I can hardly believe that we are discussing 2017 but it is only eight weeks away and things are changing! The Affordable Care Act (ACA)has a number of changes coming in the new year. The most significant change involves the reporting requirements which will be due earlier this year. Copies of Forms 1095-B and/or 1095-C will need to be provided to employees and individuals by January 31, 2017. Reporting to the IRS will be due by February 28, 2017 if filing manually and March 31, 2017 if filing electronically. Last year we had a grace period because it was the first time businesses had to file these documents. Companies with 50 or more employees are required to offer insurance and distribute these documents.
You may be scratching your head asking how do you keep up with all of this? You have a lifeline! We love this stuff and understand what it all means. We will stay a few steps ahead of you and be proactive.