In 2016, insurance carriers and employers with 50 or more full time and full-time equivalent employees sponsoring group health plans will furnish annual reports to the IRS and employees about the health coverage offered to employees during the prior calendar year.  These reports will be used by the Internal Revenue Service (IRS) to verify that individuals have the required minimum essential coverage, individuals who request premium tax credits are entitled to them, and large employers are meeting their shared responsibility (play or pay) obligations.  It is imperative that employers have the appropriate tracking process in place in 2015.  

Please watch the attached short video which reviews the items employers must track in 2015 for the 2016 ACA reporting.

As always, if you have any questions please do not hesitate to contact us at Compliance@Borislow.com