ACA: Affordable Care Act
The IRS has extended the deadline by which applicable large employers (ALEs) and entities providing minimum essential coverage (MEC) must distribute Forms 1095-B and 1095-C to individuals for the 2017 reporting year. These forms were previously due to individuals no later than January 31, 2017. The extended deadline for providing these forms to individuals is now March 2, 2018.
President Trump signed into a law short-term spending bill to reopen and fund the federal government through February 8, 2018. Attached to the bill are delays or suspensions of three taxes under the Affordable Care Act (ACA) and a six-year extension of the Children’s Health Insurance Program (CHIP).
The Affordable Care Act imposes an annual fee called the Comparative Effectiveness Research Fee on insurers and plan sponsors of self-insured coverage to help fund the Patient-Centered Outcomes Research Institute.