Hi guys, Welcome to the Advanced Video Search Engine, and you are watching Large employer Reporting 2020 (ACA Reporting). That video is uploaded by Sky Insurance Tech at 2020-07-10T10:31:52-07:00. We are promoting this video only for entertainment and educational purpose only. So, I hope you like & enjoy it. [vkQGc-tb_p4]
| Name | Large employer Reporting 2020 (ACA Reporting) |
| Video Uploader | Video From Sky Insurance Tech |
| Upload Date | This Video Uploaded At 10-07-2020 17:31:52 |
| Video Discription | Visit us at HealthCareReporting.com The Affordable Care Act has always been a controversial issue for employers since it was passed in 2010. Employers to this day are still asking if it is something they need to comply with and take care of. The short answer is yes, very much so. The ACA still remains the law of the land for the 2020 calendar year, and employers will once again be required to furnish, and file 1095C forms. The portion of the ACA that is still in full effect is the Employer Mandate. This requires employers that are considered ALES (Applicable Large Employers) to offer and report on health coverage to their full-time employees. It is important to note that 1095C’s need to be furnished to employees by January 29th, 2021 as well as the 1094 and 1095C being filed to the IRS by March 31st, 2021. Paper filing needs to be completed even sooner, on February 26th. As for the bad news, a large number of employers have begun receiving the 226J penalty letter from the IRS, assessing penalties for failing to comply with the ACA requirements. A common misconception is that the ACA has been repealed. The portion “repealed” was the individual mandate which required individual US citizens to have compliant coverage or otherwise pay a penalty. The employer mandate, which requires organizations to furnish and file the forms still remains in full effect. Reporting for the calendar year 2020 is definitely going to still be required, and penalties for noncompliance will continue to be assessed. vkQGc-tb_p4 |
| Category | People & Blogs |
| Tags | employer mandate | 6056 | ALE | applicable large employer | Aca reporting | aca reporting service | aca reporting services | 5500 reporting | healthcare compliance | ERISA | obamacare repeal | 1095C | 1095B | 1095A | 1095 C | 226J | Letter 226J | Irs 226J | Aca reporting 2020 | healthcare reporting | Healthcare reporting | affordable care act | affordable care act reporting | ACA tax reporting | ACA reporting requirments |
