Q4 Health Reform and Legislative Updates

Avoid common errors this ACA reporting season

Another calendar year is nearing its end, and that means the 2020 Affordable Care Act (ACA) reporting season is upon us. For HR teams responsible for ACA compliance and management, now is the time to get ready for your IRS annual ACA filings. Here is our guide to help you do just that.

Our 2020 guide will help you organize your dates and deadlines, ensure you are correctly filing forms, and even make you aware of the common mistakes business make.

> Read the full blog here.

Are workforce changes increasing my ACA Penalty B risk?

healthefx.us

In a year where many businesses experienced volatility in the workplace, many employees' hours or pay may of been reduced. This year, there are additional things employers should keep in mind regarding the 2020 ACA reporting season.

Want to know more? Check out our first Ask the Expert email on how workforce changes may increase your ACA Penalty B risk or read how Penalty B is calculated in our latest blog.

> Click here to read more about Penalties B.

Rhode Island and New Jersey extend Form 1095 deadlines to align with IRS

healthefx.us

The Rhode Island Department of Revenue Division of Taxation extends their state reporting deadline to issue health coverage forms to individuals for the 2020 tax year from January 31, 2021 to March 2, 2021, and to the Division of Taxation to March 31, 2021.

New Jersey follows Rhode Island's lead and extends their state reporting deadline to issue health coverage forms to individuals for the 2020 tax year from January 31, 2021 to March 2, 2021 to align with the federal extension. New Jersey keeps the March 31, 2021 deadline to submit to the NJ Department of Treasury.

Read our State-by-State eBook to help guide you through each state’s regulations.

> Stay on top of all the state deadlines here.

What You Need to Know About Forms 1094 and 1095

healthefx.us

At Health e(fx) we understand the complexity of making sure your business is compliant with the ACA. If you’re an employer with 50 or more full-time employees, or full-time equivalent employees, you’re considered a large employer. Therefore, you’re required to offer health insurance coverage to 95 percent of your full-time employees and report that offer under the ACA.

To make sure you have all the information you need to be successful this reporting season, we are providing a simplified guide to help you complete your Forms 1095 and 1094.

> Bookmark this blog today.

What the transition to a new administration means for the ACA

healthefx.us

After a complex and controversial election, President-elect Joe Biden will be taking the reins as Commander in Chief. Since Biden’s victory, there’s been a change in attitude about the future of the Affordable Care Act.

It’s hard to know what changes to anticipate, as so many other factors and uncertainties are at play. We don’t have a clear picture right now, but certain outcomes could give us a better idea of what could happen. With many uncertainties, we are prepared to pivot as needed and support you with your health reform needs.

Read more for insights into key factors including Biden's plan, Supreme Court rulings, a runoff election and more.