If you are responsible for benefits in your organization, and you have more than 100 participants on those benefit plans, you have a legal obligation to take care of 5500 reporting. The intent behind the regulation was to ensure employees, beneficiaries, and the government had access to information about the plan to ensure the rights of the participants were being protected and the plan was being managed within certain standards.
As we previously reported, the American Health Care Act (AHCA) is the House Republican leadership’s legislative vehicle to begin the process of repealing and replacing the Affordable Care Act (ACA or ObamaCare). Progress on the AHCA came to a halt at the end of March when it became clear the bill did not have enough votes to pass the House and the scheduled vote on the bill was cancelled. However, House Republicans continued negotiations on the bill and after a couple of key amendments won over enough Republican representatives to pass the bill on May 5th.
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