Section 6056 reporting is the required reporting to the IRS of information relating to offers of health insurance coverage by employers that sponsor group health plans. A statement disclosing information about the offer of coverage must also be furnished to full-time employees. This guide is intended to provide information for employers on the Internal Revenue…
The Affordable Care Act (ACA) created reporting requirements under Code Sections 6055 and 6056. Under these rules, certain employers must provide information to the IRS about the health plan coverage they offer (or do not offer) or provide to their employees. Each reporting entity must annually file all of the following with the IRS: A…
Highlights Final forms and instructions for 2019 reporting under Section 6055 and Section 6056 are now available. These forms and instructions are substantially similar to the 2018 versions. Section 6055 reporting continues to be required, although limited penalty relief is available. SIMA provides employers with a comprehensive guide to Section 6056 reporting. For more information…
A wellness program is an organized program intended to assist employees and family members in making voluntary behavior changes that reduce their health risks and enhance their individual productivity. Wellness programs vary widely in design and may offer opportunities or incentives for improving health and wellness, such as increasing fitness, losing weight, managing chronic health…
According to a RAND survey, approximately half of U.S. employers with 50 or more employees sponsor some type of workplace wellness program. As the issues of rising health care costs and increased absenteeism due to health problems grow, wellness programs are an effective method of improving employee health and morale, decreasing health-related costs for employers.…
As many employees look ahead to retirement, 47% of workers feel somewhat confident that they’ll have enough money saved to retire on time and then live comfortably.1 However, forward-thinking employers have the ability to help their employees work toward a confident and happy retirement. According to the 2018 Retirement Confidence Survey from the Employee Benefit…
Most full-time employees eat at least one or two meals at work each workday. Not only are a significant number of meals eaten in the workplace, but work is also where employees are most susceptible to distracted or stress-related eating. As an employer, you can help your employees make healthy meal and snack choices. Good…
Initiatives for Stress Management Stress is a leading contributor to many health problems, and the workplace can often be a major source of stress. Lowering stress can lower the risk of medical conditions and can help employees feel better on a day-to-day basis. You can implement various activities to help reduce employee stress, which can…
