Two New Laws Ease Employer ACA Reporting
Last week, Congress passed the Paperwork Burden Reduction Act and the Employer Reporting Improvement Act (“Act”). Both Acts significantly alter ACA reporting requirements. President Biden is expected to sign both Acts soon. Paperwork Burden Reduction Act This Act modifies provisions under the Patient Protection and Affordable Care Act so that employers and health insurance providers are no longer required to send tax forms to covered individuals showing proof of minimum essential coverage (1095-B and 1095-C tax forms) unless a form is requested. Currently, employers and health insurers that provide minimum essential coverage must report this information for each covered individual to… Read More