As a reminder, individuals who are not exempt must have minimum essential coverage. They must report this to the Internal Revenue Service (IRS) when they file their taxes. If they don’t report coverage, they may have to pay a fee to the IRS. To show the IRS that they had coverage, the insurance companies are sending affected individuals Form 1095-B to file with their 2015 taxes.
An article with information about the required employer coverage reporting under IRS section 6055 will appear in the December fully insured subscriber edition of the Benefits Awareness Newsletter. It will be sent to all subscribers enrolled in a fully-insured plan.
The article will make subscribers aware of:
- IRS section 6055 reporting requirement that begins in 2016 (for the 2015 reporting year)
- general information about the Form 1095-B distribution in 2016