• Health Care Reform Update - Treasury and IRS Issue Proposed Rules on Reporting Requirements for Employers and Group Health Plans
  • November 21, 2013
  • Law Firm: Alston Bird LLP - Atlanta Office
  • Proposed rules on two new reporting requirements under the Affordable Care Act (ACA) were published by the Department of Treasury and the Internal Revenue Service (IRS) (collectively, the “Treasury”) on September 9, 2013. These requirements, contained in Internal Revenue Code (the “Code”) Sections 6055 and 6056, are intended to provide information to the Treasury and affected individuals in order to help enforce certain ACA requirements. In particular, the Section 6055 reporting applies generally to persons who provide minimum essential coverage (MEC) to individuals during the year and is primarily intended to help enforce the individual mandate. The Section 6056 requirement applies to “applicable large employers,” meaning those employers who are subject to the ACA pay or play penalties, and is designed as an aid to enforcing those requirements. The Section 6056 reporting will also be used for enforcement of the provisions relating to the premium tax credits.