Reporting Requirements for Employers and Health Plans

The Affordable Care Act (ACA) created a number of federal reporting requirements for employers and health plans. The additional reporting is intended to promote transparency with respect to health plan coverage and costs. It will also provide the government with information to administer other ACA mandates, such as the large employer shared responsibility penalty and the individual mandate.

This Health Care Reform Legislative Brief brought to you by Clark and Associates of Nevada provides a summary of the following reporting provisions:

  • Form W-2 reporting
  • Applicable large employer health coverage reporting (Code 6056)
  • Reporting of healthy coverage by health insurance issuers and sponsors of self-insured plans (Code 6055)
  • Transparency in coverage reporting and cost-sharing disclosures
  • Quality of care reporting

Read the full Legislative Brief for more information.

Annual Deductible Limit Repealed for Small Health Plans

On April 1, 2014, President Obama signed the Protecting Access to Medicare Act of 2014 (Act) into law. The Act’s main provisions preserve the pay rate for physicians treating Medicare patients and delay the compliance deadline for converting to the updated International Classification of Diseases codes for at least one year. The Act also eliminates the Affordable Care Act’s (ACA) annual deductible limit that applied to health plans in the small group market. This change is retroactively effective to when the ACA was enacted in March 2010.

Quick Facts

  • For 2014 plan years, small group health plans were subject to annual deductible limits.
  • A new law repeals the ACA’s annual deductible limit, effective retroactively.

Read the full Health Care Reform Bulletin brought to you by Clark and Associates of Nevada to learn more about the repeal of annual deductible limit for small health plans.