2016 tax year reporting requirements for your self-funded Aetna Funding Advantage clients
Last year, The Affordable Care Act (ACA) added Sections 6055 and 6056 to the Internal Revenue Code, which contain new reporting requirements for insurers, self-funded plan sponsors, applicable large employers and others.
Due to these requirements, your self-funded clients are responsible for this reporting under Sections 6055 and 6056:
- Forms 1094B and 1095B must be completed by Small Group employers. Employers with less than 50 full-time employees (including full-time equivalent employees) in the previous year are considered a Small Group. They can refer to the instructions for more information and assistance with completing the forms.
- Forms 1094C and 1095C must be completed by Large Group employers. Employers with 50 or more full-time employees (including full-time equivalent employees) in the previous year are considered a Large Group. They can refer to the instructions for more information and assistance with completing the forms.
- All self-funded plan sponsors must provide the 1095B or 1095C statement to all subscribers and full-time employees covered by their plan.
Be aware of important deadlines to file required information and forms
- If filing on paper, plan sponsors must file their 6055 and 6056 requirements/forms to the IRS no later than February 28th.
- If filing electronically, they are due to the IRS no later than March 31st.
- Plan sponsors must also send subscribers and full-time employees their statement by March 2nd.
Refer to these links for additional information
The links below can help answer additional questions your clients may have about the reporting requirements, the forms that need to be completed, and more.
https://www.irs.gov/affordable-care-act/individuals-and-families/self-insured-employers-must-file-health-coverage-information-returns
https://www.irs.gov/affordable-care-act/employers
Any information provided by Aetna, related to these requirements, should not be considered to be legal, tax advice or compliance guidance.
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