{"id":804,"date":"2015-04-22T14:30:54","date_gmt":"2015-04-22T18:30:54","guid":{"rendered":"http:\/\/www.hnetalk.com\/Employer\/?p=804"},"modified":"2015-04-22T14:30:54","modified_gmt":"2015-04-22T18:30:54","slug":"are-you-ready-for-this-new-2015-requirement-under-the-affordable-care-act","status":"publish","type":"post","link":"http:\/\/hnetalk.com\/employer\/2015\/04\/22\/are-you-ready-for-this-new-2015-requirement-under-the-affordable-care-act\/","title":{"rendered":"Are You Ready for this New 2015 Requirement Under the Affordable Care Act?"},"content":{"rendered":"<p><a href=\"http:\/\/03c4283.netsolhost.com\/employer\/wp-content\/uploads\/2015\/04\/Medical_Screen_App_WR.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-812\" src=\"http:\/\/03c4283.netsolhost.com\/employer\/wp-content\/uploads\/2015\/04\/Medical_Screen_App_WR.jpg\" alt=\"ACA image\" width=\"300\" height=\"199\" srcset=\"http:\/\/hnetalk.com\/employer\/wp-content\/uploads\/2015\/04\/Medical_Screen_App_WR.jpg 300w, http:\/\/hnetalk.com\/employer\/wp-content\/uploads\/2015\/04\/Medical_Screen_App_WR-250x166.jpg 250w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>Employers, if you have 50 or more full time employees, read on. If not, this requirement does not apply to you.<\/p>\n<p>Starting with \u00a0the 2015 tax year, employers with 50+ full time staff will need to complete the following new IRS forms:<\/p>\n<p><strong>Form 1095-C:<\/strong><\/p>\n<ul>\n<li>Must be sent to each employee by January 31<sup>st<\/sup>, 2016, like the W-2<\/li>\n<li>States whether the employee was offered a healthcare plan, what months the plan was offered, and the amount of the employee\u2019s share of the lowest-cost self-only coverage that was offered<\/li>\n<\/ul>\n<p><strong>Form 1094-C:<\/strong><\/p>\n<ul>\n<li>Must be submitted to the IRS with all 1095-C forms by February 28, 2016 if you are filing paper forms, and by March 31, 2016 if you are filing electronically<\/li>\n<li>Acts as a cover page for the 1095-C forms, stating how many 1095-C forms you are submitting<\/li>\n<\/ul>\n<p>Why?<\/p>\n<p>These forms will be used to enforce the provision of the Affordable Care Act (ACA) requiring that employers with over 50 full time employees provide healthcare coverage that is\u2026<\/p>\n<ul>\n<li>Affordable. The lowest cost self-only health plan must be no more than 9.5 percent of the employee\u2019s gross income.<\/li>\n<\/ul>\n<ul>\n<li>Of Minimum Value. At least 60 percent of the employer group\u2019s medical costs, as a whole, must be covered by the health plan. (All HNE plans comply with this requirement, and the majority pay for at least 70 percent of the group\u2019s medical costs.)<\/li>\n<li>Offered to at least 70 percent of full time employees in 2015. In 2016, the minimum will increase to 95 percent.<\/li>\n<li><em>If you don\u2019t meet these requirements, you may be penalized!<\/em><\/li>\n<\/ul>\n<p><em>How will I meet this requirement? Will Health New England help?<\/em><\/p>\n<p>Health New England\u00a0cannot supply the information for these forms. They must be given to every employee who was <em>offered <\/em>health insurance, including employees who declined it and are not in HNE\u2019s records. We will continue to supply all of our fully-insured subscribers with form 1095-B, which notes the months that your employees and their dependents received healthcare coverage from HNE.<\/p>\n<p>Your payroll company \u00a0can track the data for forms 1094-C and 1095-C, and prepare the forms. We suggest that you speak with your payroll company about this new requirement, to ensure that you have smoothly-working systems in place to meet it.<\/p>\n<p>You can find further instructions from the IRS at this link: <a href=\"http:\/\/www.irs.gov\/instructions\/i109495c\/\">http:\/\/www.irs.gov\/instructions\/i109495c\/<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Employers, if you have 50 or more full time employees, read on. If not, this requirement does not apply to you. Starting with \u00a0the 2015 tax year, employers with 50+ full time staff will need to complete the following new IRS forms: Form 1095-C: Must be sent to each employee by January 31st, 2016, like [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":812,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[13,14],"class_list":["post-804","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-aca","tag-affordable-car-act"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"http:\/\/hnetalk.com\/employer\/wp-content\/uploads\/2015\/04\/Medical_Screen_App_WR.jpg","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p6ZZu3-cY","_links":{"self":[{"href":"http:\/\/hnetalk.com\/employer\/wp-json\/wp\/v2\/posts\/804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/hnetalk.com\/employer\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/hnetalk.com\/employer\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/hnetalk.com\/employer\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/hnetalk.com\/employer\/wp-json\/wp\/v2\/comments?post=804"}],"version-history":[{"count":0,"href":"http:\/\/hnetalk.com\/employer\/wp-json\/wp\/v2\/posts\/804\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/hnetalk.com\/employer\/wp-json\/wp\/v2\/media\/812"}],"wp:attachment":[{"href":"http:\/\/hnetalk.com\/employer\/wp-json\/wp\/v2\/media?parent=804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/hnetalk.com\/employer\/wp-json\/wp\/v2\/categories?post=804"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/hnetalk.com\/employer\/wp-json\/wp\/v2\/tags?post=804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}