Fusion Benefits: IRS New Reporting Rules About Health Coverage Offered/provided To Employees. (Doc ID 2013034.1)

Last updated on MARCH 12, 2024

Applies to:

Goal

Client requests the following for Compliance:

1. 6055 – OHD to track in 2015 and report in 2016; PY2015 who is covered each month
2. 6056 – OHD to track in 2015 and report in 2016; PY2015 who is offered coverage per month at the employee level; must show minimum value and who offered to (i.e.: Family coverage offered to all).

Background:
IRS released the final versions of forms and instructions employers will use to complete 6055/6056 reporting under ACA.

Instructions
You need to read in their entirety, while there are lines that can be skipped on 1094-C, it does not appear any lines can be skipped on 1095-C. The forms below are to be used by applicable large employers to satisfy both the Section 6055 and 6056 reporting requirements, as applicable.
http://www.irs.gov/pub/irs-pdf/i109495c.pdf

Form 1094-C: Transmittal to the IRS
- Used to report summary information for each employer to the IRS and to transmit Forms 1095-C to the IRS
- Complete lines 1 – 8 and sign
http://www.irs.gov/pub/irs-pdf/f1094c.pdf

Form 1095-C: Notice to the Employee & IRS (like a W-2)
- Used to report information about each employee
- Complete a form for each person coverage is/was offered to (includes employees & non-employees like COBRA beneficiaries, etc.)
- Complete all lines as appropriate per each person coverage offered to
- NOTE for FULLY INSURED PLANS: Part 3 the insurance carrier will complete and transmit on behalf of employer
- http://www.irs.gov/pub/irs-pdf/f1095c.pdf

These forms help the IRS determine whether an applicable large employer owes penalties under the employer shared responsibility rules, as well as whether an employee is eligible for premium tax credits.
 

Solution

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