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What does IRS affordability change mean for 2024 ACA compliance?

In late August the IRS announced changes to the 2024 health plan affordability threshold. [See IRS Rev. Proc. 2023-29.] This is the measure used to determine if an employer’s lowest-premium health plan meets ACA affordability requirements. The 2024 threshold will be 8.39% of an employee’s household income. That is significantly down from this year’s 9.12% …

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With new federal ruling, will employers eliminate coverage for preventive services?

If a new ruling against the Affordable Care Act (ACA) is upheld, employers will have the choice to increase costs for some preventive services. The case, Braidwood v. Becerra, was overseen by U.S. District Court Judge Reed O’Connor and calls for the government to immediately stop enforcing Affordable Care Act (ACA) rules that require health plans …

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Women’s History Month: A Time to Celebrate Women’s Health and the ACA

March marks both Women’s History Month and the anniversary of the signing of the Affordable Care Act (ACA). As a proud women-owned company and the leading specialist in ACA reporting and compliance, BenefitScape is delighted to celebrate both. Since its enactment on March 23, 2010, the ACA has advanced health equity in the United States, …

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TY2023: IRS Reducing Paper Forms and Expanding 1094/1095 e-Filing Requirements

Late in February, the Department of the Treasury and the Internal Revenue Service issued final regulations amending the rules for filing returns and other documents electronically (e-file): IRS and Treasury issue final regulations on e-file for businesses | Internal Revenue Service . These regulations require e-filings beginning in 2024 (for Tax Year 2023). From an …

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Rhode Island Permanently Extends ACA Deadlines

  ACA filing for the 2022 tax year is fast approaching. Any employers with employees located in Rhode Island should note that the Rhode Island Division of Taxation recently changed the filing deadlines related to state individual mandate reporting requirements. As a reminder, since 2020, the Rhode Island individual mandate (“RI Mandate”) has required Rhode …

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Federal money running out for uninsured COVID patients

BenefitScape Offers Additional Services to Ceridian Users

BenefitScape is a certified Ceridian Dayforce Partner. This status reflects the value BenefitScape brings to ACA reporting and compliance for thousands of employers across all HCM platforms. And for Ceridian Dayforce users, it means BenefitScape can provide additional services too. “We understand the Ceridian system, we know healthcare, and we make it work.” Kim Phillips …

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IRS Releases RP 2020-36 with Affordability Updates

IRS Hearing on the “Family Glitch” SCHEDULED for June 27, 2022

Earlier this spring, the IRS issued a proposed rule that would change the eligibility standards for an Affordable Care Act (ACA) premium tax credit (PTC) based on the affordability of health plan coverage for family members of employees who are offered coverage by their employers. The proposed rule is designed to provide greater access to …

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BenefitScape® has been recertified as a Women-Owned Enterprise (WBE) by the Women's Business Enterprise National Council (WBENC)

BenefitScape® has been recertified as a Women-Owned Enterprise (WBE) by the Women’s Business Enterprise National Council (WBENC)

Natick, MA, May 17, 2022 —BenefitScape, a women-owned leader in Affordable Care Act (ACA) compliance, today announced it has been recertified as a Women-Owned Enterprise (WBE) by the Women’s Business Enterprise National Council (WBENC). The certification is awarded to companies that are more than 51 percent owned, controlled, operated, and managed by a woman or …

BenefitScape® has been recertified as a Women-Owned Enterprise (WBE) by the Women’s Business Enterprise National Council (WBENC) Read More »

IRS Issues Extension for Furnishing Forms 1095-B/C and Eliminates Transitional Good Faith Relief for Tax Year (TY) 2021

IRS Issues Extension for Furnishing Forms 1095-B/C and Eliminates Transitional Good Faith Relief for Tax Year (TY) 2021

The IRS has issued REG-109128-21, which: — Extends the due date to March 2, 2022, for the TY2021 IRS Form 1095-B/C to be sent to employees (was previously January 31, 2022). — Confirms that the due date for filing the 1095 Forms with the IRS remains the same: ○ February 28, 2022 (if filing paper …

IRS Issues Extension for Furnishing Forms 1095-B/C and Eliminates Transitional Good Faith Relief for Tax Year (TY) 2021 Read More »

Health Plan Surcharges Affect ACA Affordability and IRS Code Determination

Health Plan Surcharges Affect ACA Affordability and IRS Code Determination

More employers are considering imposing a premium surcharge on employees participating in the company's health plan who are not vaccinated for COVID-19. Whether set as rewards or penalties, wellness program incentives have become popular for encouraging behaviors believed to be healthy and reducing health plan costs. For many years, tobacco users have faced health plan …

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IRS moves to eliminate Paper filing for ACA Form 1095 effective March 31

IRS moves to eliminate Paper filing for ACA Form 1095 effective March 31, 2022

The IRS has proposed regulations requiring a digital only electronic filing requirement for ACA Compliance, in effect replacing paper filing options for most Applicable Large Employers (ALE’s). Previously ALE’s with fewer that 250 forms could file with paper. The new regulations (if adopted) require employers to aggregate all forms they file to the IRS, (W2, 1099 …

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How to complete State Healthcare Mandate filing requirements using ORACLE generated files for CA

How to complete State Healthcare Mandate filing requirements using ORACLE generated files for CA, NJ, RI and DC.

 Problem Statement: In addition to IRS filing to IRSAIR, organizations also must file with CA,NJ, RI and DC, if they have employees in these states. Each state has different requirements for file processing, obtaining credentials, error correction etc. Understanding and implementing these requirements can be time consuming and error prone.  The Solution: ORACLE has a …

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IRS Provides Additional Codes for ICHRAs Under Section 6056

IRS Provides Additional Codes for ICHRAs Under Section 6056

More good news for employees to obtain affordable Health Insurance The Internal Revenue Service (IRS) provided two additional codes from Code Series 1 to be used on Form 1095 for ICHRA Reporting on line 14. This is used for reporting offers of individual coverage HRAs (ICHRAs) under Section 6056. These codes were previously reserved (unused) on …

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Ceridian Insights The BenefitScape Role

Ceridian Insights The BenefitScape Role

BenefitScape is a Ceridian implementation partner for Dayforce with certified consultants specializing in Employee Benefits. We participated in the Partner Zone, which showcases our Ceridian related services, highlighted in this video.

Rhode Island Joins the States Requiring Healthcare Mandate Reporting

Rhode Island Joins the States Requiring Healthcare Mandate Reporting

Who is subject to this reporting requirement? An employer or other sponsor of an employment-based health plan that offers employment-based minimum essential coverage to any resident of Rhode Island. So essentially any company that provides healthcare coverage through Rhode Island residents will be required to file. The good news is that the state is being very flexible …

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IRS Issues Extension for Furnishing Forms 1095-B/C and Eliminates Transitional Good Faith Relief for Tax Year (TY) 2021

IRS Issues Extension For Furnishing Forms 1095-B/C and Reinforces Good Faith Transition Relief for a Final Time

The IRS has issued Notice 2020-76 extending the due date for the 2020 1095-B and 1095-C forms to be sent to employees from January 31, 2021 until March 2, 2021. However, the Notice also confirms that the due date for filing those same 1095 Forms with the IRS remains the same: February 28, 2021 if filing paper …

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TY2018 IRS Letters 5699 and 226J Reopened and Reissued

TY2018 IRS Letters 5699 and 226J Reopened and Reissued

The IRS has recently begun issuing and re-sending Letters 5699 for Tax Year 2018 for non-filers. Their Enforcement Office located in Ogden, UT was temporarily closed in March 2020 in response to the COVID-19 state stay-at-home orders. The office was originally scheduled to reopen on July 15th but recently reopened in late August.  IRS Letters: …

TY2018 IRS Letters 5699 and 226J Reopened and Reissued Read More »

Let's Review the Recent ICHRA Updates on Forms 1095 & 1094

Let’s Review the Recent ICHRA Updates on Forms 1095 & 1094

We've previously blogged about the updated Forms 1094-B/C and 1095-B/C for TY2020, and now we're pleased to share some further insight into some of the changes made on this years' forms, specifically surrounding Individual Coverage Health Reimbursement Arrangement (ICHRA) compliance. There are several big changes: New data fields on Form 1095-C to include an individual’s zip code …

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ACA Considerations for Furloughs and Layoffs During COVID-19

ACA Considerations for Furloughs and Layoffs During COVID-19

As COVID-19 severely affects various industries such as hospitality and food service, your organization may be experiencing mass furloughs and layoffs to protect your business. As you and your team work through these changes, ACA Compliance and Reporting may top be top of mind, but we're here to help you with these efforts to avoid …

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