IRS Extends Deadline for Furnishing 1095 Forms to Employees

December 30, 2017

Last Friday, the IRS issued Notice 2018-06 to announce the due date for furnishing 1095-B and 1095-C Forms to individuals has been extended from January 31, 2018 to March 2, 2018.  While the IRS has recognized many employers need additional time to gather and review their data in order to prepare the 2017 1095-B and 1095-C individual forms, the deadline for filing the 1094 and 1095 forms with the IRS was not extended and remains February 28, 2018 if filing by paper, or April 2,…
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Telemedicine Can Help Employers Increase Health Plan Value and Reduce Cost

December 30, 2017

Recently, the news has provided several perspectives on telemedicine, in which people can contact a doctor via phone or video. Depending on the article’s audience and focus, you may get the impression that telemedicine improves patient convenience, increases access to care, reduces costs to patients and employers, increases healthcare utilization and cost, and/or weakens the patient-primary care relationship. Which is it? Telemedicine can do all of these things. As discussed in Employers Embrace Telemedicine But Employees Exhibit Uncertainty, most large employers offer a telemedicine service,…
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New IRS Guidance Issued for ACA Penalty Assessments

November 30, 2017

For the first time, the IRS has provided guidance regarding how the Affordable Care Act (ACA) penalties, under Code Section 4980H, will be communicated to employers. The guidance comes in the form of a new section added to the ACA Questions and Answers page on the website. Questions 55 through 58 describe the penalty enforcement process which will begin with the IRS sending Letter 226J to Applicable Large Employers (ALEs) that appear to owe a penalty based on the information reported on Forms 1094-C…
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Don’t Forget Your COBRA Participants During Open Enrollment Season

November 7, 2017

MCG recognizes open enrollment season can be a hectic time however, it is important for employers to remember their COBRA responsibilities as the new plan year approaches.  COBRA qualifiers still in their election period and current COBRA participants must be given the same open enrollment options as similarly situated active employees. If you have a third party handling your COBRA administration, they too must be informed of changes in plan offerings and rates. Here are a few tips to help your company stay on top…
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The IRS Releases Final 1094-C/1095-C Forms and Instructions for 2017 Tax Year

October 31, 2017

The IRS recently released the 1094-C/1095-C forms and instructions to be used for the 2017 Applicable Large Employer (ALE) reporting .  While there are only minimal changes to the forms this year, there are indications that the IRS will be more strict in its enforcement of the reporting requirements and the penalties associated with the employer mandate. In addition, the IRS recently announced that it will reject individual tax returns if the taxpayer fails to indicate the health coverage status for all individuals included on…
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Changes to the 2018 ACA Affordability Standard

July 15, 2017

Although the healthcare coverage debate rages on in our nation’s capital, the Affordable Care Act (ACA) is still the law of the land. It is important that employers remain vigilant in their ACA compliance efforts. In particular, the “affordability standard” is a component of ACA that has been frequently overlooked. Employers should be reassessing their employee contribution structure annually to ensure compliance and avoid costly penalties. In order to determine affordability, the IRS sets an “affordability percentage” annually. The affordability percentage is applied to the employee’s…
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Five common errors to avoid in benefits communication

June 26, 2017

As we ease into our summertime schedules, Open Enrollment is lurking around the corner (for those of you with calendar-year plans). Creating benefits communications that are engaging and helpful to employees is not difficult, but does take some planning and coordination. MCG can assist with the planning process as well as with communications strategy and creation. Whether you hire a consultant such as MCG or do your benefits communications in-house, we’d like to share a recent article by Willis Towers Watson that summarizes common errors…
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MCG’s Commitment to You

February 7, 2017

2017 brings much anticipated change for our nation and the laws that govern employee benefits. As always, the MCG team is committed to following legislative and regulatory developments as they occur, then developing a game plan and any modifications necessary to achieve your benefits goals. In 2017, we will continue to help you achieve your mission through our dedication to quality, integrity, and leadership in the areas of benefits cost control, compliance, and communications.  MCG is here for you.