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Compliance Alert –ACA Employer Reporting Requirements – Deadlines Approaching

Are you in compliance with the Affordable Care Act (ACA) reporting requirements? To learn about the reporting requirements and important upcoming deadlines, a webinar presented by ABC’s general counsel, Littler Mendelson is available for ABC members to view, which can be found here. A login is required to view the webinar titled “Compliance Alert—Learn About the Affordable Care Act’s New Reporting Requirements for 2015” and a PowerPoint is also available.  

The ACA includes new onerous information reporting requirements. ACA’s reporting requirements (under Internal Revenue Code sections 6055  and 6056) apply to employers with 50 or more full-time employees and full-time-equivalent employees, as well as employers of any size that self-insure. Effective for the 2015 calendar year, employers are required to collect certain information about the health coverage they offer and, in the first quarter of 2016, report such information with the Internal Revenue Service (IRS). In addition to filing the information returns with the IRS, an employer must provide a related statement to each full-time employee.

Must read additional resources:

Applicable large employers (50 or more full-time employees and full-time-equivalent employees) can learn more about section 6056, here. Questions and Answers on Section 6056 can be found here.
  • 2015 Form 1095-C Employer-Provided Health Insurance Offer and Coverage
  • 2015 Form 1094-C Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns
  • 2015 Instructions for Forms 1094-C and 1095-C
  • Applicable large employers that file 250 or more information returns during the calendar year must file the returns electronically through the ACA Information Returns (AIR) program  
Self-insured employers can learn more about 6055, here. Questions and Answers on Section 6055 can be found here.
  • 2015 Form 1095-B Health Coverage
  • 2015 Form 1094-B Transmittal of Health Coverage Information Returns
  • 2015 Instructions for Forms 1094-B and 1095-B
  • Note:  Self-insured employers that are applicable large employers are subject to the reporting requirements of both section 6055 and section 6056 and are required to use Form 1095-C and transmittal Form 1094-C. Self-insured employers, with fewer than 50 full-time or full-time equivalent employees, should use Form 1095-B and transmittal Form 1094-B.
Questions and Answers on the Employer Mandate are available here.

U.S. Small Business Administration ACA Resources can be found here.

*Employers are encouraged to consult counsel and/or their insurance brokers about complying with ACA in 2015 and beyond.

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