Smart Benefits: IRS Releases Draft Forms for ACA Reporting
Monday, August 04, 2014
The Internal Revenue Service recently release draft forms large employers and those who sponsor self-funded plans will have to file to show their health coverage complies with both the employer and individual mandates under the Affordable Care Act (ACA) – or if they face a penalty.
Starting in 2016 for coverage provided in 2015, the forms, when final, will be used by employers for the new reporting provisions under tax code sections 6055 and 6056.
- Section 6055: health insurers and employers sponsoring self-funded group health plans must annually report whether the group health plan coverage constitutes minimum essential coverage under Health Care Reform using the following forms:
-1095-B Health Coverage, provided to enrollees and members
-1094-B Transmittal of Health Coverage Information Returns, filed with the IRS
- Section 6056: employers must demonstrate they have satisfied the obligation to offer coverage to employees under the “pay or play” rules and furnish information to employees to determine their eligibility for a premium subsidy for coverage purchased through a health insurance exchange with the following forms:
-1095-C Employer-Provided Health Insurance Offer and Coverage, provided to each employee
-1094-C Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Return, filed with the IRS
Mid-size employers with between 50 and 99 full-time employees don’t need to comply with the reporting requirements until the first day of the employer's 2016 plan year.
Expected to be final later in the year, the draft forms were released now to help companies prepare for the new reporting provisions, which will require monthly compilation of data on the employees. The IRS is currently inviting comments on the draft forms here.
Amy Gallagher has over 21 years of healthcare industry experience guiding employers and employees. As Vice President at Cornerstone Group, she advises large employers on all aspects of healthcare reform, benefit solutions, cost-containment strategies and results-driven wellness programs. Amy speaks regularly on a variety of healthcare-related topics, and is often quoted by national publications on the subject matter. Locally, Amy is a member of SHRM-RI, the Rhode Island Business Group on Health, and the Rhode Island Business Healthcare Advisory Council.
Related Slideshow: New England’s Healthiest States 2013
The United Health Foundation recently released its 2013 annual reoprt: America's Health Rankings, which provides a comparative state by state analysis of several health measures to provide a comprehensive perspective of our nation's health issues. See how the New England states rank in the slides below.
Definitions
All Outcomes Rank: Outcomes represent what has already occurred, either through death, disease or missed days due to illness. In America's Health Rankings, outcomes include prevalence of diabetes, number of poor mental or physical health days in last 30 days, health disparity, infant mortality rate, cardiovascular death rate, cancer death rate and premature death. Outcomes account for 25% of the final ranking.
Determinants Rank: Determinants represent those actions that can affect the future health of the population. For clarity, determinants are divided into four groups: Behaviors, Community and Environment, Public and Health Policies, and Clinical Care. These four groups of measures influence the health outcomes of the population in a state, and improving these inputs will improve outcomes over time. Most measures are actually a combination of activities in all four groups.
Diabetes Rank: Based on percent of adults who responded yes to the question "Have you ever been told by a doctor that you have diabetes?" Does not include pre-diabetes or diabetes during pregnancy.
Smoking Rank: Based on percentage of adults who are current smokers (self-report smoking at least 100 cigarettes in their lifetime and currently smoke).
Obesity Rank: Based on percentage of adults who are obese, with a body mass index (BMI) of 30.0 or higher.
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