ACA Penalty Notices Hit Mailboxes, Sample Letter 226J Available

Thanks to a partnership with a third-party legal consultant, Equifax has learned that employers are indeed receiving Letter 226J from the IRS for Affordable Care Act (ACA) non-compliance in tax year 2015. The Equifax ACA team explained in a recent blog post that such penalty letters were forthcoming, and now it’s confirmed they’re here. To [Read More…]

IRS Releases ACA Forms, Instructions, and Guidance for 2017

In October, the Internal Revenue Service (IRS) published updated versions of  Affordable Care Act Forms 1094-C and 1095-C, as well as the instructions for how to complete the forms for tax year 2017. Forms 1094-C and 1095-C are used by Applicable Large Employers (ALEs) to report on employer-provided health insurance offers and coverage.  The updated [Read More…]

Understanding Trump’s October 2017 Executive Actions

There have been two recent actions by President Trump regarding the Affordable Care Act (ACA) that may cause employers some confusion. The Equifax ACA team has compiled an overview to  help employers better understand what these actions mean for their organization. 1.) The Executive Order from 10/12/2017- Presidential Executive Order Promoting Healthcare Choice and Competition Across [Read More…]

ACA Legislative Update: June 2017

It has been just over a month since the House of Representatives passed the American Health Care Act (AHCA) bill on May 4th. If you’ve been wondering, “What’s been going on lately? What’s next?” you’re certainly not alone. What’s happened since the May 4th AHCA bill passage? The Congressional Budget Office (CBO) released its report [Read More…]

10 Most Common ACA Challenges Employers Face in 2017

It’s been quite a saga for the Affordable Care Act (ACA) over the last year. It was dead, then maybe not, and now it’s here to stay (at least for now). In a recently-released audit and report completed by the Treasury Inspector General for Tax Administration (TIGTA) titled, “Affordable Care Act: Assessment of Efforts to Implement [Read More…]

A Glimpse into the Fate of the ACA for Employers

A Glimpse into the Fate of the ACA for Employers In all the talk about President Donald Trump’s plans to change the Affordable Care Act, employers may be feeling uncertain on how this ever-evolving legislation impacts their current ACA compliance strategy.  Many experts believe that changes to the provisions of the ACA could take several years, meaning [Read More…]

ACA Penalties on the Way, IRS Letter 5699 Requests Missing Reporting

Recently, the IRS began sending Letter 5699 to request missing 2015 Affordable Care Act (ACA) reporting from Applicable Large Employers (ALEs).  A sample of this letter is available here. In the Letter 5699, titled “Request for Employer Reporting of Offers of Health Insurance Coverage (Forms 1094-C and 1095-C)”, a tax compliance officer is notifying the [Read More…]

ACA Update: IRS Extends Distribution Deadline for 1095 Forms

Note: this post was updated on January 3, 2018. Just before many employers left the office for December 2017 holiday breaks,  the IRS made the important announcement that they are extending the distribution deadline for 1095 forms. The Equifax ACA team has reviewed the official documentation from the IRS to provide you with the important details [Read More…]

ACA Update: Election Aside, 2016 Reporting Requirements Remain

While there has been significant speculation about how the results of the 2016 election will impact ACA, the current regulations and accompanying penalties are still in place. The new administration would have a difficult time making any significant changes before the January 31, 2017 deadline to furnish 1095-Cs to employees and enrolled individuals. The Republican [Read More…]

In the News: How Will Rising ACA Premiums Affect Employers?

By now, you have likely seen numerous headlines and reports about Affordable Care Act (ACA) health insurance premiums increasing an average of 25% for the 2017 plan year. While this increase may be worrisome for plan subscribers, it’s important for employers to understand the implications of these rising ACA premiums as well. What do ACA (also [Read More…]