On Dec. 17, 2024, the House Ways and Means Committee and the Senate Finance Committee presented two bills—the Paperwork Burden Reduction Act (PBRA) and the Employer Reporting Improvement Act (ERIA)—to President Biden, which he signed into law on Dec. 23, 2024. Both laws modify provisions under the Patient Protection and Affordable Care Act (the “ACA”) related to the 1095-B and 1095-C tax forms.
Read the full article
Congress Acts: Employers Have Less Affordable Care Act Reporting
Seyfarth via SHRM Online | Jan 2025
Read the text of the Employer Reporting Improvement Act
Read the text of the Paperwork Burden Reduction Act
Law Articles
For Forms 1095-B and 1095-C due in 2025 or later, the ERIA permits you to distribute forms electronically after obtaining the individual’s consent. Note, however, that individuals may revoke their consent, in writing, at any time.
The ERIA codified existing federal regulations that permit electronic delivery of these forms upon affirmative consent. Under those rules, consent may be made electronically “in any manner that reasonably demonstrates that the recipient can access the statement in the electronic format in which it will be furnished.” As for withdrawals of consent, the regulations state that the furnisher “may provide that a withdrawal of consent takes effect either on the date the furnisher receives it or on another date no more than 60 days later,” and that the furnisher also “may provide that a recipient's request for a paper statement will be treated as a withdrawal of the recipient's consent.”
5 New ACA Reporting and Penalty Rules Employers Will Be Happy About
Fisher Phillips | Jan 2025
Effective for the 2024 reporting year, employers and plan sponsors issuing Form 1095-C for self-insured plan coverage of spouses and dependents can use the individual’s full name and date of birth if their social security number (SSN) or other taxpayer identification number (TIN) cannot be obtained. This change eases the burden on employers who have experienced problems obtaining the necessary TIN from nonresident aliens with no SSN or TIN. The new rule avoids the need for employers to establish reasonable cause before they are able to use a date of birth.
New Changes to ACA Reporting Requirements Offer Welcome Relief to Employers and Others
Nelson Mullins | Jan 2025
Statute of Limitations. The law establishes a six-year statute of limitations on the IRS for returns due after December 31, 2024, for assessing employer shared responsibility payments, a change that is particularly welcome. The limit begins to run on the later of the due date for the underlying form or the date the return is actually filed. Under prior law, there was no statute of limitations.
New Rules Simplify ACA Employer Shared Responsibility Reporting Obligations
McDermott | Jan 2025
The New Law codifies these regulations, makes some changes, and extends it to ALEs with respect to full-time employees. Under the New Law, the reporting entity is not required to furnish the Forms to individuals if it provides a “clear, conspicuous, and accessible” notice that the individual can request a copy of the Form. If the individual does request a copy, the reporting entity must provide the Form by the later of (1) January 31 or (2) 30 days after the request. This applies to Forms for calendar years after 2023 (i.e., 2024 Forms due in 2025).
New Year, New ACA Penalty and Reporting Relief!
Groom | Jan 2025
Related SHRM Express Request
ACA Forms Due to Employees (Mar 3) and IRS (Feb 28 or Mar 31)
2025 ACA Affordability Percentage Increased
SHRM Ask An Advisor
Get expert help on a wide range of HR topics. Access experienced, certified HR Knowledge Advisors by phone, chat & email
Connect with An Advisor now: https://www.shrm.org/hrhelp
SHRM Members' Survey
Tell us what you think about the Express Request self-service feature in a few quick questions.
An organization run by AI is not a futuristic concept. Such technology is already a part of many workplaces and will continue to shape the labor market and HR. Here's how employers and employees can successfully manage generative AI and other AI-powered systems.
Related Content
HR must always include human intelligence and oversight of AI in decision-making in hiring and firing, a legal expert said at SHRM24. She added that HR can ensure compliance by meeting the strictest AI standards, which will be in Colorado’s upcoming AI law.
The proliferation of artificial intelligence in the workplace, and the ensuing expected increase in productivity and efficiency, could help usher in the four-day workweek, some experts predict.
Learn how Marsh McLennan successfully boosts staff well-being with digital tools, improving productivity and work satisfaction for more than 20,000 employees.