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The Internal Revenue Service (IRS) has released Notice 2020-76 (Notice) which extends the due date for furnishing to individuals the 2020 Form 1095-B (generally provided by insurers), and the 2020 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, from January 31, 2021, to March 2, 2021. The Notice also extends good faith transition relief from penalties relating to 2020 Affordable Care Act (ACA) information reporting requirements under Internal Revenue Code (IRC) sections 6055 and 6056. Finally, the Notice provides new relief relating to the failure to furnish information required by IRC section 6055 under certain circumstances …

Complying with the many rules that govern health and welfare benefits can be a challenge for benefits administrators. EPIC has prepared this compliance checklist to help administrators manage their 2021 benefits compliance efforts. Please note that this checklist may not cover every requirement applicable to a specific employee benefit plan. This list focuses on key federal requirements affecting most health and welfare plans and is subject to legislative or regulatory changes. Additional requirements or exceptions may apply under state insurance laws which vary from state to state. Administrators should also remember that the Affordable Care Act (ACA) remains in effect …

Quick Facts The San Francisco Health Care Security Ordinance (HCSO) requires covered employers to spend a minimum amount of money, called an Expenditure, each calendar quarter on their employees’ healthcare. The minimum Expenditure will increase to $3.18 per hour for “large employers” starting January 1, 2021. The minimum Expenditure will increase to $2.12 per hour for “medium employers” starting January 1, 2021. The minimum Expenditure does not apply to managers, supervisors, and confidential employees (as defined) that earn more than a designated amount, as determined annually. 2021 Employer Health Care Expenditure The San Francisco Health Care Security Ordinance …