Join MyHRBuzz as we discuss common challenges faced during the ACA year-end reporting process and share expert tips to ensure compliance and avoid costly mistakes.
Learn MoreLast Updated on February 25, 2025 Small businesses with fewer than 50 full-time equivalent (FTE) employees face critical Affordable Care Act (ACA) filing requirements. Compliance is essential to avoid penalties and ensure smooth operations. This guide explores the ACA filing requirements for small groups, the role of Form 1095-B and the limitations of relying solely […]
Learn MoreLast Updated on January 28, 2025 Two significant pieces of legislation were signed into law on December 23, 2024: the Employer Reporting Improvement Act and the Paperwork Burden Reduction Act. These laws represent a major shift in simplifying employer responsibilities under the Affordable Care Act (ACA). Here’s a breakdown of what these acts entail, the […]
Learn MoreLast Updated on January 28, 2024 In the complex and ever-evolving landscape of Human Resources (HR), staying compliant with regulations and best practices is a key HR focus area for HR Professionals. HR professionals play a critical role in ensuring that their department adheres to legal requirements, fosters a positive work environment, and contributes to […]
Learn MoreHaving a year-end HR compliance checklist is a crucial tool to ensure that your organization is meeting all legal and regulatory requirements related to human resources.
Learn MoreLast Updated on April 3, 2025 As we approach year’s end, employers must be diligent in ensuring compliance with the Affordable Care Act (ACA) reporting requirements. The ACA demands meticulous record-keeping and reporting, leaving no room for error. Failure to do so can lead to significant penalties and fines: The following are tasks designed to […]
Learn MoreLast Updated on October 15, 2023 As 2024 open enrollment approaches, employers need to note a crucial update in the Affordable Care Act (ACA) affordability guidelines, as outlined in the recently published IRS Revenue Procedure 2023-29. The ACA affordability threshold is being reduced to 8.39% for 2024, down from 9.12% in 2023. This adjustment means […]
Learn MoreLast Updated on June 26, 2023 The Patient-Centered Outcomes Research Institute (PCORI) fee is an essential component of the Affordable Care Act (ACA) compliance structure. Understanding what PCORI fees are, who needs to file, when it needs to be filed, the rate at which it needs to be paid, and the form on which it […]
Learn MoreLast Updated on November 28, 2023 The Department of the Treasury and the Internal Revenue Service that will affect how businesses submit their informational returns to the IRS. These regulations will require certain filers to e-file beginning in 2024. The new rules, T.D. 9972, affect filers of partnership returns, corporate income tax returns, unrelated business income […]
Learn MoreIn this podcast episode, Chris Cooley talks in detail about ACA reporting, including common misconceptions, affordability details, and penalties.
Learn MoreLast Updated on December 15, 2022 Final Forms and Instructions for 2022 ACA Reporting Updates to 2022 ACA forms and instructions The 2022 forms are essentially unchanged from the prior year. The instructionshave been updated to include the permanent, 30-day automatic extension oftime for furnishing statements to individuals under Sections 6055 and 6056.Due to this […]
Learn MoreLast Updated on September 14, 2023 ACA Requirement Changes Taking Effect in 2023 Changes to some ACA requirements will take effect in 2023 for employers sponsoring group health plans. To prepare for 2023, employers should review these requirements and develop a compliance strategy. Employers should ensure that their health plan documents, including the summary of […]
Learn MoreRead our checklist of important human resources compliance items to consider before the end of 2022
Learn MoreLast Updated on August 3, 2022 On Aug. 1, 2022, the IRS issued Revenue Procedure (Rev. Proc.) 2022-34 to index the contribution percentages in 2023 for determining the affordability of an employer’s plan under the Affordable Care Act (ACA). For plan years beginning in 2023, employer-sponsored coverage will be considered affordable if the employee’s required contribution for […]
Learn MoreLast Updated on July 27, 2022 On July 25, 2022, the Department of Health and Human Services (HHS) issued a proposed rule that would revise existing regulations for the Section 1557 nondiscrimination protections under the Affordable Care Act (ACA). The proposed rule is intended to solidify protections against discrimination on the basis of sex, including sexual orientation […]
Learn MoreLast Updated on June 3, 2022 PCORI Fees Due Aug. 1, 2022 The Affordable Care Act (ACA) requires health insurance issuers and self-insured plan sponsors 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). Issuers and plan sponsors are generally required […]
Learn MoreIf you did not file your 1094/1095 forms with the IRS or furnish the 1095 forms to your employees, it is important to file and furnish them as soon as possible. Get with an HR Expert to assist you in ACA reporting after the deadline.
Learn MoreLast Updated on March 1, 2022 The landmark health care reform legislation enacted in March 2010 was designed to expand the availability of health insurance, reform the regulation of health coverage and restructure its delivery. A key component—and a key cause of confusion—within the ACA is the employer mandate, which requires employers with 50 or […]
Learn MoreLast Updated on January 4, 2022 Update, January, 2022 – The deadline for ACA reporting forms to employers has been extended but with all of the busy new year HR tasks, it will be important to keep this deadline on your radar. Late or inaccurate forms could lead the IRS to notify an employer that it […]
Learn MoreLast Updated on November 15, 2021 The Internal Revenue Service (IRS) released final 2021 forms for reporting under Internal Revenue Code (Code) Sections 6055 and 6056. 2021 Forms 1094-B and 1095-B are the forms that will be used by providers of minimum essential coverage (MEC), including self-insured plan sponsors that are not applicable large employers (ALEs), to report under […]
Learn MoreLast Updated on January 13, 2022 Failing to comply with the ACA’s requirements can cause severe consequences for an employer. This ACA Overview (PDF) summarizes the penalties and excise taxes that may be triggered by an ACA violation. Click the document below to enlarge and print.
Learn MoreThe Affordable Care Act (ACA) has made a number of significant changes to group health plans since the law was enacted in 2010. Since then, several changes have been made to various ACA requirements that employers and plan sponsors should be aware of. It is important for employers to periodically review their benefit plans in order to maintain compliance with these various requirements.
Learn MoreA number of changes were introduced to the health insurance marketplace with the passage of the ACA in 2010. From different reporting forms and health insurance plan requirements to the penalties imposed on employers for failing to comply with the Employer Mandate — The ACA created unique responsibilities for employers, health insurance carriers, and individuals alike. One of the ACA’s unique requirements from a reporting perspective relates to the different Forms 1095. The following information and take the confusion out of these forms.
Learn MoreLast Updated on September 8, 2021 It’s not too late to prepare for ACA filing and These Resources Can Help You Prepare for 2022 ACA Reporting. 2021 Affordable Care Act (ACA) Reporting is Due in Early 2022 The IRS has released draft 2021 versions of Forms 1094-C, 1095-C, 1094-B and 1095-B that employers will use in early 2022 to report under […]
Learn MoreLast Updated on July 20, 2021 This alert is of interest to all employers that sponsor self-insured group health plans, including Health Reimbursement Arrangements (HRAs). Employers that sponsor self-insured group health plans, including health reimbursement arrangements (HRAs) should keep in mind the upcoming July 31, 2021 deadline for paying fees that fund the Patient-Centered Outcomes […]
Learn MoreLast Updated on June 30, 2021 IRS Draft Forms For 2021 ACA Reporting Released The Internal Revenue Service (IRS) released draft 2021 forms for reporting under Internal Revenue Code (Code) Sections 6055 and 6056. 2021 draft Forms 1094-B and 1095-B are draft versions of forms that will be used by providers of minimum essential coverage […]
Learn MoreLast Updated on May 20, 2021 On May 10, 2021, the Department of Health and Human Services (HHS) issued a notice announcing that, effective immediately, it will now interpret and enforce the prohibitions on discrimination based on sex under Section 1557 of the Affordable Care Act (ACA) to include: Discrimination on the basis of sexual […]
Learn MoreLast Updated on March 25, 2021 ACA Special Enrollment Period Into August President Joe Biden’s administration recently extended access to the Special Enrollment Period (SEP) for the Affordable Care Act (ACA) to Aug. 15, from the previously announced end date of May 15. This direction comes after the U.S. Department of Health and Human […]
Learn MoreAffordable Care Act reporting deadlines for the 2020 calendar year are due in early 2021. Learn about this, furnishing deadlines, and penalties for not meeting requirements.
Learn MoreLast Updated on March 20, 2024 New administration means changes to the HR landscape Each presidential transition brings changes to the HR landscape. When President Donald Trump took office in 2016, he overturned or revised many of his predecessor’s federal regulations, a common trend between administrations of opposing parties. It is also something likely to […]
Learn MoreLast Updated on October 27, 2020 NEW! MyHRBuzz – The Podcast In this episode, we visit with Misty Baker, Director of Compliance and Governmental Affairs for BenefitMall. We will discuss the upcoming CA vs. TX Supreme Court case and how it could potentially affect the Affordable Care Act (ACA) and healthcare going forward. Subscribe […]
Learn MoreLast Updated on October 23, 2020 Final Forms and Instructions for 2020 ACA Reporting Released The Internal Revenue Service (IRS) released final 2020 forms and instructions for reporting under Internal Revenue Code (Code) Sections 6055 and 6056. 2020 Form 1094-B and Form 1095-B (and related instructions) will be used by providers of minimum essential coverage […]
Learn MoreLast Updated on February 25, 2025 Affordable Care Act: 2021 Compliance Checklist The Affordable Care Act (ACA) has made a number of significant changes to group health plans since the law was enacted in 2010. Since that time, a number of changes have been made to various ACA requirements that employers and plan sponsors should […]
Learn MoreLast Updated on October 9, 2020 On Sept. 18, 2020, U.S. Supreme Court Justice Ruth Bader Ginsburg passed away at the age of 87. Whether the Court vacancy created by Justice Ginsburg’s death should be filled prior to the November election is the subject of much controversy. Under federal law, the President is responsible for […]
Learn MoreLast Updated on January 8, 2021 The Look-back Measurement Method and COVID-19 The Affordable Care Act (ACA) requires applicable large employers (ALEs) to offer affordable, minimum value health coverage to their full-time employees or possibly pay a penalty. This employer mandate is also known as the “employer shared responsibility” or “pay or play” rules. ALEs […]
Learn MoreLast Updated on April 29, 2021 2020 Fees Repealed Under the Affordable Care Act On Dec. 20, 2019, President Trump signed into law a spending bill that prevents a government shutdown and repeals the following three taxes and fees under the Affordable Care Act (ACA): The Cadillac tax on high-cost group health coverage, beginning in […]
Learn MoreAre you up to date on the latest requirements for ACA (Affordable Care Act) Reporting? Stay compliant by learning about your responsibilities as an employer and taking next steps.
Learn MoreDoes your small business need to file ACA Forms 1094 and 1095? It depends on the kind of insurance you offer your employees.
Learn MoreThe 5th Circuit Court of Appeals recently heard arguments on a lower court’s ruling on the Affordable Care Act. Find out where the ACA currently stands and if your business needs to continue to comply with the law.
Learn MoreThe ICHRA provides employers a way to offer health care benefits to employees that do not count toward their taxable wages. The option also provides smaller employers a way to offer insurance without the administrative burden of offering a traditional medical plan.
Learn MoreThe Affordable Care Act is being challenged in court. Are small to medium businesses still required to comply with the ACA? See the latest developments.
Learn MoreLast Updated on March 26, 2019 DoJ Support of Federal Judge’s Ruling Leaves ACA Requirements Unchanged Despite the March 25th announcement that the U.S. Department of Justice is upholding a Texas federal judge’s ruling that the Affordable Care Act (ACA) is unconstitutional, the ACA currently remains in effect. DoJ Filing with Court of Appeals On December […]
Learn MoreLast Updated on April 8, 2019 Form 1095-C Due to Employees by March 4 All Applicable Large Employers (ALEs) must comply with 2018 Affordable Care Act (ACA) filing requirements according to Internal Revenue Service deadlines. The IRS deadline for providing 2018 health coverage 1095-C forms to employees is March 4, 2019. Other crucial ACA filing […]
Learn MoreBelieving rumors about The Affordable Care Act can be costly for grocers. For example, many companies mistakenly believed that ACA wouldn’t be enforced, but the IRS has recently started sending out penalty letters for the 2015 tax year. We have heard of penalties ranging from $40,000 to upwards of $2 million.
Learn MoreLast Updated on April 29, 2021 Editor’s note: HR & Benefits News is a monthly column by Chris Cooley, co-founder of MyHRConcierge and SMB Benefits Advisors. The Employer Shared Responsibility Provision of the Affordable Care Act (ACA) penalizes employers who either do not offer (healthcare) coverage or do not offer coverage which meets minimum value and affordability standards. […]
Learn MoreLast Updated on April 29, 2019 The President signed an Executive Order with the intent to bring sweeping changes to the health insurance industry. The Executive Order focuses on three primary areas: Expanding Association Health Plans (AHP) Within 60 days from the date of the Executive Order, the Secretary of Labor shall consider proposing regulations or revising […]
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