With a constantly evolving conversation around the Affordable Care Act (ACA), many employers were wondering if reporting was going to stay or go. After months of uncertainty, it is now clear the ACA is here to stay, at least for now. In fact, the IRS issued a warning on October 20, 2017, stating they will begin implementing the ACA mandate penalties for employers. Accurate and compliant reporting for the 2017 tax year will be more important than ever to avoid costly penalties.
In effort to help you prepare for 2017 reporting, our ACA team will be hosting two webinars in November and December. We’ll be covering important deadline dates, process overview and common errors/mistakes. Make sure to save your spot today.
As health coverage has expanded under the ACA, employers have experienced the increasing burden of reporting to the Internal Revenue Service (IRS), which uses a host of tax forms to ensure certain rules are met. In addition, the federal government continually looks to refine regulations. Therefore, employers and human resources departments must not only be aware of the ACA’s basic rules, but they must also stay vigilant in understanding the ever changing landscape. It’s more important than ever for organizations to understand what they’ve been doing right, what they need to correct and how they can avoid costly penalties.
In this program, we will review:
Important Dates - When are forms due to individuals? - When are forms due to Infinity? - When are forms due to the IRS (e-file)?
Process Overview - How to generate 1095s - Review of forms - Storage relating to submission history
Common Errors & Mistakes - TIN Validation Errors - The importance of data accuracy - Review of self-Insured plans
Drew Mintzellis the Product Manager of InfinityHR’s dynamic ACA compliance module. In this role, he helps organizations leverage technology to make compliance simple. Drew is certified by the National Association Health Underwriters as an expert in the Patient Protection and Affordable Care Act (PPACA). With a focus on ACA, Drew has helped over 400 organizations of all sizes successfully file and improve their compliance process, all while achieving a 100% on time filing rate for clients that approved in the 2016 filling year. He can help you better understand the ACA reporting requirements and guide you through the process of filing your forms to the IRS and sending copies to your employees.
Still looking for a 2017 solution? For companies still looking for a solution for 2017 reporting, InfinityHR is still accepting new clients through 12/8. Our dynamic ACA compliance modules will save you time by using existing data to analyze employees, their benefits, compensation and demographics. The created 1094 and 1095 reports will then be effortlessly produced and sent to employees and the IRS.
To learn more about our ACA module or to request a demo, click here .