The International Health, Racquet & Sportsclub Association is the fitness industry's only global trade association representing over 10,000 for profit health and fitness facilities and over 600 supplier companies in 75 countries.

 

 



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Friday
Feb032017

The Affordable Care Act is Still Alive and Your Club Should Abide

Donald Trump has been sworn-in as the 45th President of the United States and Congress has begun to dismantle the Affordable Care Act (ACA), but that doesn’t mean you can ignore the filing deadlines for the ACA. To help clarify what your legal requirements are under the ACA during this time of transition, we have taken a look at the ACA requirements and provided you with a primer on what you still need to do when.

There are a number of rapidly approaching ACA imposed deadlines employers must be aware of. The first deadline is for employers with 50 or more full-time employees (including full-time equivalents). These employers must provide employees with 2016 Form 1095-C (Employer-Provided Health Insurance Offer and Coverage) or 2016 Form 1095-B (Health Coverage). The good news is that the IRS has extended the deadline for doing so, from January 31st to March 2nd.    

Meanwhile, employers must file the following with the IRS, 2016 Form 1094-B (Transmittal of Health Coverage Information Returns) and Form 1094-C (Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns). Employers should include copies of the forms they provided to individual employees (Form 1095-C and Form 1095-B) along with these filings. While the deadline for providing forms to employees was extended, the deadline for filing Form 1094-B and Form 1094-C with the IRS has not been extended. These forms are due February 28th, if filing by paper or March 31st, if filing electronically.

While the repeal of the ACA seems fairly certain, what will replace it remains unclear. During this uncertain transition, the best way to protect your business is to comply with the existing law, rather than anticipating the coming change. If you have questions or comments, please send them to gr@ihrsa.org.