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posted on Monday, January 25, 2016
GSA Business
January25, 2016
By Teresa C. Hopkins
[email protected]
Published Jan. 25, 2016
More than 211,000 South Carolinians have signed up for health
insurance so far during this enrollment period, which ends Sunday,
according to Kevin Counihan, director and CEO of The Health Insurance
Marketplace in Washington, D.C. He said 90% of South
Carolinians are qualifying for tax credits.
Counihan is traveling across the country to get feedback from
health care brokers and those who help sign people up to the
exchange. His most recent visit was to New Horizon Family Health
Services in Greenville. He said he has learned three
things from his visits.
"First, what we are hearing is the system is working well," he
said. "We had issues two years ago, and the issue of if the system
is working has been asked and answered."
Second, he mentioned new tools to help people decide on coverage
that, for example, determine whether their doctor is in the
network, whether their maintenance medication is covered and
whether certain hospitals are covered. He said, "those were all
introduced for the first time this year, and those are working
well. People like those tools and they're using them."
The third thing Counihan has learned during his visits is that the
increase in the penalty for not signing up has become a motivating
factor for people to enroll.
"The penalty, which has crept up a little bit into 2016, now it is
$695 per person or up to 2.5% of household income; that's having a
motivating effect in terms of people enrolling. That's been
interesting. We weren't sure how that was going to play out, but it
turns out that that is a motivator," he said.
Counihan said signup during this enrollment period has gone
smoothly overall, with no major glitches.
"We're expecting a big surge at the end of the month because of
the upcoming deadline," he said. Coverage for enrollees meeting the
Jan. 31 deadline begins March 1.
Counihan said businesses don't have a deadline with the Health
Insurance Marketplace. They do, however, have deadlines by which to
report 2015 information to the IRS and to provide employees with
the appropriate IRS forms, according to Pam Evette, president and
CEO of Quality
Business Solutions in Travelers Rest.
"The IRS recently extended the deadlines for reporting 2015
information under the Affordable Care Act. Employers now have until
March 31, previously Feb. 1, to provide employees with their Form
1095-C or Form 1095-B," Evette said.
Also, according to Evette, the deadlines for employers to report
offers of health coverage to the IRS - forms 1094-B, 1094-C, 1095-B
and 1095-C - have been extended by three months. The deadline for
paper filing, available only to employers submitting fewer than 250
1095-Cs, is now May 31. The deadline for electronic filing,
available to all employers, is now June 30. The deadline extensions
apply only to this year, she said.
"If you are an employer who must be in compliance with ACA in 2015
and beyond, it's important that not only you, but also your
employees are aware of the changing regulations and requirements
year over year," Evette said. "It is crucial for business leaders
to educate employees on what they are required to do and when and
how to complete these requirements in the easiest and most
efficient manner."
Evette said the IRS
website on the Affordable Care Act is a good resource for
anyone looking for information.