Video instructions and help with filling out and completing Which Form 1094 B Enrolled

Instructions and Help about Which Form 1094 B Enrolled

I only have an hour so I have 80 slide so I'm going to go something through some of this rather quickly but there's a lot of aspects of health care reform that apply to small employers and that's the purpose behind this presentation to kind of give you a clue if you're a small employer which is going to be facing here are all the different things that apply to small employers some i'm just going to breeze through maybe point out so you can read it later other situations I've undergone hit much harder because I see this day to day in my practice as an attorney I get anywhere from 100 to 200 questions from various types of employers both large and small health care reform is extremely complicated convoluted and because of that it hits all these different areas of and you have to beware the fact what you have where you have to comply now what's also very interesting there is various definitions of a small employer which makes it rather complicated for the employer mandate it's going to be anyone who's under 100 on only if certain transitional rules apply so if you're under 100 between 50 to 99 there's a transitional rule that will apply so the employer mandate doesn't kick in until 2016 all right then it jumps bat down to 50 in two thousand six and eight rolls it's going to be 50 and 2015 to a hundred for 2016 and after and then for the small employer tax credit of it's only 25 employees so dealing in certain aspects of health care reform the definition changes and there's all kinds of aspects of this and I'll give you a couple examples in regard to a full-time employee if you're determining if you are a large employer a full-time employee is defined as a hundred and twenty hours but for coverage is defined as a hundred and thirty hours it confuses people ah there's another definition called seasonal worker seasonal worker is someone that works view for 120 days a year well seasonal employee is somebody works for you six months so that's what confuses people because there's various definitions as this for various purposes so it really confuses people what applies to small employers and I've covered this before but I just want to briefly indicate the fact that these fees the taxes apply to all employers first the peak our fee which has been around for a while it's the it's to fund a not-for-profit corporation called the patient-centered outcomes Research Institute we call this the peak or fee this fee only applies what we call exempted benefits which do not apply to exempted benefits which are basically dental vision and preventive care and also supplemental benefits I first came into play in 2004 plan years after 2012 is going to go away in 2019 now if you're insured don't worry the insurance companies will pay the peak or fee and pass the cost on to you if your self insured basically what you have to do you have to file you basically have to pay the fee and you pay the fee by a form 720 now the problem with the form 720 it's very confusing because they stuck it in a form that doesn't that doesn't really apply it applies for probably 15 or 20 different situations but they stuck it in there to pay the fee it's only do once a year the file they've returned must be filed each year by July thirty-first of the calendar year and at first the fee was one dollar then it's going up to two dollars and it's going to go up in future years and it's based on the average number of covered lives so again if you were insured the insurance company will pay the fee if your self insured you have to pay the fee and make sure you file the return another fee is the reinsurance fees under ACA each state is required to establish or transcripts a transitional reinsurance program basically it's to create a slush fund for insurance companies to engage and be in the exchanges the program is funded through reinsurance assessment on all insurance carriers and self-insured plans the collected fee is to support re insurance payments to carriers that cover high cost and Jules in non-grandfathered plans so basically it's a way of enticing insurance companies to participate in the marketplace for self-insured plans they are subject to it for self-insured employers can use either TPA or contracted to transfer the fees exempt certain self-insured a self-administered plans for making this a self-insured insurance plan will make reinsurance contributions for major medical there's certain exceptions for this purpose hsas health fsa's expatriate health plans and prescription drug plans are excluded now four-inch for fully insured plans the insurance companies will pay again the fee and pass the cost on you the fee for 2014 with 63 dollars this year is at $44 HHS will collect all contributions and allocate reinsurance payments on a national basis the same contribution rate applies of self-insured plans though these plans are excluded from receiving reinsurance payments contributions are paid in two installments basically what you had to do was you had again register with the HHS and then they will tell you exactly when to pay the fees the other fee is the health insurance agency fee this is purely an insurance company fee this is one reason why you may want to go self-insured bigger self-insured plans so not sub judice feet health reform imposes an annual fee on jurors beginning in 2014 i it's going to collect in 2014 8 billion it will increase to fourteen point three billion by 2018 the fee only applies to fully insured plans again self-insured plans are exempt the h insurance company pay the fee by September 30 to 50 each year well the fee