January 2018
Stay Current Newsletter
Art1A Look at Technology and Benefits in the New Year

2018 promises continued advancements in technology to improve and shape the way companies are managing human capital. 

At Benefits Done Right we understand the value of time, and the importance of a competitive benefits package to attract and retain top talent.  

Missed our blog? Read it here.
Art2Save the Date: BDR Client Education Session

Mark your calendar! BDR is excited to announce a special education session for our clients , Wednesday, February 28, 2018 at 9:00 AM. This meeting will be held in Sacramento and will include a group health plan compliance review from a member of our legal team. A complete agenda and registration details will be available soon. 

art3Extended Deadline for Furnishing (But Not Filing) 2017 ACA Form 1095-B and Form 1095-C

Deadline for Furnishing Individual Statements Extended

On December 22, 2017, the IRS issued Notice 2018-6, which extends the due date for certain Affordable Care Act (ACA) information reporting requirements for insurers, self-insured plan sponsors and "applicable large employers." Specifically, the IRS is extending the deadline for furnishing 2017 Form 1095-B and 2017 Form 1095-C to individuals by 30 days-from January 31, 2018 to March 2, 2018.

Notice 2018-6 does not, however, extend the deadline for filing the 2017 forms with the IRS. The IRS filing deadline remains April 2, 2018 (or February 28, 2018 if not filing electronically).

Despite the extension, the IRS is encouraging reporting entities to furnish Form 1095-B and 1095-C statements as soon as they are able.

Impact on Individual Taxpayers

The IRS recognizes that taxpayers may not receive their Form 1095-B or Form 1095-C by the time they are ready file their 2017 income tax returns due to the deadline extension. Like last year, taxpayers do not need to wait to receive their Form 1095-B and/or 1095-C in order to file their tax returns.

Instead, taxpayers may rely on other information received from their employer or insurer in attesting on their tax returns as to whether they had "minimum essential coverage" as required by the so-called individual mandate, or whether they were eligible for a Marketplace subsidy. They do not need to send their Form 1095-B, Form 1095-C or any information they relied upon in completing their 2017 tax return to the IRS, but should keep that information with their tax records.

Art4Small Business Health Care Tax Credit Form 

The IRS has released Form 8941, Credit for Small Employer Health Insurance Premiums, and related instructions, for tax year 2017. Eligible small employers use this form to figure the credit for health insurance premiums under the Small Business Health Care Tax Credit.

The Small Business Health Care Tax Credit is designed to encourage small businesses and tax-exempt employers to offer health insurance coverage to their employees. Among other requirements, an employer may be eligible for the credit for tax year 2017 if:
  • It had fewer than 25 full-time equivalent employees for the tax year;
  • It paid at least 50% of the premium cost for single health care coverage for each employee;
  • The average annual wages of its employees for the year were less than $53,000; and
  • It paid premiums on behalf of employees enrolled in a qualified health plan offered through a Small Business Health Options Program (SHOP) Marketplace (or qualifies for an exception to this requirement).
Note: Employers in Hawaii cannot claim this credit for insurance premiums paid for health plan years beginning after 2016.

Article reprinted with permission from HR360.com

Our sister company HR Done Right and law firm Fisher Phillips have teamed up to host this must attend event on Thursday, January 25, 2018.
2017 was a busy legislative year for California. Hear the latest critical information impacting employers today. This brief but informative session will discuss what you need to know regarding marijuana in the workplace, harassment prevention and other relevant topics for 2018. Then stay and mingle with our speakers and attendees for networking and appetizers.
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