Update
Newsletter
by Nick J. Welle
Starting in 2016, Section 6056 of the Internal Revenue Code, which was added by the Health Care Reform Act (HCRA), requires large employers to annually report to the IRS information regarding health coverage offered to full-time employees during the preceding calendar year. Additionally, starting in 2016, large employers must provide individual statements to each full-time employee regarding the type of coverage that was offered to that employee for the preceding calendar year. Thus, in 2016, large employers must submit information to the IRS and provide similar information to all full-time employees concerning coverage offered during the 2015 calendar year. All large employers (defined below) must comply, regardless of whether the employer sponsors a self-insured or fully insured health plan, or if the employer does not offer health coverage to its employees.