IRS Releases Draft Instructions for Reporting of Employee Health Coverage under ACA

The Internal Revenue Service has released draft instructions (1095-B) for minimum essential coverage reporting (IRC § 6055) and draft instructions (1095-C) for applicable large employer reporting (IRC § 6056).  Click here to review the draft instructions for 1094-B and 1095-B and click here to review the draft instructions for 1094-C and 1095-C. 

Information Reporting of Minimum Essential Coverage (IRC § 6055) - All employers (not just applicable large employers) and health insurance issuers that provide minimum essential coverage must report information about the type and period of health coverage to IRS as well as to covered individuals.

Information Reporting by Applicable Large Employers (IRC § 6056) - Applicable large employers must file a return with the IRS and furnish a statement to full-time employees about the health care coverage the employer offered to that employee (or, that the employer did not offer).  The instructions permit combined reporting under sections 6055 and 6056 for applicable large employers that sponsor self-funded plans and must report under both sections.