Medcom Benefit Solutions recently announced a significant and valuable platform for its ACA division with the introduction of ACA Connect. This program enhances and streamlines the ACA Reporting process for our clients and brokers by providing intuitive and centralized technology!

An Overview of ACA Connect's Capabilities Send and receive data files securely View employer, plan, premium, employee, and dependent data View 1094 Forms by Employer EIN Review 1095 Forms by specific categories Generate PDF and Excel reports Notate updates on specific fields Schedule a call with assigned Account Manager Receive secured notifications Gain access to timely and readily available...

The pandemic is changing the way we all work, including the IRS. Since the scathing report from the Inspector General earlier this year, the Internal Revenue Service haven't answered their calls, still we know they are working diligently behind closed doors to step up their penalty letters and create much-needed revenue. According to the report, the IRS collected a mere 4.4% of its original goal for assessing ACA penalties. The estimated penalty income was based on employers failing to offer affordable health coverage to employees; however, most employers were already providing coverage, so the IRS lost...

The Affordable Care Act, though the topic of much discussion and controversy, is not quite at the top of our daily newsfeed at present. The national media is overwhelmed with the developing world-wide pandemic, protests, political arguments, and a lot of other critical information. However, the ACA is still here, and it will undoubtedly be the talk of the nation when the Supreme Court reconvenes later this year to make a ruling regarding its constitutionality. With that in mind, there are several important factors to consider for filing, especially when it comes to the Coronavirus and its effect...

The IRS recently provided notice 2020-44 announcing the new PCORI fees for plan years from October 2019 through October 2020. The new fee is an increase of $0.09, from $2.45 to $2.54. While this amount is important to know, it is essential to understand what PCORI fees are and how they affect your ACA Employer Reporting.

PCORI Basics

PCORI stands for Patient-Centered Outcomes Research Institute. The Patient-Centered Outcomes Research Trust Fund fee is a tax on issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans. It assists in funding the institute. Imposed by §§ 4375 and 4376 of...