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UNDERSTANDING THE ABC’S OF THE IRC ACA REPORTING REQUIREMENTS
March 31, 2015 @ 2:00 pm - 3:00 pm
Chernoff Diamond 2015 Webinar Series –
IMPORTANT NOTE: This webinar is appropriate for Applicable Large Employers – those with 50+ full-time equivalent employees in 2014 who are subject to the new ACA reporting requirements under IRC 6055 and 6056. Smaller employers that either offer (a) no health coverage or who (b) offer employees insured group health coverage (including through a SHOP exchange) are not subject to this ACA provision.
The ACA employer mandate has begun (with some exceptions) and new reporting forms must be completed and issued to the IRS and employees for 2015. Applicable Large Employers must be able to properly categorize, capture and classify an employee’s status and healthcare coverage on a monthly basis. The IRS has issued final versions of Forms 1094 and 1095 (actually there are three versions of the forms referred to here as the “A”,“B” and “C” series) and employers are wrestling with what needs to be done to comply with the new reporting requirements.
In this webinar we will help you understand your ACA reporting obligations by answering such questions as:
- What is the purpose of these reports?
- Who is responsible to prepare and issue these reports and to whom?
- When and how must these reports be issued?, and
- Which forms do employers use?: Is it the “A” series, the “B” series or the “C” series of Forms 1094 and 1095; what parts of the forms must be completed and and how is the information reported. We will also show you some examples of how to complete these forms for different types of employees and employer plans.
This session will best be viewed with copies of the 1094 and 1095 forms. Copies of the forms will be made available to registered participants prior to the event.
Be sure to Stay Tuned and look for future broadcasts in our Webinar Series on such topics as: Keeping Up with Technology and the Electronic Distribution Rules; Strategic Planning with the Cadillac Tax in Mind; and What the Supreme Court Ruling on the ACA Subsidies Means for the Future of the ACA*
Ralph A. Sepe is a Partner in both the Health & Benefits and Transaction Services divisions. Mr. Sepe’s role is to understand clients’ short and long term objectives, then to work closely with the firm’s internal and external resources to develop a customized benefits program that meets each client’s business, financial and competitive requirements. Having over 20 years’ experience in the industry affords Mr. Sepe the knowledge and expertise necessary to not only develop a truly unique benefits program for each client, but also the ability to organize the resources needed to implement and maintain a successful program that exceeds client expectations.
Jill Bergman, CEBS, is Vice President of Compliance in the Health & Benefits division. As a Certified Employee Benefits Specialist®, Ms. Bergman monitors federal and state-level employee benefit plan legislation and regulations to help clients understand and comply with the ever-changing health and welfare plan requirements as well as continuing to closely watch and report on the progress of healthcare reform implementation under the Affordable Care Act (ACA).
This program has been approved for 1 (HR (General)) recertification credit hours toward PHR, SPHR and GPHR recertification through the HR Certification Institute. The use of this seal is not an endorsement by the HR Certification Institute of the quality of the program. It means that this program has met the HR Certification Institute’s criteria to be pre-approved for recertification credit.
*Presented in the event that the Supreme Court strikes down the availability of premium subsidies in states that fail to establish a state exchange.