Healthcare Reform Update-Reporting Guidance for Applicable Large Employers

The IRS provides guidance for Applicable Large Employers (ALEs) (generally those with 50 or more full-time equivalent employees) on providing statements to their full-time employees about the health insurance coverage offered by the employer. To prepare for the reporting requirements in 2016, the IRS recommends that ALEs track information each month of 2015, including (1) whether the ALE offered full-time employees and their dependents minimum essential coverage that meets the minimum value requirements and is affordable, and (2) whether the employees enrolled in the self-insured minimum essential coverage offered by the ALE. The first statements to employees must be provided by 1/31/16, and the first information returns to the IRS (Form 1095-C and Form 1094-C must be filed by 2/28/16 (3/31/16, if filed electronically).

About the Author

Reed Tinsley CPA

This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on accounting & tax, practice management, and financial planning. Schedule a Free Consultation.