Attention employers! Here’s the honest truth: navigating insurance benefits is not something you want to be dealing with. We completely understand that. Our team spends every day immersed in insurance, simply so you don’t have to. Navigating the insurance labyrinth is easier when you have everything you need, right in front of you.
In our experience, so many employers are unaware of what they are required to file. This March, the IRS issued final regulations designed to simplify the reporting requirements for employers that were imposed by the Affordable Care Act.
These regulations allow combined reporting for the many requirements, and end up simplifying the reporting process for employers providing affordable group health coverage.
Below, we have outlined the most important frequently asked questions.
Do you still need more general information on reporting and filing? We love this Q&A from LifeHealthPro, full of obligations employers need to know. Take a read, or just call us and we can guide you through the process.
Need your forms?
We’ve provided the 2 form drafts we talked about above. Feel free to download, print and use these. For more information about the forms, their purpose and how to file them, see our next post!
All this information was adapted from Tango’s IRS Reporting Compliance with the PPACA under Section 6055 and 6056 of the Internal Revenue Code: Five Things Employers Need to Know.