) apply to employer-provided health coverage. The notice covers the ACA’s market reforms as well as the employer shared responsibility rules and related reporting requirements. Key provisions of the notice include: Confirmation of […]

Federal Budget Bill to Delay ACA’s Cadillac Tax & Suspend Two Other Taxes

On December 21, 2015

On Dec. 18, 2015, the U.S. Congress passed a federal budget bill for 2016 that makes significant changes to three tax provisions under the Affordable Care Act (ACA). This federal budget bill would: Delay implementation of the ACA’s Cadillac tax on high-cost group health coverage for two years, until 2020; Impose a one-year moratorium on […]

Compliance 2015 Retrospective

On December 14, 2015

If 2014 was year of preparing for The Affordable Care Act’s (ACA) “Pay-or-Play” provisions, 2015 has been the year of ACA reporting. Earlier this year, Kistler Tiffany Benefits began educating its clients regarding the new IRS Forms 1094-C/1095-C reporting requirements applicable to all employers with 50 or more full-time employees including full-time equivalents. We held seminars, […]

ACA Reporting: Employee Informational Letters

On December 14, 2015

A few months ago, the IRS released the following final 2015 versions of the forms and instructions that employers will use to report under Sections 6055 and 6056. On the same day, the IRS issued Notice 2015-68 to provide additional guidance for purposes of Section 6055 reporting. Form 1094-B and Form 1095-B (and related instructions) […]

Senate Approves Repeal of ACA Components

On December 7, 2015

On December 3, 2015, the Senate approved the reconciliation package that would repeal major components of The Affordable Care Act (ACA). While the U.S. House of Representatives made numerous attempts to repeal the ACA over the past few years, this was the first time that a major repeal of the health law passed both houses […]

ACA’s Automatic Enrollment Requirement Repealed

On November 19, 2015

The Affordable Care Act (ACA) included an automatic enrollment requirement for certain large employers. This requirement was intended to take effect once final regulations were issued and a final effective date was specified. On Nov. 2, 2015, President Obama signed into law the Bipartisan Budget Act of 2015, which included a provision repealing the ACA’s […]

ACA Small Group Market Rule Repealed

On October 20, 2015

On October 7, 2015, President Obama signed the Protecting Affordable Coverage for Employees (PACE) Act into law. The PACE Act repeals the Affordable Care Act (ACA) requirement that the small group market in every state be expanded to include businesses with 51-100 employees. Although some sources questioned whether he might veto the law, the President signed […]

Industry Trends: Level the Playing Field by Funding to Your Advantage

On September 24, 2015

Being a small to mid-sized employer typically leaves few options when looking at medical plan funding. Historically, self-insured funding (employer assumes risk and responsibility of medical claims) was typically only available to the much larger sized employer segment, which left many clients held hostage to the fully insured funding methodology of the carrier (paid claims […]

Reminder: Transitional Reinsurance Fee Deadline Approaching

On September 24, 2015

Last month, we shared information about the ACA transitional reinsurance fee deadlines for plan year 2015 that will take place over the next few months. Click here to read more. Interested clients can take part in a webinar hosted by the Department of Labor’s Employee Benefits Security Administration. Registration is open for the “2015 Reinsurance […]

IRS Issues Final 2015 Forms for ACA Reporting (Sections 6055, 6056)

On September 24, 2015

On Thursday, September 17, 2015, the IRS released final 2015 forms and instructions for ACA reporting under Code Sections 6055 and 6056. The 2015 final forms remained unchanged from the 2015 draft versions. The 2015 final instructions provide additional details on some questions, including clarifying that most employers will not have to separately report Health […]

2015 Transitional Reinsurance Fee Deadline Approaching

On August 18, 2015

The Affordable Care Act (ACA) established three risk-spreading programs to provide payments to health insurance issuers that cover higher-risk populations and to more evenly spread the financial risk carried by issuers: A transitional reinsurance program A temporary risk corridor program A permanent risk adjustment program The transitional reinsurance program is intended to help stabilize premiums for […]

IRS Issues Update on Cadillac Tax Implementation

On August 18, 2015

For taxable years beginning in 2018, the Affordable Care Act (ACA) imposes a 40 percent excise tax on high-cost group health coverage. This tax, also known as the “Cadillac Tax,” is intended to encourage companies to choose lower-cost health plans for their employees. On July 30, 2015, the Internal Revenue Service (IRS) issued Notice 2015-52 […]

Reminder: PCORI Fee Due July 31, 2015

On July 7, 2015

The Affordable Care Act (ACA) requires health insurance issuers and sponsors of self-insured health plans to pay Patient-Centered Outcomes Research Institute fees (PCORI fees). The fees are reported and paid annually using IRS Form 720 (Quarterly Federal Excise Tax Return). As such, health insurance issuers and sponsors of self-insured health plans are required to pay fees to help […]

Ruling Expected Soon in King v. Burwell

On June 16, 2015

Ruling Expected Soon in King V. Burwell—Potential Outcomes for Individuals and Employers in PA, NJ, and DE On November 7, 2014, the U.S. Supreme Court agreed to review King v. Burwell; a lawsuit challenging the ability of the federal government to provide health insurance subsidies under The Affordable Care Act (ACA) to individuals enrolled in […]

Patient-Centered Outcomes Research Institute (PCORI) Fees Due July 31, 2015

On May 1, 2015

Industry Trends: Affordable Health Care – What Else Can Be Done?

On April 21, 2015

As the ongoing affordability question of health care insurance continues, there is a consistent inquiry we hear from our clients—what are other employers doing to manage escalating health care premiums? Below are just a few examples of the strategies clients are adopting to help stay above water with managing this expense: Spousal and Dependent Participation, […]

IRS Reporting Requirements Seminar Recap – March 25

On April 1, 2015

On Thursday, March 26, 2015, Kistler Tiffany Benefits hosted a seminar at the National Constitution Center in Philadelphia addressing the new Affordable Care Act (ACA) employer reporting requirements impacting Applicable Large Employers (employers with 50 or more full-time employees including full-time equivalents). Specifically, the seminar addressed the proper methods of completing IRS Forms 1094-C and 1095-C in compliance […]

Clarifying “Affordability” for Applicable Large Employers

On March 17, 2015

Beginning in 2015, Applicable Large Employers (ALEs) with 100 or more full-time employees including full-time equivalents will either need to offer coverage that is 1.) affordable, and 2.) provides minimum value, or potentially risk excise tax penalty liability. There has been some confusion in the compliance world regarding the definition of “affordability” as it relates […]

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