United Benefit Advisors Insight and Analysis Blog

IRS Delay in 6055 and 6056 Reporting for 2017

Posted by: Danielle Capilla    Dec 8, 2016 10:30:00 AM

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. Final instructions for the 1094-B and 1095-B and the 1094-C and 1095-C forms were released in September 2016, as were the final forms for 1094-B, 1095-B, 1094-C, and 1095-C. The reporting requirements are in Sections 6055 and 6056 of the ACA.

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Topics: health insurance, ACA, PPACA reporting, Danielle Capilla, applicable large employers, ACA reporting, IRS Form 6055 and 6056

IRS Provides Major Delay in 6055 and 6056 Reporting

Posted by: Danielle Capilla    Jan 14, 2016 12:00:00 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.

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Topics: ACA, minimum essential coverage, employer shared responsibility, Danielle Capilla, Affordable Care Act, applicable large employers, ACA reporting, IRS Form 6055 and 6056