Affordable Care Act Reporting Clause Samples
The Affordable Care Act Reporting clause requires parties, typically employers or service providers, to comply with federal reporting obligations under the Affordable Care Act (ACA). This involves collecting, preparing, and submitting specific information about health coverage offered to employees, such as the type of coverage, employee eligibility, and coverage periods, to the IRS and sometimes to employees themselves. By including this clause, the agreement ensures that all parties fulfill their legal responsibilities, thereby avoiding penalties and maintaining compliance with federal healthcare regulations.
Affordable Care Act Reporting. The Board of County Commissioners (County) is considered an Applicable Large Employer (ALE) under the provisions of the Affordable Care Act (ACA). As an ALE, the County must comply with all reporting requirements of the ACA for the health plans it sponsors. The Union Plan is considered a sponsored health plan of the County under the ACA because the County contributes funds to the Union Plan under the provisions of the CBA. The Fund shall maintain the Union Plan in compliance with the ACA and shall ensure the Union Plan provides Affordable health insurance coverage that meets Minimum Essential Coverage and Minimum Value, as those terms are defined in the ACA and its regulations. The Fund shall be responsible for meeting all reporting obligations under the ACA for an ALE that sponsors a self funded health plan and the Fund shall be responsible for meeting all disclosure and notice requirements under the ACA with regard to the County employees that participate in, or are eligible for, the Union Plan pursuant to the CBA. On an annual basis, not later than September 30th of each year, the Fund will provide the County with verification that the Union Plan is in full compliance with the ACA and all of its associated reporting requirements. In exchange for the compliant reporting by the Union Plan on behalf of the County, there may be an annual contribution of up to fifteen thousand ($15,000) dollars made to the Union Plan, in order to supplement the cost of the Fund's consultant relating to the annual ACA reporting requirements. This payment shall be made upon receipt, by the County, of an invoice form the Fund for the amount to be paid. The Fire Rescue Administrator and the Fund will both agree on the amount to be paid.
Affordable Care Act Reporting. As of the earlier of the Closing Date or the applicable reporting deadline under the Affordable Care Act, Citywide, Citywide Banks and each Commonly Controlled Entity will accurately complete and timely file with the Internal Revenue service, and timely send to all covered individuals, as applicable, any required IRS Forms 1094-B, 1095-B, 1094-C and 1095-C for the 2016 calendar year with respect to each Benefit Plan that is subject to the Affordable Care Act.
Affordable Care Act Reporting. As of the earlier of the Closing Date or the applicable reporting deadline under the Affordable Care Act, each FBLB Entity and any Commonly Controlled Entity will accurately complete and timely file with the IRS, and timely send to all covered individuals, as applicable, any required IRS Forms 1094‑B, 1095‑B, 1094‑C and 1095‑C for the 2016 calendar year with respect to each Plan that is subject to the Affordable Care Act.
Affordable Care Act Reporting. As of the earlier of the Closing Date or the applicable reporting deadline under the Affordable Care Act, each AIM Entity and any Commonly Controlled Entity will accurately complete and timely file with the IRS, and timely send to all covered individuals, as applicable, any required IRS Forms 1094 B, 1095 B, 1094 C and 1095 C for the 2019 calendar year with respect to each Plan that is subject to the Affordable Care Act.
Affordable Care Act Reporting. As of the earlier of the Closing Date or the applicable reporting deadline under the Affordable Care Act, each BVBC Entity and any Commonly Controlled Entity will accurately complete and timely file with the IRS, and timely send to all covered individuals, as applicable, any required IRS Forms 1094‑B, 1095‑B, 1094‑C and 1095‑C for the 2018 calendar year with respect to each Plan that is subject to the Affordable Care Act.
Affordable Care Act Reporting. As required under the Affordable Care Act, KFI, KleinBank and each Commonly Controlled Entity will accurately complete and timely file with the IRS, and timely send to all covered individuals, as applicable, any required IRS Forms 1094-B, 1095-B, 1094-C and 1095-C and all other associated or supplemental forms or notices for the 2018 calendar year with respect to each Benefit Plan that is subject to the Affordable Care Act.