Employers with 50 to 99 full-time workers have until 2016 to offer such plans. Employers who don’t start collecting this information today are heading for a “real nightmare next year,” he adds.Īs of January 2015, employers with more than 100 full-time workers are required under the health law to offer affordable coverage plans to their employees, or face penalties. Under the law, employers aren’t required to offer coverage to part-timers.Ī senior vice president of Frenkel Benefits in New York, about completing the new IRS paperwork, Form 1095C. That can be especially hard for retailers, restaurants, day-care services or other businesses where workers’ hours can vary from part-time to full-time, or so-called variable hour employees, they add. Rather than simply ask employers to record the price tag for a given health plan, the forms require employers to calculate the lowest-cost plan available to each full-time worker on a month-by-month basis-a figure that can vary as wages or working hours change, tax lawyers and workplace benefits consultants say. ” - Victoria Braden, president of Braden Benefit Strategies “Anytime an employer sees a new IRS form number, it send chills up their spine because they don’t know what is required, it is one more thing to keep up with and one more potential place to make a mistake.
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