Employers Mull Comments on Reporting Rules

Employers Mull Comments on Reporting Rules

Our Thinking / Healthcare /

Employers Mull Comments on Reporting Rules
Calendar16 September 2014

Plan sponsor groups are developing comments on recently-proposed IRS forms and draft instructions on ACA's play-or-pay and minimum essential coverage employer reporting requirements. Recent guidance details the data that employers will need to provide on Forms 1094 and 1095 and how to transmit them to the IRS and employees. Employers, insurers, and others will use these forms to report on individuals' plan eligibility and coverage, as well as employees' full-time status. Employers and other health coverage providers should review the instructions, along with the draft forms, to prepare for collecting 2015 data for the first reports due in early 2016.

Some of the open questions to which employers will seek answers in their comments to the Service include how to report plan enrollment for retirees and COBRA beneficiaries and various issues related to available simplified reporting methods and the use of third parties to facilitate filing of the forms.

This week in Congress, the Republican-controlled House plans to pass legislation to change the ACA’s definition of a full-time worker from 30 to 40 hours per week and to repeal the law’s medical device tax. The Senate Democratic leadership is highly unlikely to take up the legislation, however.

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