By The ACA Team
Well, our 2019 ACA filing year certainly ended on a different note than years past, but so have so many other things! This year, the due date for providing Form 1095-C to employees was extended from January 31, 2020, to March 2, 2020. Forms were then due to be filed by March 31, 2020.
As we did last year, we wanted to share a few reflections on how this year went and how we can make next year even better. Thank you for sticking with us and providing data and feedback during these unprecedented times.
One:
Terminated employees. Make sure terminated employees really are terminated. This means making sure you have terminated them in all systems. Also, make sure you have provided Paragon with those termination dates. Otherwise, you’re liable for coverage if they’re not properly marked and your billing counts would suffer as we bill for all processed employees. If you have multiple EINs and transfer employees between them (essentially terminating them from one employer to move to another), let us know when those changeovers happen.
Two:
Make sure all data matches. This seems simple, but you would be surprised at how easily it is overlooked. If someone changes their name during the year, make sure your systems match the IRS’s. This is crucial as you do not want your filing is to be rejected for a name mismatch. Similarly, make sure someone’s work status is correct. It is easy to accidentally switch someone from full-time to part-time and vice versa, but it is especially important for your liability that all information is correct. Lastly, do not change an employee’s bargaining unit (aka health insurance enrollment group) mid-year without letting us know.
Three:
Rate changes. Let us know if rates change at any time during the year, as this affects line 15 on Form 1095.
Four:
Returning employees. If an employee returns to your employment after 13 weeks (or 26 weeks if you are an educational institution), let us know their rehire date. This will make the forms more accurate.
Five:
Ask questions. If you are new to ACA or if you are wondering why we ask for certain information or why we provide certain reports, please reach out to us anytime. We are here to answer your questions! Remember that we do not have access to your internal systems, so we rely on the data you provide to us. If we get out in front of issues early on, we will eliminate frustration and extra work for you during the busy filing season. If your team has a new member who is unfamiliar with ACA or if someone would simply like a refresher, visit our website to view for a presentation and to check out other services we offer.
Thank you again for your diligence and commitment to compliance. We look forward to another great year!