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Proprietary and Confidential©Copyright 2014 Spring Consulting Group, LLC. All rights reserved
LinkedIn: spring-consulting-group-llcTwitter: @SpringsInsight
What You Need to Know About the ACAWeek of September 1-7, 2014
Presented by: George Gonser, CEO Spring Insurance Group
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IRS Releases Draft Instructions for Filling Out ACA Reporting Forms
On 8/28/14, the IRS released draft instructions for 2015 ACA-related reporting for employers; Instructions can be found at
http://apps.irs.gov/app/picklist/list/draftTaxForms.html
Clarifies how employers should be filling out ACA reporting forms (1095-C and 1094-C for employers) Forms were previously released as drafts
only causing a great deal of confusion about how to use them
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IRS Releases Draft Instructions for Filling Out ACA Reporting Forms (cont)
Purpose of forms is to check if employer and individual mandate rules are being followed. More specifically:
If employers are sponsoring health coverage
and/or
Whether individuals receiving federal healthcare subsidies truly qualify for them
Forms are not filed until 2016, but require monthly information recording beginning in January 2015, so employers should take note and start familiarizing themselves with the requirements
4
Dependent Children Coverage The Affordable Care Act requires all commercial plans
to offer coverage to dependent children until their 26th birthday
A provision of the Employer Shared Responsibility regulations will extend the offering of coverage to dependent children until the end of the month in which they turn 26
Effective Date Employer Size
2015 100 or more full time equivalent employees
2016 50-99 full time equivalent employees
*This provision does not apply to employers with fewer than 50 full time equivalent employees
