KEY DATES YOU NEED TO KNOW
Key Dates You Need to Know
Several healthcare reform mandates are taking effect in the upcoming months. Here’s a quick snapshot of key dates employers need to know to stay in compliance and avoid penalties.
Provision |
Employer Responsibility |
Action Needed By |
|---|---|---|
Reinsurance Assessment Fee |
Register on Pay.gov, complete the contribution form and schedule a payment. |
Nov. 15, 2014, 2015 and 2016 |
For more information: Reinsurance Assessment Fee |
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Employer Mandate |
The Employer Mandate does not apply to employers with less than 50 full-time employees or full-time equivalents. Employers with 50+ full-time employers or equivalents must offer coverage to at least 70 percent of full-time employees and adult dependent children to age 26. |
2015 Plan Year |
For more information: Employer Mandate At-a-Glance |
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Cost-sharing |
For employers that offer a health plan, out-of-pocket limits must apply. The in-network out-of-pocket annual maximum for essential health benefits may not exceed $6,600 for employee-only coverage and $13,200 for other than employee-only coverage. Plan designs administered by CoreSource are compliant with cost-sharing regulations. |
Plan years on or after Jan. 1, 2015 |
For more information: Cost Sharing |
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PCORI Fee |
File federal excise tax return (Form 720) to report average covered lives and pay the fee directly to the IRS. |
July 31, 2015 (for plan years ending between Jan. 1, 2014, and Dec. 31, 2014) |
For more information: PCORI Fee |
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