Chat with us, powered by LiveChat

Monthly Archives: September, 2017

  • Top 5 Open Enrollment Notices

    Certain Notices Must Be Distributed Around Open Enrollment

    A company’s open enrollment period can be a hectic time for management, HR, and employees alike. However, during the enrollment process, employers should remember their disclosure obligations. Below are five key notices that must be distributed to employees around the open enrollment period:

    1. Summary Plan Description (SPD): An SPD must generally be distributed to group health plan participants within 90 days after the employee becomes a plan participant. Click herefor more on the SPD requirement.
    2. Summary of Benefits and Coverage (SBC): An SBC must generally be provided to group health plan participants and beneficiariesprior to initial enrollment in, or upon renewal of, plan coverage. Click here to access an SBC template.
    3. Employer CHIP Notice: The Employer CHIP Notice must be provided to all employees that reside in states with group health plan premium assistance, annually before the start of each plan year. Click here to download a model Employer CHIP Notice.
    4. Notice of Special Enrollment Rights: This notice must be provided to all employees eligible to enroll in the employer’s group health plan, at or before the time the employee is initially offered the opportunity to enroll. Click here to access a model Notice of Special Enrollment Rights (see page 3, also marked as page 138).
    5. Medicare Part D Creditable or Non-Creditable Coverage Notice: This notice must generally be distributed before October 15 to all Medicare-eligible individuals who are offered prescription drug coverage under the employer’s group health plan. Click here to access model versions of the creditable and non-creditable coverage notices.

    Note: Additional notice requirements may apply depending on the particular features of the group health plan.

     

    Please Note: The information and materials herein are provided for general information purposes only and are not intended to constitute legal or other advice or opinions on any specific matters and are not intended to replace the advice of a qualified attorney, plan provider or other professional advisor. This information has been taken from sources which we believe to be reliable, but there is no guarantee as to its accuracy. In accordance with IRS Circular 230, this communication is not intended or written to be used, and cannot be used as or considered a ‘covered opinion’ or other written tax advice and should not be relied upon for any purpose other than its intended purpose.

    The information provided herein is intended solely for the use of our clients and members. You may not display, reproduce, copy, modify, license, sell or disseminate in any manner any information included herein, without the express permission of the Publisher. Kindly read our Terms of Use and respect our Copyright.

    Copyright © 2017 HR 360, Inc., All rights reserved.

    Read more
  • Health Care Reform Updates by Team Nash

    Final Forms 1094 and 1095 Not Yet Available

    Employers subject to the Affordable Care Act’s (ACA) information reporting requirements are reminded that the 2018 deadlines for reporting coverage provided in calendar year 2017 are currently as follows:

    • Applicable large employers (ALEs)-generally those with 50 or more full-time employees, including full-time equivalents-must file Forms 1094-C and 1095-Cwith the IRS no later than February 28, 2018 (or April 2, 2018 if filing electronically). ALEs must also furnish a Form 1095-C to all full-time employees by January 31, 2018

      .

    • Self-insuring employers that are not considered ALEs, and other parties that provide minimum essential coverage, must file Forms 1094-B and 1095-B with the IRS no later than February 28, 2018(or April 2, 2018, if filing electronically). These entities are also required to furnish a Form 1095-B to “responsible individuals” (may be the primary insured, employee, former employee, or other related person named on the application) by January 31, 2018.

    Note: The final Forms 1094 & 1095 for calendar year 2017 reporting are not yet available from the IRS.

    For more on employer information reporting requirements, check out our comprehensive section on Information Reporting.

    Please Note: The information and materials herein are provided for general information purposes only and are not intended to constitute legal or other advice or opinions on any specific matters and are not intended to replace the advice of a qualified attorney, plan provider or other professional advisor. This information has been taken from sources which we believe to be reliable, but there is no guarantee as to its accuracy. In accordance with IRS Circular 230, this communication is not intended or written to be used, and cannot be used as or considered a ‘covered opinion’ or other written tax advice and should not be relied upon for any purpose other than its intended purpose.

    The information provided herein is intended solely for the use of our clients and members. You may not display, reproduce, copy, modify, license, sell or disseminate in any manner any information included herein, without the express permission of the Publisher. Kindly read our Terms of Use and respect our Copyright.

    Copyright © 2017 HR 360, Inc., All rights reserved.

    Read more