Overview of ACA Changes

ACA Changes The Affordable Care Act (ACA) has brought significant changes to the health care industry. Below are some of the main trends that have resulted from the ACA over the past few years: Employer Coverage Despite initial concerns that many employers would drop health coverage as a result of the ACA, most companies have…

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Penalties Increased for Section 6055 & 6056 Reporting

Penalties Increased for Section 6055 & 6056 Reporting The Affordable Care Act (ACA) created new reporting requirements under Internal Revenue Code (Code) Section 6055 and 6056. These new reporting rules require certain employers to report information to the Internal Revenue Service (IRS) on the health coverage offered during the year. Related statements must also be…

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