ACA Reporting that Keeps you Safe if you were Audited by the IRS
When should I file my Forms?
Which Reports do I need to file?
- 1094-C and 1095-C: Employers with 50+ employees will need to use these forms to report both fully insured and self-insured plans. Once completed for each employee, they must be submitted to the IRS using submittal form 1094-C.
- 1094-B and 1095-B: Employers with fewer than 50 employees who provide employer-sponsored self-insured health coverage will use forms 1094 & 1095-B. Click here for 1094-B and 1095-B IRS instructions.
Why Hire ACA Expert?
The reporting codes are complicated and if done incorrectly can result in fines to your organization. We make sure everything is 100% accurate, eliminate the hassles of doing it yourself, are fairly priced and guarantee on-time completion. If adjustments are needed, we can make needed corrections.
1094 & 1095
We will Create the Required 1094 & 1095 Documents.
YOU HAVE OPTIONS
We give you the option to E-File with the IRS and Mail to Employees.
DEDICATED ACA ANALYST
Stress-free document collection.
We Determine 1 & 2 Series Codes for you.
We can help if you receive letters from the IRS on past reporting errors, letters 226-J.
IT’S A BREEZE
All you need to do is work with your assigned ACA Expert who will ask for necessary information, then complete the reporting for you. You have the option to either mail forms yourself or to have us take care of it.
Fewer than 25 employees – Pricing starting at $350.00
50 or more employees – Pricing starts at: $1800.00
What are the ACA Deadlines?
The critical 2020 filing deadlines for 2019 coverage January 31st. Paper filing with the IRS is February 28 and Electronic filing with IRS is March 31st. As in the past, the IRS has extended the Jan. 31 deadlines by 30 days , in Notice 2019-63. Although the IRS has extended the Jan. 31 deadlines to furnish ACA reporting forms to employees by 30 days, employers may still decide to distribute 1095 forms to employees in January along with employees’ W-2 earnings statements. “The IRS will not grant an additional 30-day extension beyond this deadline,”. Although the IRS has extended the Jan. 31 deadlines to furnish ACA reporting forms to employees by 30 days, employers may still decide to distribute 1095 forms to employees in January along with employees’ W-2 earnings statements. “The IRS will not grant an additional 30-day extension beyond this deadline.” Reporting entities may, however, request individual extensions to file these forms with the IRS. Even with the automatic extension for distributing forms, “the IRS specifically encouraged employers and other coverage providers to send the forms to employees and individuals as soon as possible.”
What are the ACA Late Penalties?
Employers can expect higher penalties for ACA violations, for being late, misfiling’s, and not properly providing coverage. The IRS has begun “aggressive enforcement of the ACA,” sending out Letter 226J penalty notices for noncompliance with the employer’s shared responsibility payment provision. The Department of Health and Human Services issued the 2020 Notice of Benefit and Payment Parameters final rule in April 2019, and based on the inflation-adjustment factor in the final rule, compliance advisers project that the ACA 2020 penalty amounts, adjusted annually from the initial penalties set in 2014, will be as follows: Section 4980H(a) penalty is expected to increase from $2,320 per employee to $2,500 per employee. This penalty is imposed on employers who fail to offer full-time employees and their dependent children the opportunity to enroll in minimum essential coverage sponsored by the employer if at least one full-time employee obtains a premium tax credit for insurance purchased through an ACA marketplace exchange. The Section 4980H(b) penalty is expected to increase from $3,480 per employee to $3,750 per employee. This penalty is imposed on employers whose plan fails to meet the affordability and minimum value requirements. Other ACA penalties, including failure to file Form 1095 with the IRS and failure-to-furnish forms to employees, are expected to increase from $260 to $270 per return.
HR Service has been a key partner in delivering compliance resources and support to our employee benefit clients across the US. As a broker for many years, we’ve worked with countless vendors and attorneys on compliance issues, specifically the ACA, and our experience with HR Service and our account manager Holly has been far and away from the best service we’ve had in the health and welfare arena. Their detailed responses, willingness to talk through tough issues with our clients, and flexibility in responding to our needs blow away the competition and not mention their competitive pricing and ease of access to their platform and support team. They make our firm more profitable by leveraging their tools and delivering better service, all while freeing us up to focus on sales and other opportunities. Specifically, we’ve had the best service team, and Holly has become our go-to for all of our ACA reporting and compliance needs. I can’t express enough how enjoyable she is to work with and how grateful we are that we’ve been able to work together and will continue to do so.
Tiffany Flannigan – Director of Spectrum Benefits