The concept of high deductible health insurance is incredible. In fact, it’s been one of my favorite things in the health insurance industry. But I am starting to have some concerns.
Higher deductibles put more financial pressure on the end user, meaning the consumer must be more aware of their health and spending.
Every decision you make has a cost. Read more
You are probably starting to receive at least one of these forms if you are insured. But what are you to do with them? And why are you receiving this form?
These forms are used to reconcile the offerings of benefits, via the Marketplace, insurers, and applicable large employers.
The forms were supposed to be filed and out by January 31st in order to file with your 2015 tax return, along with your W-2. But there was another delay by the ACA. The deadline is now March 31, 2016. All parties are working to get these forms to you! Keep an eye on your mailbox.
So what is the difference in these forms? Read more
Today (12/28) the Internal Revenue Service (IRS) sent out a belated Christmas present to employers and other plan sponsors when it announced it was delaying the 2016 Affordable Care Act reporting requirements. In Notice 2016-4 the IRS announced that the deadline for providing to individuals the 2015 Form 1095-B and Form 1095-C is delayed from February 1, 2016 to March 31, 2016. Similarly, the deadline for filing with the IRS Forms 1094-B and 1094-C is delayed from February 29 to May 31, 2016 for non-electric filers and from March 31 to June 30, 2016 for electronic filers.
Because of the delay, some employees will not receive their forms until after the April 15 tax filing deadline. The IRS indicates that these employees do not have to file an amended tax return. They should simply keep their forms in a file should they need them later. Read more
