Archive for IRS’ Category

IRS Proposes New Section 6055 Reporting Requirements for Self-Insured Employers
Sep

8

2016

IRS Proposes New Section 6055 Reporting Requirements for Self-Insured Employers

Employers with self-insured health plans are facing new Section 6055 regulations regarding the reporting of minimum essential coverage. The proposed regulation requires self-insured employers to report this information to the IRS on either Form 1095-B or in Part III of Form 1095-C, if the coverage is provided by an applicable large employer.Section 6055 reporting identifies those individuals who are enrolled in minimum essential coverage. In order…

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Aug

12

2016

Reporting Minimum Essential Coverage

Minimum essential coverage (MEC) is the type of coverage that an individual must have under the Patient Protection and Affordable Care Act (ACA). Employers that are subject to the ACA’s shared responsibility provisions (often called “play or pay”) must offer MEC coverage that is affordable and provides minimum value.In the fall of 2015 the IRS issued Notice 2015-68 stating it was planning to propose regulations…

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How to Complete the IRS/SSA/CMS Data Match Report
Jul

29

2016

How to Complete the IRS/SSA/CMS Data Match Report

By Danielle Capilla Chief Compliance Officer at United Benefit AdvisorsData Match is a program coordinated by the Internal Revenue Service (IRS), Centers for Medicare & Medicaid Services (CMS), and the Social Security Administration (SSA) to identify Medicare beneficiaries who received Medicare benefits with Medicare as the primary payer when Medicare should have been the secondary payer. We recently covered background on this program in a…

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IRS-SSA-CMS Data Match Program Information
Jul

13

2016

IRS-SSA-CMS Data Match Program Information

Beginning in early 2016, many employers received letters from the IRS-SSA-CMS Data Match Program. These letters are addressed to the employer and begin by stating that “Medicare needs your cooperation.” Employers are directed to report information on the IRS/SSA/CMS Data Match Secure Web Site, and the data being requested is often extensive. The reporting is separate and unique from reporting required of applicable large employers…

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What Employers Need to Know about the IRS-SSA-CMS Data Match Program
Jun

16

2016

What Employers Need to Know about the IRS-SSA-CMS Data Match Program

By Danielle Capilla Chief Compliance Officer at United Benefit AdvisorsBeginning in early 2016, many employers received letters from the IRS-SSA-CMS Data Match program. These letters are addressed to the employer and begin by stating that “Medicare needs your cooperation.” Employers are directed to report information on the IRS/SSA/CMS Data Match Secure Web Site (https://www.cob.cms.hhs.gov/DataMatch/). The data being requested is often extensive, and can cover a…

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