IRS proposals out on health-care law info collection
Sept. 9, 2013 – IRS is seeking comments on proposals affecting information reporting requirements of certain large employers and others under the Affordable Care Act, the 2010 health-care reform law, that could involve some streamlining of specific ACA reporting.
One of the proposals, under section 6056 of the act, applies generally to companies with 50 or more full-time employees, including full-time equivalent employees, in the prior year and that offer employer-sponsored health coverage.
IRS is contemplating, among other things:
- elimination of section 6056 employee statements with Form W-2 reporting on offers of employer-sponsored coverage;
- elimination of the need to report if a particular employee is full-time if adequate coverage is offered to all “potentially” full-time employees;
- allowing employers to report the specific cost to an employee of purchasing employer-sponsored coverage only if that cost exceeds a specific dollar amount.
Another proposal out today affects those offering “minimum essential health coverage” – insurers, self-insuring employers and other parties.
Both proposals are in today’s Federal Register; comments on both are due Nov. 8. IRS plans public hearings Nov. 18 on the larger-employer provisions and Nov. 19 addressing the “minimum essential coverage” measures; outlines of hearing topics will be accepted by Nov. 8 for both.
Section 6056 proposal (larger employers)
Section 6055 proposal (self-insured employers, insurers, etc.)
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