ACA Reporting – Changes for 2020 and the Impact of COVID-19

ACA Reporting – Changes for 2020 and the Impact of COVID-19

Session Overview

Join us for a walkthrough of the changes to ACA reporting for Tax Year 2020. We will cover the changes made to the Form 1095-C to accommodate reporting of Individual Coverage HRAs and any additional changes the IRS makes before the session.

We will also update you on state reporting requirements. In 2019, reporting was completed for New Jersey and Washington, D.C. 2020 brings reporting requirements for California, Rhode Island and Vermont. There are different deadlines and requirements for the states than what the IRS requires.

What do you do about your employees who were furloughed, laid off, or had significant changes in the hours they worked in 2020? While the IRS has not issued formal guidance, there are some similarities to each of these types of “leave” with those defined in the regulations. This should give employers an approach to take pending official guidance from the IRS.

Top Take Aways

• Understand changes required for 2020 reporting on Forms 1095-C and 1094-C
• Be able to explain the differences between state reporting requirements and IRS requirements
• Determine the best approach to take for different COVID-19 impacted leave scenarios with regards to ACA reporting pending further guidance from the IRS

CEBS – qualifies for 1 CPE
HRCI – approved 1 HR (General) credit
SHRM – approved 1 PDC

11:45 Pacific
12:45 Mountain
1:45 Central
2:45 Eastern

Nov 18, 2020 11:45 AM in Pacific Time (US and Canada)