IRS Extends ACA Reporting Deadlines and Penalty Relief
On October 2, 2020, the IRS released IRS Notice 2020-76, extending the deadlines for distributing ACA reporting forms to individuals. Highlights include:
- Date by which employers must distribute Forms 1095-B or 1095-C to individuals is extended to March 2, 2021 (from January 31, 2021).
- Penalty relief is provided for incomplete or incorrect Forms 1094-B/C and 1095-B/C for employers that make good-faith efforts to comply with information-reporting requirements.
- Penalty relief is provided for employers, which will allow them to forego distributing Form 1095-B to individuals.
Full details are available on NFP.com and in IRS Notice 2020-76. Employers should keep this guidance in mind as they are preparing their ACA filings and distributions for 2020. NFP’s Benefits Compliance Team will continue to monitor developments that might affect employer reporting obligations in future years.
If you have any questions, contact the Benefits Compliance team.
New California Laws Address COVID-19 Workers' Compensation Claims and Employer Reporting When Employee Tests Positive for COVID-19
On September 17, 2020, two California laws (SB 1159 and AB 685) were signed into law. SB 1159, which took effect upon signing, creates a disputable presumption for workers’ compensation claims related to COVID-19 on or after July 6, 2020 through January 1, 2023. AB 685, effective January 1, 2021, includes an employer reporting requirement for all positive COVID-19 employee test results. Employers and claims administrators must investigate a claim quickly to take advantage of the disputable presumption, and ensure measures are taken to reduce potential transmission of COVID-19 within the work environment.
Read the full analysis on NFP.com.
If you have any questions, contact Suzanne Spradley.
NFP Analysis of Joe Biden’s Healthcare Proposals
With just four weeks until Election Day, and one formal presidential debate under our belts, Suzanne Spradley and Chase Cannon take a fresh look at Joe Biden’s healthcare proposals in the latest episode of our 2020 Election Podcast mini-series. Episode highlights include insight on:
- The advantages and challenges of Biden’s initiative to add a public option, and how that might interact with the current private and marketplace plans.
- Several past state initiatives relating to public options, and the challenges those states faced with affordability and solvency.
- Biden’s plan to expand Medicaid and improve the ACA.
- A comparison of some of Biden’s initiatives to the employer-sponsored insurance market, which shows the employer model is working well and should be preserved.
Listen to their discussion on NFP’s Insights from the Experts podcast.
Subscribe to NFP's Insights from the Experts podcast to receive notifications for future episodes.
 
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