BAS Blog


 

Question of the Week

Q.- We sent a terminated employee a COBRA notice, but it was returned for the wrong address. The election period has ended. Do we have to send a new notice?

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Updated Form 2441- Child and Dependent Care Expenses

The IRS released an updated Form 2441 and instructions for the 2018 tax year.

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Form 1095 Distribution Due Date Approaching

Employers must make sure they meet the Affordable Care Act Form 1095-C reporting deadline which is fast approaching. 

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Question of the Week

Q.- We are preparing our 1095-C Forms. We don’t have the Social Security Number for some employees’ covered dependents. The Form asks for SSN. What should we do?

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Employer Credit for Paid Family and Medical Leave

Certain employers may be eligible to receive a credit for paid family and medical leave in tax years after 2017. The IRS recently released Form 8994 and Instructions for how to claim the credit.

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Distributing ACA Forms by Email

Employers required to distribute Form 1095 may furnish the forms electronically if certain procedures are followed. Electronic distribution can save employers money on postage and handling and can provide employees on-demand access to their ACA forms. BAS’ ACA data collection and reporting service includes an email (preferred) distribution option.

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Question of the Week

Q.- How does a person on COBRA get a disability extension? Does the person just need a doctor’s note to be eligible for coverage beyond 18 months?

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CMS Filing for Medicare Part D

The Medicare Modernization Act requires employers with health plans that include prescription drug coverage to notify Medicare-eligible participants if the drug coverage is “creditable” or not. This means the employer must let participants know if the employer’s prescription drug coverage is expected to pay on average as much as the standard Medicare prescription coverage. Employers must also inform CMS of the creditability of their prescription drug coverage.

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Deadline Approaches for 1094-B/C Transmission

While employers are in the process of preparing and distributing their 1095 Forms to meet the extended deadline of March 4, 2019, they should remember that the IRS did not extend the Form 1094 reporting timeline.

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Question of the Week

Q.- When does a COBRA qualifying event notice have to be provided?

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Health Plan Documentation for ERISA Plans

Health plans subject to the Employee Retirement Income Security Act (ERISA) must provide information about the plan to participants. Plan participants have a right to know about plan rules, financial information, plan operation and plan management.

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CRS Employer Shared Responsibility Report

The Congressional Research Service (CRS) publishes a report which is useful for understanding the Employer Shared Responsibility provisions of the Affordable Care Act (ACA).

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