Final Regulations Issued Regarding Employer Reporting Requirements Under ACA

Recently issued final regulations on the employer reporting requirements under the Affordable Care Act (ACA) clarify and streamline the process for reporting information relating to the provision of minimum essential coverage and health insurance coverage offered under employer-sponsored plans.  The reporting requirements are intended to help the Internal Revenue Service enforce the individual and employer shared responsibility requirements under the ACA and to administer premium tax subsidies for exchange coverage.  Most significantly, the final regulations permit an employer to satisfy its reporting obligations using a combined single form.

The U.S. Department of the Treasury (Treasury) issued final regulations on March 10, 2014, regarding the reporting requirements under Sections 6055 and 6056 of the Internal Revenue Code of 1986 (Code) (hereafter, the Reporting Requirements).  The Reporting Requirements originally were intended to take effect on January 1, 2014,