The ACA created new reporting requirements under Internal Revenue Code sections 6055 and 6056, which require certain employers to provide information to the IRS about the health plan coverage they offer (or do not offer) to their employees. On Feb. 8, 2015, the IRS released final versions of forms and related instructions that employers may use to report under Sections 6055 and 6056 for 2014. Although these forms are not required to be filed for 2014, reporting entities may voluntarily file in 2015 for 2014 coverage, using these forms and instructions. Forms and instructions for reporting 2015 coverage have not yet been released and may contain some changes from the 2014 versions.
View this full article on the Michigan Chamber’s Insurance website and find other up-to-date information related to what’s happening with Health Care Reform (Affordable Care Act) and other health care related topics.
The Michigan Chamber works with hundreds of Michigan business owners, both small and large, to navigate the ever-changing landscape of health care, and implement long-term employee benefit solutions tailored to each clients' needs.