Starting in 2024, the majority of employers required to report under the Affordable Care Act (ACA) must submit their returns electronically. Paper filing is reserved for exceptionally small employers, defined as those filing fewer than 10 information returns annually. Employers seeking exemption from the electronic filing mandate due to hardship can do so by submitting Form 8508 (opens a new window) to the IRS.
We have separated our reminders into two categories: standard federal deadlines and select state and local deadlines. Within each category, we follow our typical chronological approach. Deadlines may or may not be applicable to your group, depending on the employer and plan characteristics.
Here are potential action items for the second calendar quarter of 2024:
STANDARD FEDERAL DEADLINES
April 1 - E-file with the IRS Forms 1095-C and/or 1095-B, with Form 1094-C and/or 1094-B
Applicable large employers (ALEs) and non-ALEs with self-insured health plans must e-file with the IRS copies of Forms 1095-C (opens a new window) or 1095-B (opens a new window) (as applicable), along with one or more Forms 1094-C (opens a new window) or 1094-B (opens a new window) transmittal documents.
E-filing is accomplished through the IRS’ AIR (opens a new window) (Affordable Care Act Information Returns) platform. Employers may request an automatic 30-day extension by filing Form 8809 (opens a new window) by the filing due date.
The normal filing deadline for electronic reporting is March 31, however, since March 31, 2024 is a Sunday, electronic returns must be filed by the next business day.
April 14 - Distribute reminder to participants regarding availability of HIPAA privacy notice (Recommended action)
This obligation applies to sponsors of ERISA and non-ERISA health plans, where the plan is self-insured, or insured but the sponsor is “hands on” regardingthe plan’s protected health information.
This reminder is due every third year. Most plan sponsors with HIPAA privacy and security obligations moot the reminder duty by supplying a HIPAA privacy notice regularly (e.g., as part of initial and open enrollment packets).
This notice may be provided electronically in accordance with specific requirements. See our publication, Electronic Distribution of Welfare Benefit Plan Required Documents (opens a new window).
April 15 - Make final HSA contributions toward 2023 HSA limits and/or make HSA corrections related to 2023 calendar year.
Applies to employers who provide HSA enrollment. Employers and individuals have until the individual's tax filing deadline to make HSA contributions and corrections related to the tax filing year.
April 30, May 31 and June 30 - File Form 5500 for plan years ending Sept. 30, Oct. 31 and Nov. 30, 2023, respectively
ERISA plans must file a Form 5500 at least annually unless the plan is exempted from the filing requirement. Filing is accomplished electronically through the Department of Labor’s (DOL) EFAST (opens a new window) portal.
Form 5500 extensions are available by filing a Form 5558 (opens a new window) with the DOL on or before the filing’s initial due date. Filing Form 5558 allows the plan up to an additional 21/2 months to complete the filing.
June 1 - Submit prescription/medical plan cost reporting to CMS (RxDC)
Applies to all employers. The Consolidated Appropriations Act requires group medical plans to file a report with CMS reflecting a variety of cost and other medical data with respect to the group health plans’ prescription drug and other benefits. Does not apply to excepted benefits.
The filing is completed electronically through the CMS Enterprise Portal (opens a new window). If the employer plan sponsor is filing any part of the filing, the employer will need to establish a HIOS account. However, most third-party administrators and/or pharmacy benefit managers contracted to provide services to the group health plan will assist and/or submit filings on behalf of the group health plan.
STATE AND LOCAL DEADLINES
April 1 - Submit coverage statements to the Rhode Island Department of Revenue, Division of Taxation
Applies to employers who provided medical coverage to Rhode Island residents in 2023.
Employers that provided self-insured coverage to Rhode Island residents during 2023 must file with the Department of Revenue, Division of Taxation copies of the IRS Forms 1095-C (with respect to such residents) that the employer filed with the IRS for 2023. Although Rhode Island will accept the same sort of coverage information on an equivalent statement, employers will typically want to simply submit copies of the forms they filed with the IRS.
Employers that provided insured coverage to Rhode Island residents during the prior year are not required to file the required coverage information with the Department of Revenue, Division of Taxation, if the insurer files it.
April 1 - Submit Forms 1095-C and/or 1095-B, with Form 1094-C or 1094- B, to the California Franchise Tax Board
Applies to employers who provided medical coverage to California residents for the previous calendar year.
Employers that provided self-insured coverage to California residents during the previous calendar year must file with the Franchise Tax Board copies of the IRS Forms 1095-C (with respect to such residents) that the employer filed with the IRS for 2023, along with the employer’s Form 1094-C filed with the IRS.
Employers that provided insured coverage to California residents during the prior year are not required to file the required coverage information with the Franchise Tax Board, if the insurer files it. Filing must be made electronically if the employer is submitting at least 250 of the same forms.
The deadline for filing this information is typically March 31 (unless falls on a weekend or holiday), though penalties will not be assessed for filing by May 31.
April 2 - Submit coverage statements to the New Jersey Division of Revenue and Enterprise Services
Applies to employers who provided medical coverage to New Jersey residents in 2023. Employers that provided self-insured coverage to New Jersey residents during 2023 must file with the Division of Revenue and Enterprise Services copies of the IRS Forms 1095-C (with respect to such residents) that the employer filed with the IRS for 2023. The state does not require, but will accept, the employer’s Form 1094-C submitted to the IRS if it is included in the same file.
Although New Jersey will accept the same sort of coverage information on Forms NJ-1095, employers will typically want to simply submit copies of the forms they filed with the IRS. The self-insured employer’s Forms 1095-C must have Part III completed (showing months of coverage, if any, under the plan), to comply with New Jersey requirements.
Employers that provided insured coverage to New Jersey residents during the prior year are not required to file the required coverage information with the Division of Revenue and Enterprise Services if the insurer files it.
April 30 - Submit Forms 1095-C and/or 1095-B, with Form 1094-C or 1094- B, to Washington D.C. Office of Tax and Revenue
Applies to employers who provided medical coverage to District of Columbia residents in 2023.
Employers that provided medical coverage to at least 50 full-time employees, including at least one District resident, during 2023 must file with the Office of Tax and Revenue copies of the Forms 1094-C and 1095-C, or Forms 1094-B and 1095-B, that the employer filed with the IRS with respect to any employee for whom the employer withholds D.C. taxes, and to any employee who has a mailing address in D.C., whether or not the employer withholds and reports D.C. taxes.
April 30 - Make San Francisco HCSO contributions for prior calendar quarter
Applies to fully insured employers subject to the San Francisco Healthcare Security Ordinance. Quarterly true-up contributions, if due for the quarter ending March 31, are due by April 30.
Self-funded employers have the option of utilizing an annual true-up method in lieu of quarterly filings. Annual true-up payments for self-insured plans are due by Feb. 28 each year.
April 30 - File annual San Francisco HCSO reporting form for the prior calendar year
Applies to all employers subject to the San Francisco Healthcare Security Ordinance.
Note: Employees who telework within the limits of San Francisco will be covered employees for purposes of this rule.
Note: Generally, when a filing deadline or notice obligation falls on a Saturday, Sunday or federal holiday, the filing or notice may be filed or distributed on the next day that is not a Saturday, Sunday or federal holiday. This general rule may or may not hold true for state-imposed deadlines.
Not legal advice: Nothing in this alert should be construed as legal advice. Lockton may not be considered your legal counsel, and communications with Lockton's Compliance Consulting group are not privileged under the attorney-client privilege.
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