New Workshops on Health Care Coverage Reporting Requirements

Health Care Coverage Reporting Requirements –

“Good Enough is No Longer Good Enough”

Tuesday, November 29, 2016 – 8:30 a.m. to 12:00 p.m.  (Overland Park Office)

Tuesday, December 6, 2016 – 8:30 a.m. to 12:00 p.m.  (Wichita Downtown Office)

Wednesday, December 7, 2016 – 8:30 a.m. to 12:00 p.m.  (Wichita Downtown Office)

The second year of the IRS health care coverage reporting requirements is just around the corner.  The reporting forms, which must be completed in early 2017, relate to your company’s health care coverage in calendar year 2016.  Unlike last year, the “good faith” compliance standard is gone.  This means that, not only must employers complete the forms on time, but if the forms are filled out incorrectly, the IRS may impose accuracy-related penalties.  In other words, “good enough” is no longer “good enough.” 

• The IRS has made a number of changes to the forms – i.e., 1094-B, 1095-B, 1094-C, and 1095-C – and updated the instructions.  There is also new guidance regarding how to report a variety of different circumstances (e.g., COBRA, retiree coverage, HRAs, etc.).
• Although the 2016 forms do not have to be filed with the IRS and furnished to employees until early 2017, it is essential that employers understand as early as possible how the 2016 coverage is going to have to be reported so that tracking can be done efficiently and effectively.  As most of you know from experience, procrastination is most definitely not your friend when it comes to completing and filing these forms.
• All employers that are large enough to be an “applicable large employer” are subject to the reporting requirements, regardless of whether they offer health care coverage to their employees. Employers that sponsor self-funded medical plans are also subject to these rules, even if they are too small to be an “applicable large employer.”
• In order to help make sense of this tangled web, we will put it all into relatively plain English.  Our workshop is intended to be a hands-on crash course in how to complete the required forms and comply with the IRS rules.

Who Should Attend? 

This workshop is primarily designed for applicable large employers – that is, for employers with 50 or more full-time employees (or full-time equivalents) – including those that may qualify for the one-year transitional relief from the “pay or play” mandate. The workshop will also be helpful to smaller employers that have self-funded medical plans.

We believe that this workshop will be of particular interest to:

• Employee benefit managers
• HR managers and executives
• CFOs
• Insurance brokers, consultants, CPAs, attorneys and other professionals who work with and provide advice to employers
• Payroll personnel

When and Where?

The workshop will be offered in both Overland Park and Wichita on three different days:

• Tuesday, November 29, 2016 (Overland Park Office)
• Tuesday, December 6, 2016 (Wichita Downtown Office)
• Wednesday, December 7, 2016 (Wichita Downtown Office)

The workshops will begin at 8:30 a.m. each day and will conclude at 12:00 p.m.  The Overland Park workshop will be held in the second floor conference room of our Overland Park office.  The Wichita workshops will be held in the 22nd floor conference room of our downtown Wichita office at the Epic Center.

What Is the Cost to Attend?

$85 per attendee, including light refreshments, workshop materials, and continuing education credit (if desired).

What Will the Workshop Cover?

The workshop will describe in detail how applicable large employers (and any employer with a self-funded medical plan) must complete the IRS forms that must be filed relating to their company’s health care coverage in 2016.  The workshop will address all of the changes that the IRS made to the 2016 forms as well as the revised instructions for reporting different coverage scenarios.  As was the case last year, these forms require a vast array of information, including the nature of the coverage provided to employees, a list of each employee who is deemed to be a “full-time employee” during each month of the year, a list of all employees (and any dependents) who were offered coverage during each month of the year, and the cost of each employee’s individual coverage.  Different codes apply to all of this information.  This is generally not information that your tax accountant will be able to complete.  It is critical, therefore, that your HR director and payroll personnel fully understand what is required in the new forms, especially since the IRS may now impose penalties if the forms are filled out incorrectly.

Is the Workshop Approved for Continuing Education?

This workshop has been submitted to the HR Certification Institute for credit hours toward PHR, GPHR, and SPHR recertification.  CE credit is also being sought for Kansas insurance agents and CPAs.

Seating is limited.  Our past programs on Health Care Reform have consistently reached full capacity very quickly, so please sign up early.