News
Employer Reporting of Health Coverage – Sections 6055 & 6056
Posted 01.26.15
Under IRS Code Sections 6055 and 6056, certain employers must provide information to the IRS about the health plan coverage they offer (or do not offer) to their employees, beginning in 2016 for the 2015 calendar year. The reporting will provide the government with information to administer ACA mandates, including the large employer shared responsibility penalty and the individual mandate.
The IRS released draft versions of forms and related draft instructions that employers will use to satisfy the reporting requirement. NEEBCo’s Reporting Workbooks for Section 6055 and 6056 will guide employers through each step of the reporting process to help track the information necessary to be in compliance.
For more information on the reporting requirements or to begin using the reporting workbooks, contact your NEEBCo representative today.
IRS Questions and Answers on Information Reporting by Health Coverage Providers Section 6055