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“6055” and “6056” refer to the Internal Revenue Code Sections that give the Affordable Care Act (ACA) its teeth. Section 6055 relates to enforcement of the individual mandate, while Section 6056 relates to enforcement of the employer shared responsibility provisions of the law.
Compliance data will be transmitted via Forms 1094 and 1095. In a nutshell – Form 1094 is a transmittal designed to summarize the detailed Forms 1095 that accompany the transmittal. Think of them the same way you think of W-3s and W-2s that you generate each year. The 1094 and 1095 reports are due the same time as W-3s and W-2s, so there’s a natural connection!
The “A”, “B” and “C” extension for each form tells us who is responsible to file them:
- Form A will be filed by government entities such as public exchanges (i.e., Covered California)
- Form B will be filed by health insurers (like Anthem or Blue Shield) and self-funded employers
- Form C will be filed by all Applicable Large Employers
Meaning that most affected employers will only need to concern themselves with Forms 1094-C and 1095-C.
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