On December 22, 2016, the IRS revised its FAQs on Form 1094-C and Form 1095-C reporting. The FAQs generally track the final regulations, but provide some additional detail on reporting minimum essential coverage (MEC) and Health Reimbursement Accounts (“HRAs”) under the ACA. An HRA is a form of MEC and enrollment in an HRA must be reported ...
Recently, President Obama signed the 21st Century Cures Act into law. Among other things, the law amends the ACA and the Internal Revenue Code so that small businesses will be able to again offer stand-alone health reimbursement arrangements (HRAs). Prior to the ACA, many small employers (not subject to the employer mandates) sponsored ...
As part of the Health Information Technology for Economic and Clinical Health Act (HITECH), the OCR is charged with conducting periodic audits of covered entities and business associates for compliance with the HIPAA Privacy, Security, and Breach Notification Rules. During 2011 and 2012, as part of Phase 1 of its audit program, the OCR assessed ...