IRS Proposes Rules for Information Reporting by Employers and Insurers under ACA
September 9, 2022

The IRS has issued proposed regulations to implement the information reporting requirements for insurers and certain employers under the Patient Protection and Affordable Care Act (ACA). The regulatory proposals reflect an ongoing dialogue with representatives of employers, insurers, other reporting entities and individual taxpayers. Code Sec. 6055 requires reporting by insurers, self-insuring employers and other parties that provide health coverage and Code Sec. 6056 requires information reporting by employers that are large enough to be subject to the employer shared responsibility provisions regarding the health coverage they offer their full-time employees. The proposed regulations reflect comments received and an ongoing dialogue with stakeholders, including plan sponsors, many of whom already offer their full-time workforce coverage far exceeding the minimum employer shared responsibility requirements.

Read the full e-alert here.