United Benefit Advisors Insight and Analysis Blog

Affordable Care Act Information Returns

Posted by: Danielle Capilla    Sep 15, 2015 8:38:15 PM

Under the Patient Protection and Affordable Care Act (ACA), individuals are required to have health insurance while applicable large employers (ALEs) are required to offer health benefits to their full-time employees. In order for the Internal Revenue Service (IRS) to verify that (1) individuals have the required minimum essential coverage, (2) individuals who request premium tax credits are entitled to them, and (3) ALEs are meeting their shared responsibility (play or pay) obligations, employers with 50 or more full-time or full-time equivalent employees and insurers will be required to report on the health coverage they offer. (If ALEs are not offering coverage, they will have to report on that, too).

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Topics: ACA, Danielle Capilla, employer-shared responsibility reporting, Affordable Care Act Information Returns, applicable large employers, ACA Section 6055, ACA Section 6056