Most recent posts

  XML Feeds

Search

« MedBen Rx Solutions Put Transparency Up FrontMedBen Successfully Completes Latest ISO 9001 Audit »

MedBen Ready to Assist Clients with IRS ACA Reporting

10/18/18

  08:12:00 pm, by MedBen5   , 374 words,  
Categories: Announcements, Health Care Reform, IRS

MedBen Ready to Assist Clients with IRS ACA Reporting

IRS Building

It is hard to believe, but we've already entered the final quarter of 2018. If you're a self-funded employer, that means it is time to start thinking about and planning for a critical health care reform mandate: Providing the IRS with an accurate accounting of health coverage for full-time employees. As in year’s past, MedBen offers helpful services to assist plan sponsors with this task.

Per the Affordable Care Act, health coverage data collected during 2018 must be aggregated and reported to employees no later than January 31, 2019 on IRS Form 1095 and reported to the IRS no later than February 28, 2019 (if filing by mail) and April 1, 2019 if filing electronically on IRS Form 1094. Applicable Large Employers (those with 50 or more employees), or ALEs, must report using the IRS’ C-series forms, and small employers (those with fewer than 50 employees) offering coverage must report using the IRS’ B-series forms.

MedBen has again partnered with MyBenefitsChannel – also known as Sanorbix – to provide reporting assistance for ALE clients. MyBenefitsChannel has several service options available to help ALEs create and distribute Form 1095-C to employees and prepare and file Form 1094-C with the IRS. MedBen will also be available to assist clients who are small employers by offering related IRS Forms (1095-B – employee notice and 1094-B – IRS transmittal) services for a nominal fee.

Even though the January deadline is over three months away, we strongly recommend that our clients purchase these services as soon as possible.

  • If you purchased these services from MyBenefitsChannel last year, you will get renewal information from MyBenefitsChannel directly if you have not already done so. Please note that MyBenefitsChannel is not increasing their fees, so the price remains the same as last year.
  • If you wish to purchase these services from MyBenefitsChannel for the first time, please let MedBen know immediately.
  • If you are planning to create these forms yourself, or you’re working with another vendor, we would appreciate knowing that too.

Regardless of your preferred approach, it is important that you start planning now. If you need more information on these requirements, you can download MedBen’s Summary of the ACA Reporting Requirements from MedBen.com.

MedBen clients with questions regarding this information may contact their Group Service Representative or Vice President of Compliance Caroline Fraker at 800-851-0907 or cfraker@medben.com.

No feedback yet