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January 15, 2016 | Leave a Comment
Under the current Administration, we have seen repeated delays of implementation of the ACA. Pay or Play has been delayed on more than one occasion… Deadlines to sign up for individual coverage have been extended… No different, employers will have two more months – or until March 31 – to give employees forms for reporting health coverage in 2015 (Form 1095-B for health coverage and 1095-C for employer provided health offering and coverage).
The deadline for reporting this information to the Internal Revenue Service has also been extended – in this case, by three months. 1094-B and 1094-C are due May 31 for those filing via paper and June 30th for those filing electronically.
While these delays have repeatedly drawn criticism, it has given employers the opportunity to consult with professionals and better ensure compliance. Should you need help or perhaps a second opinion, we are happy to assist you in answering questions, like:
- Who has to report?
- What information do I need to report?
- What if we weren’t required to comply with the employer mandate this year?
- Do I use my payroll software for this or is there another option?
- What are the penalties for not filing?
Written by: Ben Crowder, Consultant, The Cornerstone Insurance Group