HR & Compliance

  • February 2016 Compliance Newsletter by

    Posted on: February 8, 2016Categories: HR & Compliance

    Medicare Part D Disclosures due by March 1, 2016 for Calendar Year Plans HIGHLIGHTS Employers with health plans that provide prescription drug coverage to individuals who are eligible for Medicare Part D are subject to certain disclosure requirements. Plan sponsors must complete an online disclosure form with CMS within 60 days after the start of the plan year, or March 1, 2016, for calendar year plans IMPORTANT DATES March 1 Deadline for sponsors of calendar year plans to complete an onli ...

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  • January Compliance by

    Posted on: January 11, 2016Categories: HR & Compliance

    On Dec. 16, 2015, the Internal Revenue Service (IRS) issued Notice 2015-87 to address how certain provisions under the Affordable Care Act (ACA) apply to employer-provided health coverage. The notice covers the ACA’s market reforms as well as the employer shared responsibility rules and related reporting requirements.   Key provisions of the notice include: Confirmation of adjusted employer shared responsibility penalty amounts. For 2015, the adjusted penalty amounts are $2,080 and ...

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  • 2015 Testing Now Open for Electronic Reporting under Sections 6055 and 6056 by

    Posted on: November 12, 2015Categories: HR & Compliance

    Quick Facts: 2015 testing for Sections 6055 and 6056 electronic reporting is now available. Entities that file 250 or more returns are required to file electronically. Electronic filing will be done using the AIR Program, which is not yet available. A waiver of the electronic filing requirement is available upon request. The Affordable Care Act (ACA) created new reporting requirements under Internal Revenue Code (Code) Sections 6055 and 6056, which require certain employers to provide info ...

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