By ADP
As mentioned in recent editions of Eye on Washington, there has been a flurry of activity regarding the Affordable Care Act (ACA). On March 10, 2014, the Internal Revenue Service (IRS) published long-awaited final regulations regarding employer information reporting concerning health insurance coverage offered under employer-sponsored plans, under Section 6056. This Eye on Washington provides a brief overview of highlights and key elements of this reporting, and noteworthy changes from the proposed regulations.
As background, Applicable Large Employers (ALEs) must file annual returns with the IRS to report the healthcare coverage offered to full-time employees[1] and their dependents. An ALE is an employer that employed (aggregated with members of its controlled group) an average of at least 50 “full-time employees” (including “full-time equivalent employees” (FTEs)) on business days during the preceding calendar year.
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