Nova 401(k) Associates
Compensation Strategies Group, Ltd.
Nicholas Pension Consultants
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|ACA Reporting Requirements for Carriers and Employers (Part 12 of 24): Deconstructing Form 1095-C, Parts II and III|
Oct. 6, 2015
"While the mechanics of the Code Sections 6055 and 6056 reporting scheme mirror the reporting rules for wages and withholding on IRS Forms W-2 and W-3, they are far more complicated. To comply, employers need to access and collate information from a number of disparate sources such as payroll, HRIS, and other employment records. The IRS also has designed Form 1095-C to elicit information needed to enforce the individual mandate and the administration of premium tax credits available to low- and moderate-income individuals through public insurance exchanges, thereby adding to the complexity."
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