Employee Benefit Broker & Health Insurance Agency in NJ

Horizon Conversion Deadline For The Upcoming 1st Of The Month
2024-06-20, 2024-05-20, 2024-04-20, 2024-03-20

Horizon Enrollment Deadline For 15th Of The Month
2024-06-14, 2024-05-14, 2024-04-14, 2024-03-14

Shavuot: Office Closed
2024-06-12 - 2024-06-13

Prescription Drug Reporting (RxDC)
2024-06-01 - 2024-06-03
Group health plans and health insurance issuers
Requires employer-sponsored health plans and insurers to report information about Rx and healthcare spending to CMS annually.
Most employers will rely on third parties, such as Carriers, TPAs or PBMs to prepare and submit on behalf of the Plan/Employer but should get guarantees in writing.
No guidance on penalties have been released as of the creation of this document.

Enrollment Deadline For 1st Of The Month
2024-05-31, 2024-04-30, 2024-03-31, 2024-02-29

Memorial Day: Office Tentatively Closed
2024-05-27

Pesach Office Closed
2024-04-30, 2024-04-29, 2024-04-24 08:00 - 17:00, 2024-04-23 (America/New_York)

Individual Mandate Reporting for Employers with Employees in specific cities or states
2024-04-30
Employers with Employees in District of Columbia and San Francisco
DC: Employers must provide IRS Forms 1095-B/1095-Cs to DC’s OTR.
San Francisco: Complete the Annual Reporting Form for the San Francisco Health Care Security Ordinance
DC: No penalty listed
SF: Subject to a penalty of $500 per quarter

Quarterly Report Deadline
2024-04-30

Passover: Office Closed
2024-04-29 - 2024-04-30, 2024-04-23 - 2024-04-24

Individual Mandate Reporting for Employers with Employees in specific cities or states
2024-03-31 - 2024-04-01
Employers with Employees in CA, NJ, and RI
Employers must provide IRS Forms 1095-B/1095-Cs to the state’s Franchise Tax Board or Division of Taxation
CA: Subject to a $50 penalty per individual
NJ: Subject to a $50 penalty per individual, going up to a maximum of $50,000.
RI: No Penalty listed

Sections 6055/6056 reporting (electronic filing deadline)
2024-03-31
Code Sections 6055 and 6056 require ALEs that sponsor self-insured health plans to report information about the coverage to the IRS each year using IRS Forms 1094-C and 1095-C. The deadline for electronic filing is March 31, 2023.

Section 6056 individual statements
2024-03-02
Code Section 6056 requires ALEs with fully insured health plans to provide information about health plan coverage to their full-time employees each year using IRS Form 1095-C. In general, these statements were required to be provided to employees on or before Jan. 31. However, the IRS extended the annual deadline for furnishing employee statements for 30 days from Jan. 31. With the extension, this deadline is March 2, 2023.

Section 6055/6056 Individual Statements
2024-03-01
Employers that are ALEs with Fully Insured Health Plan and Self-Insured Health Plan
The code requires ALEs that sponsor health plans, to report information about the coverage to covered employees each year using Form 1095-C. This is an extension from the Jan 31st deadline.
Up to $280 per-form for failing to furnish an accurate Form 1095-C to an employee

M-1 Filing
2024-03-01
Multiple Employer Welfare Arrangement (MEWAs)(Regardless of size)
The Form M-1 is an annual report that must be filed by MEWAs no later than March 1st following any calendar year in which the MEWA operates. MEWAs do not include plans determined by the Secretary of Labor to be collectively bargained.
Up to $1,881 per day for late filing. No delinquent filer program available

Medicare Part D Disclosure to CMS
2024-03-01
Group health plans that provide Rx coverage to individuals who are eligible for Medicare Part D
Must disclose to CMS whether Prescription coverage is creditable or non-creditable within 60 days after the beginning of the plan year using CMS’s Online Disclosure Form.
In general, to be creditable the Plans Rx actuarial value must be equal or more than Medicare Part D’s actuarial value for coverage.
No enforcement penalties or sanctions for failing to timely file.

1095 Filing Deadline
2024-02-29
