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SAG-AFTRA Health Plan: ACA Reporting Requirements For Contributing Employers.pdf

1094-and-1095-notice-for-employers-2020.pdf

Preview of SAG-AFTRA Health Plan: ACA Reporting Requirements for Contributing Employers

🔗 Source: sagaftraplans.org

📊 Size: 130 KB

👤 Author: Carla Guevara

⬇️ Downloads: 32

Summary

The SAG-AFTRA Health Plan informs contributing employers about their Affordable Care Act (ACA) reporting obligations for 2020. Large employers with at least 50 full-time equivalents (FTEs) must report health coverage to the IRS (Forms 1094-C and distribute individual statements to employees, Form 1095-C). The Plan has separate reporting requirements on Forms 1094-B and 1095-B.

Employers using multiemployer plans like the SAG-AFTRA Health Plan can use codes 1H and 2E on Form 1095-C if they meet specific conditions: a collective bargaining agreement (CBA) or participation agreement requires contributions, and the plan offers affordable, minimum value coverage for eligible employees up to age 26.

The Plan encourages employers to consult with their tax or benefits consultants regarding ACA reporting. For detailed instructions and materials, visit the IRS website at www.irs.gov. This notice does not offer legal advice, and the Plan is not responsible for penalties related to reporting or furnishing statements. Questions about the Health Plan should be directed to [email protected], and benefits details are available at www.sagaftraplans.org/employers/resources/aca-information.

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Description

The Affordable Care Act requires large employers to report health coverage for full-time employees (Forms 1094-C and 1095-C), with separate reporting obligations for plans like SAG-AFTRA Health Plan (Forms 1094-B and 1095-B). These forms simplify reporting for multiemployer plan contributors, eliminating the need to track employee eligibility.

Technical Information

File Format: PDF
File Size: 130 KB
Pages: 1
Language: EN
Author: Carla Guevara
Total Downloads: 32
Last Updated: 2 days ago

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