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Attention Employers – Are you subject to the ACA reporting requirements due to employees January 31, 2016?

[fa icon="calendar'] Jan 19, 2016 8:57:16 AM / by admin posted in Small Employers with Fewer Than 50 Employees, Affordable Care Act, Employers with 50 or More Employees, Filing deadlines January 31 2016, tax, Employer-Sponsored Self-Insured Plans, ACA reporting requirements

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This is important information regarding Employer Reporting Requirements of the Affordable Care Act beginning in 2016 (for health coverage offered on or after January 1, 2015). Internal Revenue Code (IRC) Section 6056 requires Applicable Large Employers (ALEs) and employers of all sizes with self-insured plans to file information returns with the Internal Revenue Service (IRS) to report applicable healthcare information. An ALE must file Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, for each full-time employee, and the related Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns. These reporting requirements help administer the employer shared-responsibility mandate and the individual mandate added as a part of the Patient Protection and Affordable Care Act.

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