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Associated Benefits and Risk Consulting - Employee Benefits


ACA reporting for 2020

The IRS recently released final 2020 Forms 1094-C and 1095-C and applicable instructions ahead of Affordable Care Act (ACA) reporting for 2020. As a reminder, applicable large employers (“ALEs”) must furnish Form 1095-C to full-time employees and file Form 1094-C and all 1095-Cs with the IRS. ALEs offering a self-insured group health plan must also furnish Forms 1095-C to covered employees or other primary insured individuals in the self-funded health plan (e.g., COBRA qualified beneficiaries). Additionally, due to the COVID-19 pandemic and challenges to business operations, ALEs may have variations to their reporting for 2020 due to furloughs and/or layoffs.

Making the transition to virtual open enrollment

No one understands better than the person who administers benefits about the difficulty of open enrollment season. It was hard enough ambushing employees in the workplace to remind them that they need to submit their packets. Let’s not even talk about the headache of creating multiple schedules so that employees can take physical breaks from work and listen to benefits presentations. Now, administrators must figure out the best way to get the packet to the eligible employees in the first place.

Important benefits extensions and information about medical loss ratio rebates

At USI, we are dedicated to helping employers stay on top of fast-changing legislative and regulatory developments and guidance related to health and welfare plans that could impact your business. Here we are sharing information on recent extensions to temporary benefit plan changes due to COVID-19, an extended deadline for applicable large employers (ALE) under the Affordable Care Act (ACA) to submit their Forms 1095-C and 1094-C to the IRS, and helpful guidance for employers that may have recently received a medical loss ratio (MLR) rebate from their health insurance carrier.