Employer coverage reporting requirements (6055, 6056)

On March 10, 2014, the U.S. Department of the Treasury and IRS published final rules to implement the information reporting provisions for insurers and certain employers under the ACA that take effect in 2015. Employers who provide MEC during a calendar year are required to report to the IRS certain information about individuals covered by MEC and also to provide a statement to those individuals.

Section 6055 reporting is the required reporting to the IRS of information relating to covered individuals that have been provided minimum essential coverage (MEC) by health insurance issuers (issuers), certain employers, and other entities that provide MEC. A statement disclosing MEC information must also be furnished to responsible individuals (i.e., subscriber).

Section 6056 reporting is the required reporting to the IRS of information relating to offers of health insurance coverage by applicable large employers (ALE) that sponsor group health plans. ALEs generally employ 50 or more full-time employees and full-time equivalents (FTE). A statement disclosing information about the offer of coverage must also be furnished to full-time employees.