ACA Reporting Deadlines Are Approaching

Affordable Care Act (ACA) reporting deadlines are approaching soon under Section 6055 and Section 6056 for the 2019 calendar year. Reporting entities must: File returns with the Internal Revenue System (IRS) by February 28, 2020 if filing on paper (or March 31, 2020 if filing electronically); and Furnish 2019 Forms …

2020 Health Plan Compliance Deadlines

Every year employers that sponsor group health plans are subject to numerous reporting and disclosure requirements. Not all compliance requirements will apply to every employer, but group health plan sponsors should familiarize themselves with health plan compliance deadlines. For non-calendar year plans, these deadlines will need to be adjusted to …

Draft Forms for 2019 ACA Reporting Released

Over the years, the Affordable Care Act (ACA) has created reporting requirements under Code Sections 6055 and 6056. These rules require certain employers to provide information to the Internal Revenue System (IRS) about the health plan coverage they either offer, don’t offer, or provide to their employees. 2019 Draft Forms …

IRS Announces Benefit Plan Limits for 2020

The Internal Revenue System (IRS) recently announced the 2020 dollar limits for employee benefits including: High Deductible Health Plans (HDHPS), Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), Transportation Benefits, and Adoption Assistance. As cost of living expenses continue to rise due to inflation, the IRS annually adjusts contribution limits …

HHS Rescinds Health Plan Identifier (HPID) under HIPAA

The Department of Health and Human Services (HHS) has released a final rule to rescind the HPID and requirements for its use. What is a HPID? A HPID is a standard, yet unique health plan identifier that is primarily used in Health Insurance Portability and Accountability Act (HIPAA) standard transactions. …