Affordable Care Act (ACA) 6056 and 6055 Reporting Requirements
Description
Mark Kinney, benefits lawyer, will be presenting important information on the ACA added two employer reporting requirements taking effect for 2015:
- Internal Revenue Code § 6056 requires applicable large employers to provide an annual statement to each full-time employee detailing the employer’s health coverage offer (or lack of offer).
- Internal Revenue Code § 6055 requires employers (any size) that provide minimum essential coverage under a self-funded plan to provide an annual statement to covered employees and former employees (including information about covered dependents).
- The IRS has issued Form 1095-C, Employer-Provided Health Insurance Offer and Coverage to satisfy the requirement under Code § 6056. If the employer self-funds its plan(s), the employer also will use Form 1095-C to satisfy the additional requirement under Code § 6055.
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