Compliance Issues That Should Be on Your Radar Screen for 2018
It’ll come as no surprise that a top compliance issue for employer-sponsored health plans right now is ACA shared-responsibility requirements and related IRS reporting. Although the recent tax reform legislation zeroed out the individual mandate penalty beginning in 2019, the employer mandate and its assessments remain on the books. The means large employers must continue to gather data on offers of coverage and enrollment for 2018 reporting due in 2019.
With respect to 2017 reporting, the IRS delayed the deadline for furnishing 2017 Forms 1095-C and 1095-B to individuals to March 2, but IRS filing deadlines are unchanged – February 28 if filing by paper or April 2 if filing electronically. An automatic 30-day extension of the IRS filing deadline is available by submitting Form 8809 before the relevant due date. The IRS has also extended the good-faith compliance standard to 2017 reporting but has said it doesn’t expect to do so for 2018 reporting due in 2019.