Educate employees about their benefits with the November Benefits & Me Newsletter.
2022 ACA Employer Reporting
The IRS has released the final 2022 forms for 6055 and 6056 reporting.
Applicable Large Employer (ALE)
An ALE is an entity, or a member of a controlled group of entities, that employed on average 50 or more full-time employees or equivalents during the prior calendar year. Reporting is necessary for the IRS to administer the Employer Shared Responsibility Payments and allows an ALE to indicate whether it did or did not offer Minimum Essential Coverage (MEC), if the coverage was of minimum value, and whether or not it was intended to be affordable to the employee.
Self-Funded Employer Webinars
An employer with a self-funded or level-funded plan is deemed to be the issuer of the employee’s health insurance policy by the IRS and required to report the Minimum Essential Coverage (MEC) they offered their employees throughout the year. Even though the Individual Mandate Penalty has been reduced to zero, the IRS still requires 1094/1095-B reporting. Fully insured employers are not required to report and do not need to attend this webinar.
Family Glitch Fix
The IRS has created a new affordability rule* based on the cost of family coverage and household income. An employee's spouse and dependents who were previously not eligible for subsidized coverage on the Marketplace might now be eligible.
Our Compliance and HR team recently held a webinar discussing how this new affordability rule impacts employers, their employees, and their families. Please click here for a PDF version of the presentation.
*This resolution does not affect the rule for affordability for Applicable Large Employers, and l
arge employers should continue offering "affordable" employee-only coverage so they are not subject to penalties.
The information herein should not be construed as legal or tax advice in any way. This content is provided for informational purposes only. You should seek the advice of your attorney or tax consultant for additional or specific information.