Discover the ins and outs of reporting requirements for the Affordable Care Act.

1. AFFORDABLE CARE ACT
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6055/6056 REPORTING

2. PANELIST INTRODUCTION
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Erik C. Olson, CPA/ CVA
Shareholder – Tax & Business Valuation Services
Todd Covert, Vice President of Sales
Norbert F. Kugele, Partner
Monika Blazeski,
Certified Healthcare Reform Specialist

3. WHY WAS 6055 & 6056 REPORTING REQUIREMENT
ADDED TO THE INTERNAL REVENUE CODE?
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In simple terms, the individual mandate is the part of the law
that says all individuals are required to have minimum essential
health coverage; much like the fact that every registered vehicle
must be insured.
Employer shared responsibility is the part that states certain
large employers are required to offer affordable minimum
essential health coverage to its employees, OR pay a fee to the
government who will then make it available through the
exchanges.

4. 6056
6055
THE CODE SECTIONS
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The Affordable Care Act added section 6055 to the Internal Revenue
Code, requiring every provider of minimum essential coverage to
report coverage information by filing an information return with the
IRS and furnishing a statement to individuals (employees). This
information is used by the IRS to administer and ensure compliance
with the individual shared responsibility provision.
Section 6056 of the Internal Revenue Code, requires applicable large
employers to file information returns with the IRS and provide
statements to their full-time employees about the health insurance
coverage the employer offered.

5. WHAT IS AN ALE?
Style......................... Pale Ale
Abv........................... 4.6%
IBUs......................... 25 IBU
Original Gravity……. degrees plato
Brewed Since........... 2013
Time Frame.............. Year Round
REALLY…WHAT IS AN ALE?
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6. APPLICABLE LARGE EMPLOYER (ALE) DEFINED
An ALE is a business entity that employs 50 or more full-time
equivalent employees (FTEs).*
Full-Time Employee
An employed person who averages 30 or more hours of service
per week or 130 hours per month.
* Full-Time Equivalent Employee (FTE)
The number of full-time equivalent employees is determined by adding the number
of full-time employees plus total hours worked by part-time employees in a given
month (capped at 120 per employee), divided by 120.
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7. TRACKING AND MEASURING
It is important for those employers that will offer coverage to be able to
identify their full-time employees in advance of coverage periods. A full-time
employee for this purpose is an employee who is employed on average at least
30 hours per week. A monthly equivalent of 130 hours may be used if it is
applied on a reasonable and consistent basis.
Measurement period for full-time equivalent employees can be three to 12
months, with a subsequent stability period that generally cannot be shorter
than six months.
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8. THE FILINGS
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For calendar year 2015, Forms 1094-C and 1095-C are
required to be filed by February 29, 2016, or March 31,
2016, if filing electronically.

9. RESPONSIBILITY CHART
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16. A FEW PARTING QUESTIONS…
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What does the ‘post filing’ experience look like for the
employer?
Likelihood of a last minute delay or relief relative
to the 6055/6056 filing?
How are you gearing up to support future
developments?
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17. ADDITIONAL Q&A
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OPEN DISCUSSION