Compliance News

Who Has To Provide 1094/1095-C Statements to Employees and the IRS?

Who Has To Provide 1094/1095C Statements to Employees and Information to the IRS? Question The insurance carrier confirmed that the Form 1095-Bs were filed for the fully insured plan, so does th...

Amwins Connect - March 2024 Question of the Month

Amwins Connect – March 2024 Question of the Month Question What is the penalty for failing to prepare and submit Forms 1094 and 1095 (B or C)? Answer Employers that fail to file, file late...

ERISA Enforcement and Penalties

ERISA Enforcement and Penalties Employer group health plans should be reminded of the importance of the employer’s role as a fiduciary of the benefit plans offered to employees. As a fiduciary, ...

Employer Reporting Tip - ACA Reporting Deadlines

Employer Reporting Tip - ACA Reporting Deadlines February 29, 2024 Question Are there extensions available for the ACA employer reporting deadlines? Answer The ACA employer reporting de...

Covered California Small Business | Important Notice on CAA, Section 204 Pharmacy Reporting

“Under Section 204 (of Title II, Division BB) of the Consolidated Appropriations Act, 2021 (CAA), insurance companies and employer-based health plans must submit information about prescription drugs a...

Purchase or Sale of Paid Time Off Through a Section 125 Cafeteria Plan

Purchase or Sale of Paid Time Off (PTO) Through a §125 Cafeteria Plan February 2024 Background §125 Cafeteria plans are generally set up to give employees access to a range of tax-free benefi...

Employer Fiduciary Duties - J and J Lawsuit

Employer Fiduciary Duties February 2024 The recent class action lawsuit against Johnson and Johnson (J and J) has received a lot of attention from employers. The suit accuses J and J of breachin...

ACA 1094 and 1095 Submission Deadlines - Employer ReportingTip

ACA 1094 and 1095 Submission Deadlines - Employer Reporting Tip Question When are the ACA employer reporting forms (Form 1094 and Form 1095s) due? Answer Copies of Form 1095s (1095-B or...

IRS Announces 2025 Decreases for Employer Shared Responsibility Penalties

IRS Announces ACA Penalties for 2025 Under Code §4980H (a) and (b) February 2024 On February 12, 2024, the IRS released Rev. Proc. 2024-14 to provide the adjusted excise tax amounts under the Af...

Nondiscrimination Rules - Options for Highly Compensated Individuals

Nondiscrimination Rules – Options for Highly Compensated Individuals (HCIs) February 2024 Benefit nondiscrimination rules restrict the extent to which employers may favor highly compensated indi...

Reminder - Medicare Part D Creditable Coverage Due to CMS by March 1, 2024

Reminder - Medicare Part D Creditable Coverage Reporting Requirement to CMS is Due By March 1, 2024 for Calendar Year Plans In addition to the disclosure requirements to individuals, plan sponsors ...

Updates to IRS FAQs - Premium Tax Credit

Updates to IRS FAQs about the Premium Tax Credit February 9, 2024 FS-2024-04 This month, the IRS updated their Frequently Asked Questions document with more information about the Premium Tax...