<img height="1" width="1" style="display:none;" alt="" src="https://dc.ads.linkedin.com/collect/?pid=118459&amp;fmt=gif">
Show all

Do you offer an HRA? What You Need to Know Now About HRAs and ACA 6055/6056 Reporting

As part of the 6055/6056 reporting requirement you may be required to complete forms 1094-C/1095-C or 1094-B/1095-B for those employees with a Health Reimbursement Arrangement (HRA). It can be confusing to determine which employees will require the reporting and which ones will not. The good news is that the IRS says as long as you put forth a “good faith effort” in the first year to file the report, you will likely avoid any penalties. Whew!

The table below is quick resource for school, city and county employers to use to determine which individual employees you will need to report.

HRA benefits that must be included on 1094 and 1095 forms:

<empty>

<empty>

*Retiree-Only HRAs include HRAs where contributions are deposited during active employment or just following retirement. With a Retiree-Only HRA, funds are not accessible until retirement or separation of service.

All National Insurance Services’ HRA clients will receive additional guidance and reporting details from their HRA administrator, MidAmerica Administrative and Retirement Solutions after the end of the calendar year. MidAmerica will be tracking employees who do not have employer-sponsored health coverage as well as those who are not yet eligible for Medicare. In addition, part of the new reporting requirements is collecting dependent census information. Since this information was not required previously, a new enrollment procedure will be implemented to obtain this data moving forward. This is why the IRS is implementing the “good faith effort” to complete reporting as many employers may not readily have this information.

For more information on 6055/6056 reporting guidance, visit our resource page, or contact Beth Lauck, Retirement Income Service Manager at National Insurance Services at 800.627.3660 or MidAmerica at 800.430.7999.

National Insurance Services is not a law firm and no opinion, suggestion, or recommendation of the firm or its employees shall constitute legal advice. Readers are advised to consult with their own attorney for a determination of their legal rights, responsibilities and liabilities, including the interpretation of any statute or regulation, or its application to the readers’ business activities.

President Signs Bill to Halt ACA Small Group Employer Definition Change
November 30, 2015
Why School, City, and County Employers are Moving to Self-Funded Health Insurance Plans
November 30, 2015
Beth Lauck

Beth Lauck

Working at National Insurance Services is a natural fit for Beth Lauck since its core values and dedication to “making local schools and communities better” closely matches her personal values. Her past employment includes over five years as a trial attorney working in the juvenile courts. Having worked in the public sector, she knows first-hand the kind of challenges schools and government agencies face. As Retirement Income Service Manager, Beth oversees the department’s service operations and manages the Retirement Income Account Representatives and Service Coordinator. She also provides technical, administrative and compliance support to customers. Beth is a licensed attorney, licensed Life and Health Insurance agent and a registered representative with Series 6 and 63 licenses. Outside of work, Beth is actively involved in the community. She serves on the board of a local nonprofit assisting homeless families and children, teaches religious education to middle-school youth at her church and serves as a volunteer advocate and pro-bono attorney for families involved in the Milwaukee County child welfare system.