|E to E provides information from a business perspective that will educate regional employers about significant healthcare issues to help them make decisions benefiting their organizations and employees.|
Reminder: Your *PCORI fee is due before 7/31/15.
*According to the IRS, the Patient-Centered Outcomes Research Trust Fund fee is a fee on issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans that helps to fund the Patient-Centered Outcomes Research Institute (PCORI). The institute will assist, through research, patients, clinicians, purchasers and policy-makers, in making informed health decisions by advancing the quality and relevance of evidence-based medicine. The institute will compile and distribute comparative clinical effectiveness research findings.
Call NIHP if you have any PCORI-related questions.
US? WHEN?! LEARNING ABOUT 1094C AND 1095C REPORTING FOR SELF-INSURED EMPLOYERS
If you're concerned about getting 1094C and 1095C reporting done pronto, worry not: These forms are not required to be filed in 2015 by any employer to report 2014 information. But you may want to consider using the time in preparation for the first required filing of these forms (which is filing in 2016 for 2015). If you wish, employers like you may voluntarily file in 2015 for 2014 numbers, in accordance with the proper forms and instructions. The practice may be worthwhile, uncovering current system shortfalls that may prevent prompt success.
Here is a quick review of the IRS Code and required actions:
What: The Affordable Care Act added section 6056 to the Internal Revenue Code, which requires applicable large employers (ALEs) to file information returns with the IRS and provide statements to their full-time employees about the health insurance coverage they offer. The information reporting requirements under section 6056 are first effective for coverage (or lack thereof) in 2015.
Who: An applicable large employer (ALE) member must file information returns with the IRS and furnish statements to employees beginning in 2016. This will report information about health coverage offered to full-time employees for calendar year 2015.
When: You don't need to do any reporting in 2015 unless you want a "practice run." Deadlines for 2016 are February 29 or March 31 (if filing electronically). But now is the time to develop appropriate procedures and ensure systems are in place to collect the data you need for the forms.
How: You may handle the filing yourself, or discuss the reporting requirements with a third party. For example, your payroll vendor may be able to offer software upgrades to help simplify data collection and form preparation. NIHP will provide whatever data we have available to help you submit accurate reports.
The chart below helps clarify 1094C and 1095C reporting guidelines:
*Employers with non-employees enrolled in their self-insured health plans, such as directors, retirees and individuals on COBRA, can elect to report these non-employees on Forms 1095-B and 1094-B instead of Forms 1095-C and 1094-C.
Chart source: McGladrey.com
NEW SUMMARY OF BENEFITS AND COVERAGE TEMPLATE DELAYED UNTIL 2016