We, at Warren G. Bender Co., realize that the ever-changing world of healthcare can be daunting for most employers. In that spirit, we’re offering an interactive reporting workbook to assist you with the new section 6056 reporting requirements.
The Section 6056 Reporting Workbook can be used to help employers record the information needed to satisfy new reporting requirements added by the Affordable Care Act (ACA), under Internal Revenue Code Section 6056. This new reporting provision requires applicable large employers (ALEs) subject to the ACA’s employer shared responsibility rules to report information to the IRS and to full-time employees about offers of health coverage for their full-time employees. Reporting under Section 6056 is first required in early 2016 for coverage offered (or not offered) in 2015.
Some important notes on 6056 include:
• ALL employers who have 50 or more full time equivalent employees are required to report the IRS 1094 form and provide employees with the 1095 form whether or not they provided a group medical plan to their employees.
o The 50 full time equivalent employees can be fulfilled if an employer has 5 full time employees and 200 part time employees or if they simply have 50 or more full time employees. The hours are totaled and divided by 30 hours per week to determines how many full time equivalent employees the employer has.
• The deadline for submitting the 1095 forms to all full time employees (who worked at least 1 month full time) is 3/31/2016.
• Many employers have these forms integrated with their payroll software, so checking with your payroll software company or vendor is, likely, the best place to start.
Download your own workbook here: Section 6056 Reporting Workbook FINAL
Need help on how to use this workbook? Download the instructional guide: Section 6056 Reporting Workbook Instructional Guide