
INSIGHTS FOR INSURANCE COMPANIES	JANUARY 20, 2016

CONNECT

Director of Insurance

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www.eidebailly.com

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Eide Bailly is a Top 25 CPA firm in the nation, serving 360 insurance companies. Eide Bailly is consistently ranked among the Top 10 in the United States by A.M. Best for the Amount of Statutory Premiums Audited.

Insurance Insights is published quarterly to keep our clients and business friends informed on current news.

Important Updates: IRS Health Insurance Provider Fee and Other Reporting

Below are several important updates related to health insurance fees and information return reporting:

Moratorium on the Providers Fee for 2017

As a result of the Consolidated Appropriations Act of 2016, which provides funding to the federal government through September 30, 2016, the IRS issued the following regarding the suspension of the 2017 Providers Fee:

The Consolidated Appropriations Act of 2016, Title II, § 201, Moratorium on Annual Fee on Health Insurance Providers, suspends collection of the health insurance provider fee for the 2017 calendar year. Thus, health insurance issuers are not required to pay these fees for 2017.

This moratorium does NOT affect the filing requirement and payment of these fees for 2016. Form 8963 (Rev. February 2016) must be filed by April 18, 2016.

Be sure to use the most current version, available at www.irs.gov/form8963 in February 2016. E-filing is available beginning on March 1, 2016.

Delay of Excise Tax on High-Cost Employer-Sponsored Health Coverage

Also included in the Consolidated Appropriations Act of 2016 was a delay of excise tax, or Cadillac Tax, on high cost employer-sponsored health coverage from 2017 to 2019.

Reminder: Extended due dates for other ACA information return reporting may be found here.

Please reach out to your Eide Bailly representative if you have questions.

Joe Pope

Partner

612.253.6575

jpope@eidebailly.com

This publication is produced and published by Eide Bailly and distributed with the understanding that the information contained does not constitute legal, accounting or other professional advice. It is not intended to be responsive to any individual situation or concerns as the contents of the publication are intended for general informational purposes only. Readers are urged not to act upon the information contained in this publication without first consulting competent legal, accounting or other professional advice regarding implications of a particular factual situation. Questions and information for publication can be submitted to your Eide Bailly representative. To request reprints of this publication, send a written request to RequestReprints@eidebailly.com.
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