BAS Blog


 

Year-End Reports in MyEnroll.com

Client administrators have two year-end reports available to them through MyEnroll.com’s Report Generator module.
 
To access the Report Generator, log into MyEnroll.com with your administrator user ID and password. After you have logged in click on “Access Report Generator” in the left toolbar. The reports are grouped in categories in MyEnroll, making it easy to locate the desired report. A client administrator can generate a report online and can also export the report to an Excel file.
 
Below are two year-end reports that administrators may find useful.

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Question of the Week

Q.- We have an employee in our Dependent Day Care FSA who cannot get a tax ID for her daycare provider. Can her claim still be reimbursed?

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New Tool to Help with Medical and Disability Leave Compliance

The U.S. Department of Labor released an online tool, the Medical and Disability Related Leave Advisor, that helps employers understand their responsibilities to provide medical and disability leave to their employees. The interactive tool allows employers to enter information such as size of workforce, type of business, the veteran status of the individual, and whether financial assistance is available. 

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More Time to Provide Information to Employees

The IRS extended the time for employers and coverage providers to furnish information to employees and covered individuals. Notice 2016-70 extends the due date for furnishing 2016 Form 1095-B and Form 1095-C from January 31, 2017 to March 2, 2017.  The Notice also extends transition relief from penalties if an employer makes a “good faith effort” to comply with reporting requirements.

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Question of the Week

Q.- The IRS extended the date for furnishing Form 1095 to covered employees and full-time employees. Do we have to wait until March 2, 2017 to send Form 1095?

A.- No. You may furnish Form 1095 when it is ready to be distributed. The extension does not require that you wait until March 2 to distribute the form.
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21st Century Cures Act

The President just signed into law the 21st Century Cures Act which gives small employers (those with fewer than 50 full-time employees) new options for providing health coverage.

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Opt Out Payments in Cost of Coverage

Employers that offer opt-out payments to employees who decline health coverage must review those payments for Affordable Care Act compliance.

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Question of the Week

Q.- We are a not-for-profit charitable organization.  We had over 50 employees for most of this year.  In 2015, we had fewer than 50 employees.  Will the Affordable Care Act apply to us in 2016?  Does it apply to charitable organizations?

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Revised Form I-9 Issued

The United States Citizenship and Immigration Services (USCIS) issued a revised Form I-9, Employment Eligibility Verification.  The new form must be used starting January 22, 2017, but may be used immediately.

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ACA and Seasonal Workers

With the holidays approaching and many employers hiring temporary help, the IRS has provided a tax tip for employers who use seasonal or holiday workers. 

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Question of the Week

Q.- We are a small employer with a self-funded plan, so we issue Form 1095-B to covered employees.  If an employee terminates employment during the month, do we report coverage for that month?

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Revised Form 5500

Retirement plans and certain health/welfare plans subject to the Employee Retirement Income Security Act (ERISA) must file an annual report disclosing information about the financial condition and operation of the plan. This annual report is completed on Form 5500 which is filed jointly with the Department of Labor, Internal Revenue Service and Pension Benefit Guaranty Agency.  Form 5500 is generally filed 7 months after the end of the plan year. 

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IRS Tips for Large Employers

The IRS released a useful summary of important items for employers to consider for ACA compliance.  Called Health Care Information Reporting:  Seven Things Employers Can Think About Now, the IRS explains that if your organization is an applicable large employer, you must report information about the coverage you offer to your full time employees.  Specifically, the IRS identifies the following seven considerations:

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