(Newswire.net — January 7, 2016) Chino Hills, California — Brylaw Accounting recently announced the availability of a range of Obamacare-related services, which are intended to assist employers that fall under the category of ALE or applicable large employers. Specifically, the legal and accountancy firm helps these employers provide their employees with the 1095-C forms necessary for compliance with the guidelines established by Obamacare or the Affordable Care Act. By providing this service, Brylaw addresses a need that is beyond the scope of most payroll services and accounting software solutions.
Under the guidelines of the Affordable Care Act, ALE or applicable large employers are required to provide full-time employees and their dependents with health insurance. The guidelines also stipulate that employers must provide employees with a statement detailing all the insurance options available to them. This statement is to be sent to employees of ALEs every year. The IRS form to be used for this specific purpose is Form 1095-C. This year’s new batch of forms should be given to employees not later than January 31, 2016.
Employees qualified to receive Form 1095-C are those that have been employed in the ALE firm for at least one month out of the preceding year. ALE members are required to report the necessary information every month of the year for every fulltime employee in service. A company or organization may be classified as an ALE if it has at least 50 fulltime workers or its equivalent in its employ. The term ‘fulltime workers’ encompass those who work for 30 or more hours per week. “Fulltime equivalents” are two or more employees employed on a part-time basis, whose combined hours equal a full-time workload.
All employees who are eligible for insurance should be given a 1095-C form. Even employees who opt not to avail of their company’s health insurance plan will have to be given the said form. The 1095-C form includes information on the employee and the employer, the months of the year when the employee in question was eligible for insurance, and the cost of the lowest priced monthly premiums available to the employee. The form should also indicate if the ALE does not provide insurance to any or all of its employees, with those withholding coverage subject to penalty fees.
With this service, Brylaw aims to ease the compliance concerns of ASLE member firms. By taking on the responsibility of providing employees with the necessary forms and information, Brylaw helps ALE member firms streamline their operations and maintain full compliance with Affordable Care Act requirements.
Brylaw is a legal and accountancy firm that services individual and corporate clients. Founded on the principles of professionalism, responsiveness, and efficiency, the firm is committed to providing a range of quality of services to business owners, employers, and professionals. The company recently began offering a range of Obamacare-related services.
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Chino Hills, California 91709