ACA Compliance Bulletin - IRS Issues Letter 5699 to Noncompliant EmployersKelley M. Bendele
An ALE that fails to comply with the Section 6056 reporting requirements may be subject to penalties equal to $260 per violation for failure to file correct information returns by required deadlines.
If you've been in business long, you know paperwork stacks up fast. Payroll records alone can fill your file cabinets. But do you dare throw anything out and risk running afoul of the law? Do you really need payroll records that go all the way back to the 1990s? Here are some guidelines from two government agencies to set your mind at ease and free up some space.
Health Reform Bulletin 132 | IRS Releases Finalized 2017 Forms and InstructionsCBIZ, Inc.
The 2017 Affordable Care Act reporting is upon us. The forms to be used, and the instructions for those forms, have just been released by the Internal Revenue Service. As a reminder, there are two annual reporting obligations imposed by IRC Section 6055 minimum essential coverage reporting, and by IRC Section 6056, employer shared responsibility reporting.
Heath care reform updates for the week of September 1-7, 2014. Among the ACA topics we will cover this week are new IRS instructions for filling out ACA reporting forms and changes in dependent children coverage.
ACA Compliance Bulletin - IRS Issues Letter 5699 to Noncompliant EmployersKelley M. Bendele
An ALE that fails to comply with the Section 6056 reporting requirements may be subject to penalties equal to $260 per violation for failure to file correct information returns by required deadlines.
If you've been in business long, you know paperwork stacks up fast. Payroll records alone can fill your file cabinets. But do you dare throw anything out and risk running afoul of the law? Do you really need payroll records that go all the way back to the 1990s? Here are some guidelines from two government agencies to set your mind at ease and free up some space.
Health Reform Bulletin 132 | IRS Releases Finalized 2017 Forms and InstructionsCBIZ, Inc.
The 2017 Affordable Care Act reporting is upon us. The forms to be used, and the instructions for those forms, have just been released by the Internal Revenue Service. As a reminder, there are two annual reporting obligations imposed by IRC Section 6055 minimum essential coverage reporting, and by IRC Section 6056, employer shared responsibility reporting.
Heath care reform updates for the week of September 1-7, 2014. Among the ACA topics we will cover this week are new IRS instructions for filling out ACA reporting forms and changes in dependent children coverage.
Health Reform Bulletin 136 | IRS Delays Certain ACA DisclosuresCBIZ, Inc.
The IRS issued guidance (Notice 2018-06) on December 22, 2017 announcing a delay in providing the Form 1095-B and Form 1095-C disclosure statements to individuals; these statements are generally due by January 31st following the reporting year.
With all the planning and preparation that goes into a wedding, taxes may not be high on your summer wedding checklist. However, you should be aware of the tax issues that come along with marriage. Here are some basic tips to help with your planning:
What Is Form W-2 and How Does It Work?TaxAct, Inc.
If you work for an employer, then your employer withholds income taxes from each of your paychecks. That’s because both federal and most state governments collect income tax year-round, not just on April 15.
Every January or early February, you should receive a form W-2 from your employer that lists exactly how much money you made the previous year and how much of it went to taxes.
Form W-2 is one of those forms that you, the taxpayer, don’t have to fill out; your employer provides all of the information on the form. In fact, your employer has to mail you, the IRS and your state the W-2 by January 31 or face a penalty.
Code Section 6055 – What Information Must be Reportedntoscano50
The Affordable Care Act (ACA) created new reporting requirements in Internal Revenue Code (Code) Section 6055, which require health insurance issuers, sponsors of self-insured health plans, government agencies that administer government-sponsored health insurance programs and other entities that provide minimum essential coverage (MEC) to file information with the Internal Revenue Service (IRS) about the health plan coverage they offer…
SterlingRisk - Tackling ACA Reporting Feb 2014ntoscano50
February 11, 2015
SterlingRisk and Proskauer Present: ACA Reporting Requirements (Code Sections 6055/6056)
Hosted by SterlingRisk and Presented by Stacy Barrow, Esq. from Proskauer
Stacy Barrow, Esq. from Proskauer reviewed the complex reporting requirements on employers that will be used to determine whether the employer is liable for an employer shared responsibility payment and the required reporting forms. This webinar was geared towards employers with 50 or more full-time equivalent employees or those with self-insured group health plans. The ACA imposes complex reporting requirements on employers that will be used to determine whether the employer is liable for an employer shared responsibility payment (a penalty for failure to offer qualifying coverage to full-time employees).
IRS Reporting Under the Affordable Care ActEquifax
This guide is designed to help employers understand the new IRS reporting requirements of The Affordable Care Act (ACA) and what their organizations will be accountable for under Internal Revenue Code sections 6055 and 6056. Follow our ACA Insights blog for the latest developments impacting employers: http://eqfx.co/ACAinsights
Provider Reporting of Health Coverage -- Code Section 6055ntoscano50
The Affordable Care Act (ACA) created new reporting requirements in Internal Revenue Code (Code) Section 6055. Under these new reporting rules, all entities that provide minimum essential coverage (MEC) must provide information to the Internal Revenue Service (IRS) about the health plan coverage they provide. Related statements must also be provided to individuals. Reporting is first required in early 2016 for calendar year 2015.
This webinar covers: information that has to be collected | specific codes to use | pitfalls in completing the forms | changes to the final forms and instructions.
Health Reform Bulletin: Finalized ACA Reporting Forms & Employer Appeals to M...CBIZ, Inc.
This bulletin details the release of a number of forms and compliance tools to assist employers subject to the Affordable Care Act’s (ACA) Shared Responsibility Requirements to comply with the law. Of particular note, the finalized version of the forms used to satisfy the IRC Section 6056 and 6055 reporting requirements, together with the related instructions, have been issued. While the forms released last week were for the 2014 calendar year reporting (the voluntary reporting year for all employers), it is presumed the mandatory forms to be released for 2015 reporting later this year will be quite similar to those just issued.
Fraser Trebilcock attorneys Beth Latchana and Mark Kellogg spoke this week at the Institute of Continuing Legal Education’s 27th Annual Tax Conference. In their overview of health care reform, they detailed most important aspects of the ACA, including: the health insurance marketplace, employer classification, the Pay or Play Mandate, reporting requirements, group health plan mandates, the individual insurance mandate, the Small Business Health Option Program, and the Small Business Health Care Affordability Tax Credits.
Health Reform Bulletin 136 | IRS Delays Certain ACA DisclosuresCBIZ, Inc.
The IRS issued guidance (Notice 2018-06) on December 22, 2017 announcing a delay in providing the Form 1095-B and Form 1095-C disclosure statements to individuals; these statements are generally due by January 31st following the reporting year.
With all the planning and preparation that goes into a wedding, taxes may not be high on your summer wedding checklist. However, you should be aware of the tax issues that come along with marriage. Here are some basic tips to help with your planning:
What Is Form W-2 and How Does It Work?TaxAct, Inc.
If you work for an employer, then your employer withholds income taxes from each of your paychecks. That’s because both federal and most state governments collect income tax year-round, not just on April 15.
Every January or early February, you should receive a form W-2 from your employer that lists exactly how much money you made the previous year and how much of it went to taxes.
Form W-2 is one of those forms that you, the taxpayer, don’t have to fill out; your employer provides all of the information on the form. In fact, your employer has to mail you, the IRS and your state the W-2 by January 31 or face a penalty.
Code Section 6055 – What Information Must be Reportedntoscano50
The Affordable Care Act (ACA) created new reporting requirements in Internal Revenue Code (Code) Section 6055, which require health insurance issuers, sponsors of self-insured health plans, government agencies that administer government-sponsored health insurance programs and other entities that provide minimum essential coverage (MEC) to file information with the Internal Revenue Service (IRS) about the health plan coverage they offer…
SterlingRisk - Tackling ACA Reporting Feb 2014ntoscano50
February 11, 2015
SterlingRisk and Proskauer Present: ACA Reporting Requirements (Code Sections 6055/6056)
Hosted by SterlingRisk and Presented by Stacy Barrow, Esq. from Proskauer
Stacy Barrow, Esq. from Proskauer reviewed the complex reporting requirements on employers that will be used to determine whether the employer is liable for an employer shared responsibility payment and the required reporting forms. This webinar was geared towards employers with 50 or more full-time equivalent employees or those with self-insured group health plans. The ACA imposes complex reporting requirements on employers that will be used to determine whether the employer is liable for an employer shared responsibility payment (a penalty for failure to offer qualifying coverage to full-time employees).
IRS Reporting Under the Affordable Care ActEquifax
This guide is designed to help employers understand the new IRS reporting requirements of The Affordable Care Act (ACA) and what their organizations will be accountable for under Internal Revenue Code sections 6055 and 6056. Follow our ACA Insights blog for the latest developments impacting employers: http://eqfx.co/ACAinsights
Provider Reporting of Health Coverage -- Code Section 6055ntoscano50
The Affordable Care Act (ACA) created new reporting requirements in Internal Revenue Code (Code) Section 6055. Under these new reporting rules, all entities that provide minimum essential coverage (MEC) must provide information to the Internal Revenue Service (IRS) about the health plan coverage they provide. Related statements must also be provided to individuals. Reporting is first required in early 2016 for calendar year 2015.
This webinar covers: information that has to be collected | specific codes to use | pitfalls in completing the forms | changes to the final forms and instructions.
Health Reform Bulletin: Finalized ACA Reporting Forms & Employer Appeals to M...CBIZ, Inc.
This bulletin details the release of a number of forms and compliance tools to assist employers subject to the Affordable Care Act’s (ACA) Shared Responsibility Requirements to comply with the law. Of particular note, the finalized version of the forms used to satisfy the IRC Section 6056 and 6055 reporting requirements, together with the related instructions, have been issued. While the forms released last week were for the 2014 calendar year reporting (the voluntary reporting year for all employers), it is presumed the mandatory forms to be released for 2015 reporting later this year will be quite similar to those just issued.
Fraser Trebilcock attorneys Beth Latchana and Mark Kellogg spoke this week at the Institute of Continuing Legal Education’s 27th Annual Tax Conference. In their overview of health care reform, they detailed most important aspects of the ACA, including: the health insurance marketplace, employer classification, the Pay or Play Mandate, reporting requirements, group health plan mandates, the individual insurance mandate, the Small Business Health Option Program, and the Small Business Health Care Affordability Tax Credits.
Health Reform Bulletin Oct, 2015 - Amendments to the small employer definitio...CBIZ, Inc.
The latest Health Reform Bulletin is here! This bulletin is chock full of information from a new law that amends the definition of small employer, finalized ACA reporting forms 1094 and 105 and adjusted PCORI fees and much more. Check out some more in-depth information above.
Complete ACA Reporting Services at No Additional CostDATIS
Is your HR and Payroll software charging you $15,000 or more to help you with ACA reporting? The DATIS fully unified solution includes comprehensive ACA monitoring and reporting tools to ensure accuracy and compliance seamlessly. The best part... it's free! Our cloud-based software allows us to quickly release new features and services to our clients in order to meet their needs. We do so at no additional cost, in order to ensure that all of our clients maintain accurate and compliant data and processes.
Health Care Reform Reporting Requirements for Employers and Health PlansThe Gardner Group
This Legislative Brief provides a summary of ACA's reporting requirements for employers and health plans. It summarizes Form W-2 reporting, applicable large employer health coverage reporting under Code section 6056, reporting of health coverage by health insurance issuers and sponsors of self-insured plans under Code section 6055, transparency in coverage reporting and quality of care reporting. It has been updated for final regulations on the section 6055 and 6056 reporting requirements.
News flash july 24 2014 -News Flash July 24 2014--IRS Releases Draft Pay or P...Annette Wright, GBA, GBDS
On July 24, 2014, the Internal Revenue Service (IRS) released draft forms for use by applicable large employers and insurers to report information on health coverage required under the Patient Protection and Affordable Care Act (PPACA).
ACA Compliance Bulletin - Final Form for ACA ReportingNicholas Toscano
The Internal Revenue Service (IRS) has released final 2016 forms for reporting under Internal Revenue Code (Code) Sections 6055 and 6056.
- Forms 1094-B and 1095-B are used by entities reporting
under Section 6055, including self-insured plan sponsors
that are not applicable large employers (ALEs). Final
2016 versions of these forms and final instructions
were released on Sept. 26, 2016.
- Forms 1094-C and 1095-C are used by ALEs to report
under Section 6056, as well as for combined Section
6055 and 6056 reporting by ALEs who sponsor selfinsured
plans. Final 2016 versions of these forms and
final instructions were released on Sept. 30, 2016.
Minor changes were made to the forms, including the addition
of two new “Offer of Coverage” codes for use on Form 1095-C.
The instructions also included some clarifications.
Overwhelmed by ever-changing Affordable Care Act regulations? You aren’t alone. The new wave of requirements are here, and that means new employer shared responsibility reporting rules for your business in 2015...or big fines if you don’t comply.
Check out our ACA presentation with health care reform and employee benefits experts from Arthur J. Gallagher & Co. and PeopleMatter to:
- Find out what the mandatory Section 6055/6056 reporting is, who it applies to in 2015 and why it’s so important
- Learn how to report minimum essential coverage, offers of coverage, full-time employee status and other essential elements of these forms to ensure compliance
- Get actionable tips on how to collect employee information, stay ahead of deadlines, save time and ease administrative burdens
- See hiring/scheduling tools designed to help you plan strategically and avoid reporting fines that can reach $1.5M
IRS Issues Draft Forms and Instructions for 2016 ReportingCBIZ, Inc.
On August 6, 2015, the Internal Revenue Service (IRS) issued draft 2015 Forms and Instructions for the annual reporting that will be required in 2016 by employers subject to the Affordable Care Act’s shared responsibility requirements, as well as by plans providing minimum essential coverage (MEC).
Form 1095-B For Organizations Employing Less Than 50 EmployeesCBIZ, Inc.
Form 1095-B provides information regarding any coverage you may have been enrolled in during the 2015 calendar year with a given insurance carrier. It will also list your spouse and/or any dependents who may have been enrolled in that same health plan. You can use the information on this form as proof of coverage for yourself and your enrolled family members. This information is proof to the IRS that you do not owe a penalty tax due to being uninsured.
Staying Up to Date on Required Health Care Reportingbenefitexpress
This presentation reviews:
• When temporary employees become your employees
• The factors the government uses to determine employment status
• The steps you can take to avoid these employees becoming your employees
• Consequences under Health Care Reform if it is determined that they are your employees
Health Reform Bulletin 141 | 2018 Forms and Instructions for 1094/1095 Series...CBIZ, Inc.
• 2018 Forms and Instructions for 1094/1095 Series ACA Reporting Forms
o Health Insurance Coverage Reporting by Insurers and Sponsors of Self-funded Plans (IRC Section 6055)
Instructions for 2018 Forms 1094-B and 1095-B
Form 1094-B, Transmittal of Health Coverage Information Returns
Form 1095-B, Health Coverage
o Employer Health Insurance Reporting Requirement (IRC Section 6056)
Instructions for 2018 Forms 1094-C and 1095-C
Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns
Form 1095-C, Employer-Provided Health Insurance Offer and Coverage
• Adjusted Patient Centered Outcome Research (PCORI) fee
Webinar: Mid-Year Election Changes for Cafeteria Plansbenefitexpress
Let's talk about cafeteria plans. When can participants make election changes?
While cafeteria plans can be a great option for employees wishing to pick and choose benefits based on cost, when and how to facilitate election changes outside of open enrollment can be tricky to navigate for employers. As the use of cafeteria plans continue to grow, we take a deeper look at the rules and regulations of these plans, particularly as they pertain to mid-year election changes.
COVID-19 Health & Welfare: Compliance for Employersbenefitexpress
As part of our continuing ERISA Compliance series, we covered such compliance topics and more in our April 9th webinar discussing COVID-19 and updates from the IRS and DOL concerning the Families First Coronavirus Response Act.
Plan Sponsor Webinar: Navigating COVID-19 for Employersbenefitexpress
In this webinar, we take a deeper look into how the novel coronavirus is not only affecting the way we live, but changing the way we work. From remote work environments, FMLA, contract agreements and more, we discuss how to navigate the changing workforce during this time of uncertainty, and answer questions to help you make the best decisions for the health and safety of your employees.
Medicare & Employer Health Coverage - a Coordination Conversationbenefitexpress
Let's talk about Medicare and Employer Health Coverage. The rules on coordinating Medicare and employer coverage can be complex. How it complements other programs (such as COBRA, HSAs and the ACA) are also areas of question for both employees and their employers.
Part of our ERISA Compliance Series, this webinar is hosted by ERISA Attorney Larry Grudzien and moderated by chief marketing officer Julia Goebel. This webinar will discuss the top wage and hour issues that may be unknowingly lurking within your company.
The Affordable Care Act touches the lives of most Americans. In fact, nearly 21 million will be at risk if Obamacare is struck down, and may even lose health insurance completely if the law is ruled unconstitutional. This webinar will discuss what the outcome may be if ACA is repealed.
Watch our free one-hour webinar reviewing the rules for the new Individual Coverage HRA and the new Excepted Benefit HRA (ICHRA and EBHRA).
In June 2019, Treasury, DOL and HHS released final regulations that are effective for plan years beginning on or after January 1, 2020. These regulations created two new HRAs, Individual Coverage HRAs (ICHRA) and Excepted Benefit HRAs (EBHRA).
These new HRAs will be subject to ERISA and COBRA, but will not be subject to the nondiscrimination rules under Code Section 105(h). Any employer can offer these new HRAs to their employees. They can be offered to common law employees, but cannot be offered to self-employed individuals, partners and more than 2% S-Corporation shareholders.
Facilitated by ERISA attorney Larry Grudzien, and moderated by Chief Marketing Officer Julia Goebel, this webinar will cover the following:
-Why are these new HRAs so important?
-Which employees can be included or excluded
-What documentation is needed to be completed by employers to adopt them
-What reporting and disclosure requirements must be met
-What types of expenses can be reimbursed
-The pros and cons of establishing and participating in these new HRAs for employers
In today's multi-generational workforce, health and wellness benefits are weighted equally with salary expectations. This is why it's important for small and large businesses alike to embrace health and wellness benefits to recruit top talent as well as retain valued employees.
While offering these benefits has been shown to improve employee engagement and productivity, it comes with some challenges. This webinar reviews common questions human resources professionals confront when offering health and welfare benefits to employees.
Facilitated by ERISA attorney Larry Grudzien, this webinar covers the following:
- Questions Surrounding Tax
- Reporting Disclosures
- ERISA, COBRA & FMLA
- Workers Compensation
- Affordable Care Act (ACA)
Benefits are a critical piece of an employee compensation package, with health care benefits reigning most important. Whether you're already offering these benefits or considering adding them to your benefits offerings, view our webinar to learn more and remain competitive in the talent marketplace.
How to Administer Wellness Programs in Today's Regulatory Environmentbenefitexpress
Are you struggling to make sense of the recent legislative updates surrounding employer sponsored wellness programs? Perhaps you are trying to decide whether to continue with current wellness plans, modify your plans without guidance from the EEOC, postpone new wellness programs or discontinue them all together.
It’s a complicated landscape ripe with several options for “next steps” for employees and plan sponsors of wellness plans in 2019 — with perhaps the biggest barrier of all being that employers cannot measure the risk of wellness plans at this time.
To help guide you through this maze of options, watch our one-hour webinar on-demand to learn what rules remain after the EEOC’s regulations were found invalid and what rules have to be met in 2019 in order to offer a valid wellness program.
How to administer wellness programs in today's regulatory environment
This webinar covers:
Requirements under HIPAA
Requirements under the Internal Revenue Code
Requirements under ERISA
Requirements under GINA
Requirements under ADA
Requirements under ACA
HIPAA Training: Privacy Review and Audit Survival Guidebenefitexpress
HIPAA Privacy Overview for Employers. Review a helpful checklist of requirements an employer must adopt to stay compliant with HIPAA and to survive an audit by Health and Human Services (HHS).
Webinar | Texas vs. United States - The Repeal of ACA?benefitexpress
Recently a Federal District Court held in Texas, et al. v. United States of America, et al. that the individual mandate in the Patient Protection and Affordable Care Act (ACA) is unconstitutional, and that the other provisions in the ACA are invalid because they are inseverable from the individual mandate.
Our ACA compliance webinar reviews:
- What the Federal District Court decided.
- The basis for the decision.
- The impact of the decision.
- What may happen over the next months or year.
- What Congress may do to address the situation.
Healthcare Check-in: The Latest Developments in Health and Welfare Plansbenefitexpress
We work in an exciting industry – which means quick changes are the norm, and adaptability is a necessity. Keep your compliance plans up to date with a download of all legislative changes since our last update webinar. This webinar covered legislation that's passed in the last six months, what's on the way, and what it means for your organization.
Webinar | From Analysis to Action: How Personalization Can Lower Employer Cos...benefitexpress
Personalization is everywhere – from Amazon to Spotify, and is now the expectation for consumers. Personalization in benefits elections is also the new normal, thanks to decision support tools and data analytics. Modern decision support tools draw on data points including demographics, preferences and medical need, all highly relevant towards personalization ... as opposed to the "one-size fits all" modeler of the past that relied on strict business rules.
Using data to advise clients can be a game changer for a broker. With analytics, you can quantify your benefit plan suggestions based on hard evidence, and advise based on unbiased data versus mere opinion. But where does this data come from? And how do you know which data to use?
This webinar shows how decision support tools can provide data to simplify health benefit decisions, allowing employees to feel more confident in their decisions, leading to lower costs for employers and client retention for brokers as a result.
In this webinar, brokers will learn how decision support analytics can reinforce their role as a trusted adviser by:
• Helping employer clients understand which health plans and programs are being used and which ones are the most cost-effective
• Minimizing the number of employees who are over-insured or under-insured, helping to save on annual and long-term costs for healthcare premiums, leading to better client retention over time
• Supporting healthy employee behaviors, resulting in lower health care expenses overall
FSAs can do some heavy lifting for your benefits plan – they allow employees to save pretax dollars for healthcare costs without the price tag of other financial wellness initiatives.
However, many HR professionals lack a deep understanding of the compliance requirements to offer and administer a well-rounded program for their employees. Engage your employees with a financial wellness benefit that works.
Key webinar takeaways:
- How different types of FSAs interact with benefit plans as a whole
- FSA and reimbursement limits for 2018
- Legal implications of offering an FSA to employees
- Best practices for administering a successful FSA benefit plan
Webinar | COBRA Pitfalls: Common Mistakes and How to Avoid Thembenefitexpress
Leaving the organization isn't the end of the benefits cycle for employees. This webinar focuses on how to avoid one of the most common compliance pitfalls in benefits ... COBRA administration.
Some of the top takeaways were:
• The basics of successful COBRA administration
• Required notices associated with COBRA coverage
• How Medicare interacts with COBRA for employees and dependents
• Penalties for noncompliance
Smooth and successful off-boarding of departing employees is as important as well-planned on-boarding of new hires. Log on to your roadmap for a smooth ride into COBRA compliance.
Webinar | Clients Calling “Mayday”? Design a Benefits Technology Strategy to ...benefitexpress
Benefits administration can be a delicate, and even difficult balancing act for employers. From managing costs and administrative demands, to maintaining compliance, and integrating with workforce wellness plans, it’s not surprising that three in four employers called “mayday” and turned to benefits administration outsourcing in 2017. With the administrative difficulty level rising, and advisory competition increasing, it is now critical to become the partner of choice to relieve this distress. But how?
Join Scott Evans, chief product officer at benefitexpress, this May Day, as he guides benefits advisers through the top considerations for building, buying or borrowing benefits administration technology solutions to offer clients. If you and your clients have benefits technology questions, Scott has answers.
Webinar takeaways include:
• How to assess your readiness: learn and identify the benefits administration business model that is right for you
• Key criteria for evaluating potential benefits technology partners, plus a valuable checklist
• How to create a benefits technology strategy for your business which is seen as an imperative – not a “value-add” – by your clients
• Tips for staying competitive in a changing market, using your solutions portfolio
Webinar | Training the Technique: Advanced ERISA Compliancebenefitexpress
If your organization offers any form of retirement plan, chances are you have questions about ERISA. This advanced compliance training will go beyond the basics of the requirements of the Employee Retirement Income Security Act of 1974.
Attend our one-hour training to learn:
- Which employers are affected by ERISA regulations
- Which benefits plans are subject to ERISA
- What documentation employers must provide to prove
compliance
- Penalties for noncompliance
ERISA attorney Larry Grudzien will share industry inside knowledge to help participants ensure total compliance with ERISA regulations.
Webinar | Training the Technique: Advanced ERISA Compliance
[Infographic] The Affordable Care Act and the subsequent IRS forms
1. The
AFFORDABLE
CARE
ACT and the subsequent IRS forms
Internal Revenue Code sections 6055 and 6056. Under these new reporting
rules, certain employers must provide information to the IRS about the health
reporting is intended to promote transparency with respect to health plan
coverage and costs. It also provides the government with information to
administer other ACA mandates, such as the large employer shared
responsibility penalties and the individual penalty.
Which forms?
Things to know
Minimum Essential Coverage
under a self-insured plan?
Are you an Applicable Large
Employer (ALE)?
Neither605660556055
&
6056
YES NO
YES NOYES NO
Form 1094-C and copies of
all 1095-Cs to the IRS by 3/31*
Form 1095-C to employees by 1/31*
Form 1094-B and copies of
all 1095-Bs to the IRS by 3/31*
Form 1095-B to employees by 1/31*
Required Submissions
The IRS will use this information to enforce penalties
under the employer and individual mandates* If the due date falls on a weekend or
holiday - the due date is the next business day
Employee
IRS
Anyone that received Minimum
Essential Coverage (MEC)
Required information on Form
1095-C (ALE Members) or Form
1095-B (non-ALE), such as:
- Name and SSN of every person
covered under the employee’s
program or policy
- Months that the employee and any
dependents were enrolled and
Completed Forms 1095-C (ALE
Members) or completed Forms
1095-B (not an ALE Member) plus:
- Total number of FTE’s per calendar
month
- Total headcount per calendar
month
month
6055
Section Section
Employee
IRS
Completed Forms 1095-C plus required
sections of Form 1094-C, including ALE
Member information such as:
- Total number of FTE’s per calendar
month
- Total headcount per calendar
month
-
per calendar month
Anyone that was a Full-Time Employee (FTE)
Required sections of Form 1095-C, including
employee information such as:
month
- Employee’s share of the lowest cost monthly
premium by calendar month
- Whether an applicable 4980H Safe Harbor
was used by calendar month
6056
Infographic
by