United Benefit Advisors Insight and Analysis Blog

Trade Bill Increases ACA Reporting Penalties; Reinstates Tax Credit

Posted by: Danielle Capilla    Aug 13, 2015 12:00:00 PM

Most employers are familiar with the penalties assessed to applicable large employers that fail to offer minimum essential coverage that is minimum value and affordable. In addition to being required to offer coverage, employers (all applicable large employers, and all employers with self-funded plans regardless of size) are required to complete IRS reporting forms under sections 6055 and 6056 of the Patient Protection and Affordable Care Act (ACA).

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Topics: IRS Reporting Rules, Affordable Care Act, Trade Preferences Extension Act of 2015, Health Coverage Tax Credit