NOTICE: These IRS forms are not simple census forms. An inestimable amount of time will be required to gather the payroll, health plan, employee/dependent, and COBRA/leave administration data necessary to complete the forms. Once gathered, a form must be completed for every full-time employee and transmitted to the IRS.
An employer with 55 employees can expect to spend a minimum of 11 hours completing the statement forms and 4 hours completing the transmittal form. Few HRIS systems can handle the process so that most of the work will be done manually.
Statements must be provided to employees by NO LATER THAN FEBRUARY 1, 2016 reflecting health coverage offered and accepted during 2015. (NOTE - THE IRS EXTENDED THIS DEADLINE TO MARCH 31, 2016 - click here for details)
Beginning in 2016, the Patient Protection and Affordable Care Act (ACA) requires applicable large employers (50+ employees) to file information with the Internal Revenue Service and provide statements to employees in regard to health coverage offered and accepted during 2015. The so called “pay or play” or shared-responsibility mandates will demonstrate whether the health coverage offered is compliant with ACA requirements, whether a penalty will be assessed and whether an employee is entitled to a government subsidy. The required forms are complex and require detailed information regarding the coverage offered, and to whom, on a monthly basis.
Join us for this one hour session as we cover:
- Overview of the requirements of pay or play and section 6055/6056 of the Internal Revenue Code
- Requirements of Forms 1094-C & 1095-C
- Line by line analysis
- Reporting examples
- Deadlines & Penalties
Rebecca Dent & Amy Vazquez
$55 for EANJ Members & SHRM Partners (unlimited registrations per company)
$95 Non-Members (unlimited registrations per company)
Long distance phone charges will apply
Approved for one (1) HRCI Credit
(After registering, confirmation, instructions & reminders will be emailed to you directly from our Conference Service Provider: firstname.lastname@example.org)