Reporting Requirements

The Affordable Care Act (ACA) imposes new reporting requirements on employers.

Reporting Requirements

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The Affordable Care Act imposes the following new reporting requirements on employers:

W-2 Reporting on the Cost of Employer-Sponsored Health Coverage

Effective for taxable years beginning after 2012, employers must report the total cost of employer-sponsored group health coverage on Form W-2.  This reporting is for informational purposes only and the amount reported is not taxable.

Information Reporting on Minimum Essential Coverage

Internal Revenue Code (IRC) section 6055 requires health insurance issuers, employers providing self-insured group health coverage and others that provide minimum essential coverage to report on the type and period of coverage.  This reporting is designed to assist the Internal Revenue Service (IRS) with enforcing the Individual Mandate.

Information Reporting by Applicable Large Employers

IRC section 6056 requires each Applicable Large Employer subject to the Employer Mandate to report on their employer-sponsored coverage and to whom it is offered.  This reporting is designed to assist the IRS with enforcing the Employer Mandate and with facilitating the administration of the premium tax credit.

 

 

Additional Information
W-2 Reporting on the Cost of Employer-Sponsored Health Coverage
Information Reporting on Minimum Essential Coverage
Information Reporting by Applicable Large Employers