If you enrolled your employees in health care via the SHOP Marketplace in 2015, you’ll qualify for what could be a sizeable tax write-off. Tax credit could be worth up to 50% of your contribution toward your employees’ premium costs.
In general, the fewer employees your company has, the greater your tax credit will be, especially if the average salary of your workforce is less than $25,000.
Here’s good news for small business owners who haven’t signed their employees up for health care yet: in 2015, businesses with 50 employees or fewer can sign up for coverage through the SHOP Marketplace.
The draft instructions clarify that forms 1094-B and 1095-B are to be used by organizations that are not reporting to the IRS as large employers, while forms 1094-C and 1095-C are to be used by organizations that are subject to the employer mandate. The 1094-B form is a transmittal form. The 1095-A form is for issuers reporting on individual marketplace plans, while the 1095-B form applies to fully insured plans and issuers that provide minimal essential coverage to report on the individual and group plans in the private market and SHOP marketplace. I will continue to update you once the instructions are finalized
Subject to the employer mandate effective date: 01/01/15: over 100 employees:
http://newsmanager.commpartners.com/nahuw/downloads/ER_Reporting_DRAFT_filing_1094C_and_1095C.pdf not reporting to the IRS as a large employers: less than 100 employees:
Blessings for a wonderful day!
Today, Covered California announced 10 health insurance plans have been tentatively selected to be in the Exchange for calendar year 2015.
Here is a link to the press release and leadership remarks regarding this announcement. Details on the plans available in specific pricing regions can be found here. The tentative selection of health plans is subject to rate review by state regulators and is expected to be finalized in late September.
The 10 Covered California plans for 2015 are:
Alameda Alliance for Health and Contra Costa Health Plan will not participate in 2015.
November 15, 2014: Open enrollment began for individual health insurance (i.e. Qualified Health Plans).
December 15, 2014: Deadline to apply if you would like coverage to start by January 1, 2015.
January 1, 2015: Earliest coverage date for plans purchased during the 2015 open enrollment period.
In continuing coverage, the Wall Street Journal (8/14, Radnofsky, Subscription Publication) reports that ACA supporters are scrambling to make sure thousands of people provide documents to demonstrate that they are in the country legally and entitled to coverage under the law. The Journal notes that the Obama Administration announced Tuesday that it would end coverage for some 300,000 people who enrolled on HealthCare.gov if they do not provide information in the next few weeks showing they are US citizens or legal residents.
We hope you and your families enjoyed your summer and are ready for the upcoming fall season! We are all well aware of the never ending changes and correspondence you are receiving from Covered California, as we are now preparing for the upcoming open enrollment, we need to keep you informed of any crucial developments/deadlines/changes that could affect your health coverage.
FAILURE TO PROVIDE ANY OUTSTANDING DOCUMENTS OR COMPLETE THE “RENEWAL OF INSURANCE CONSENT FORM” WILL RESULT IN LOSS OF COVERAGE. ANY MEDI-CAL INQUIRIES SHOULD BE MADE THROUGH MEDI-CAL DIRECTLY AT 1-800-578-6762. ANY MEDI-CAL RECIPIENTS THAT NEED TO PROVIDE DOCUMENTS CAN DO SO THROUGH OUR OFFICE UNLESS ADVISED OTHERWISE BY MEDI-CAL.