Across the country municipal government, cities, towns and school districts are beginning to learn their responsibilities for Affordable Care Act (ACA) reporting to the IRS under Internal Revenue Code 6055 and 6056. We speak to these municipal groups every day, and this often is a complete shock to them. What do you mean I have a self funded plan?
For municipal groups and school districts under the state health plan in their given state, they are being notified that they are actually on a self funded plan. The reason for this is the manner in which the states generally arrange these plans and file with their department of insurance. Since these plans are self funded, they have very specific reporting requirements under the ACA. The largest shock for these groups is that the states are not performing the reporting on their behalf, but rather it is the responsibility of each individual municipality, school district and other governmental entity.
Due to these facts, it is imperative that these organizations understand what their requirements are, preferably in a simple and easy manner. To assist with the learning curve, we have recorded a free webinar that can be accessed on demand. The goal of this webinar is to tell you only what you need to know, and to do this in less than 45 minutes. The feedback for this session has been excellent, so we hope you find it helpful. Simply press play below to get started.
Session Overview Notes:
- Overall Presentation 40 minutes (the last 10 minutes covered most frequently asked questions)
- Session was a quick (non-attorney) overview of ACA Reporting
- What did the Affordable Care Act Accomplish?
- Individual mandate to have health insurance (IRS 6055)
- Employer pay or play rules (IRS 6056)
- How will the IRS ensure individual and employer compliance?
- What are employers options when it comes to ACA Reporting