ACA Compliance for Employers: Preparing for New 2016 Information Reporting Requirements

Documenting and Reporting Workforce Classifications and Health Plan Offerings Under the Employer Mandate

Recording of a 90-minute CLE webinar with Q&A


Conducted on Tuesday, October 6, 2015

Recorded event now available

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Program Materials

This CLE webinar will provide employment and ERISA counsel with current planning techniques to ensure employer compliance with the Affordable Care Act’s (ACA) new 2016 information reporting requirements. The authoritative panel of ACA experts will offer guidelines for both applicable large employers as well as small employers who are not subject to the employer mandate but may still have reporting obligations, and will outline the steps employers should take now to prepare to comply and avoid penalties.

Description

The ACA’s reporting provisions for the employer mandate require employers to file informational returns with the IRS and annual statements to employees beginning in early 2016. Even though the employer mandate only applies to “applicable large employers,” both large and small employers have reporting requirements.

Employers that are part of a large employer “controlled group” are each responsible for their own reporting duties. Different employers must complete different parts of different forms.

Forms and statements are due in early 2016, so employers should prepare now. Employers that fail to file/distribute statements are subject to penalties (up to a maximum of $3 million per calendar year). The rules are complicated and can change depending on whether even one full-time employee obtains subsidized coverage on the insurance exchange. Employers must also accurately assess and report on employees’ work status (part-time or full-time) according to ACA standards.

Listen as our authoritative panel of ACA experts discusses planning techniques to ensure employer compliance with the ACA’s new 2016 information reporting requirements. The panel will offer guidelines for both applicable large employers as well as small employers who are not subject to the employer mandate but may still have reporting obligations, and will outline the steps employers should take now to prepare to comply and avoid penalties.

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Outline

  1. Overview of ACA employer mandate provisions
  2. Forms 1094-C, 1095-C, 1094-B, 1095-B
  3. IRS filing and distribution deadlines
  4. Workforce classification and documentation
  5. Best practices for employer recordkeeping
  6. Potential liability and penalties under the employer mandate

Benefits

The panel will review these and other key issues:

  • What steps should employers take now to comply with the ACA reporting requirements in early 2016?
  • What are the specific requirements for appropriate plan documentation and communication?
  • What are the reporting requirements for employers that are part of a “controlled group”?
  • What reporting requirements are smaller employers subject to?
  • Which employees are considered “full-time employee” under the ACA?
  • How should employers best document plan and coverage options?

Faculty

Susan M. Nash
Susan M. Nash

Partner
McDermott Will & Emery

Ms. Nash is Chair of the firm’s Health and Welfare Plan Affinity Group. She focuses her practice primarily in the...  |  Read More

Tiffany N. Santos
Tiffany N. Santos

Director
Trucker Huss

Ms. Santos counsels employers and multiemployer trusts on all aspects of their employee benefit plans, including...  |  Read More

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