Attention HR professionals! If your organization is subject to Affordable Care Act (ACA) reporting, it’s time to gear up for the upcoming deadlines. Staying compliant with IRS regulations is crucial and knowing the timelines can help you avoid last-minute stress.   [Read the Full Article Now to Get Prepared]   What to know for 2024 calendar year reporting  Electronic filing deadline: File returns electronically by March 31 . Filing on paper? The deadline was Feb. 28 . Remember, employers filing 10 or more returns must do so electronically.   Individual statements: Statements were required to be furnished upon request by Jan. 31 or within 30 days of receiving the request , whichever is later. Alternatively, employers needed to submit statements by March 3 if they chose not to follow the on-request distribution method.  [Get the Full Story]   Additionally, a notice with information on obtaining these statements should have been posted on your website ...

The Affordable Care Act’s (ACA) requirements continue to evolve, bringing critical updates for employers sponsoring group health plans. For 2025, new rules and thresholds are taking effect, impacting affordability percentages, cost-sharing limits and reporting requirements.  Access your checklist today and continue learning about this year’s key updates.  Key updates for 2025  Affordability percentage: Slight increase under the employer mandate, offering applicable large employers (ALEs) more flexibility with employee contribution rates.  Cost-sharing limits: Adjusted for essential health benefits.  Reporting deadlines:   March 3, 2025: Individual statements for 2024 must be provided.  March 31, 2025: Electronic IRS returns for 2024 are due.  Employers must review and update health plan documents, including the summary of benefits and coverage (SBC), to reflect these changes. Additionally, clear communication during open enrollment will be e...