26 THE QUEENS COURIER • QUEENS BUSINESS • AUGUST 10, 2017 FOR BREAKING NEWS VISIT WWW.QNS.COM
Employer-Sponsored Healthcare Coverage remains as is for the foreseeable future.
The battle on what will and will not change in the ACA health plan has not been resolved.
However, it would be good to remember that it took over 14 months to pass the original
affordable care act. Therefore, we need to wait and see as things evolve. Until then, as
employers, it is important to know where you stand.
• Small groups under 50 full time equivalent employees do not have to report the IRS forms 1095-B and 1095-C.
• Groups over 50 full time equivalent employees must file IRS forms 1095-B, 1095-C, and if you are self-insured, 1094-C.
• Premium rates on both small and large groups will still continue to contain ACA taxes as part of your premium.
The fall is the busiest time of the year for the insurance industry, and mistakes are made.
Large groups: Waiting until the last minute is harmful to your negotiations and analysis of your
benefit package choices, and can also be costly.
Small groups: Waiting until the last minute for renewal information, quotes,
d other delays such as enrollment materials and ID cards can be
overwhelming and costly.
Here is a checklist:
• Start your renewal process at least 4 months prior to your renewal date.
• Contact your benefits consultant to start compiling the choices available to you.
• he necessary data to move ahead such as employee census, current carrier invoice, and benefit summary.
Of course this is only the beginning, and we’re here to guide through this process – every
of the wayf you are willing to start early
For more information Email: SSparano@OneGroup.com r call 718-897-3903
Call Now & End Your Tax Nightmare!
Co-Author of the
best selling book
“Breaking the Tax Code”
Salvatore P. Candela, EA, ATA, ABA
Enrolled Agent - Tax Advisor
Your trusted Team Leaders:
Sher Sparano David Capo Sarah Clarke
As promised in last month’s article,
We’re updating you on the National Health Care Reform (ACA).