The Internal Revenue Service (IRS) Released Final 2020 Forms And Instructions For Reporting Under Internal Revenue Code (Code) Sections 6055 And 6056.

  • 2020 Form 1094-B and Form 1095-B (and related instructions) will be used by providers of minimum essential coverage (MEC), including self-insured plan sponsors that are not ALEs, to report under Section 6055.
  • 2020 Form 1094-C and Form 1095-C (and related instructions) will be used by applicable large employers (ALEs) to report under Section 6056, as well as for combined Section 6055 and 6056 reporting by ALEs who sponsor self-insured plans.

The Internal Revenue Service (IRS) Released Draft 2020 Instructions Related To Forms For Reporting Under Internal Revenue Code (Code) Sections 6055 And 6056. Draft Forms For This Reporting Were Released In July 2020.

  • 2020 draft Forms 1094-Band 1095-B and related draft instructions will be used by providers of minimum essential coverage (MEC), including self-insured plan sponsors that are not ALEs, to report under Section 6055.
  • 2020 draft Forms 1094-Cand 1095-C and related draft instructions will be used by applicable large employers (ALEs) to report under Section 6056, as well as for combined Section 6055 and 6056 reporting by ALEs who sponsor self-insured plans.

Trends at a glance headerWhat Is Self-funding? An employer has a self-funded (or self-insured) group health plan if the employer assumes the financial risk associated with providing health care benefits to its employees.

Rather than paying fixed premiums to an insurance company—which, in turn, assumes the financial risk— pays for medical claims out of pocket as they are incurred. | | |

Legal Update HeaderUnder a new law enacted on Sept. 30, 2020, certain California employers must file an annual workforce pay data report with the state by March 31 every year.

The law applies to employers that have 100 or more employees and are required to file the federal Employer Information Report (EEO-1) with the U.S. Equal Employment Opportunity Commission (EEOC). The deadline for an employer’s initial report is March 31, 2021.

Safety Matters HeaderIt’s vital for employees to feel comfortable in their job role and capable of performing workplace tasks effectively. However, comfort shouldn’t come at the cost of complacency.

Being complacent on the job and ignoring safety hazards can carry significant consequences in the workplace—such as near-miss incidents, injuries and even fatalities. After all, just because your workplace is safe, doesn’t mean you don’t have to follow proper precautions. In fact, many safety incidents aren’t caused by unsafe conditions, but rather by careless acts or behaviors. That’s why it’s crucial for you to play your part in combating complacency, keeping both yourself and others safe at work. Review this guidance to understand what workplace safety complacency is and how to prevent it.

Trends at a glance headerA wellness program is an organized program intended to assist employees and family members in making voluntary behavior changes that reduce their health risks and enhance their individual productivity.

Wellness programs vary widely in design and may offer opportunities or incentives for improving health and wellness, such as increasing fitness, losing weight, managing chronic health conditions or quitting smoking.