Stay in Compliance with the Affordable Care Act
GuideStone's Affordable Care Act Overview can help you navigate the law and assure that you are in compliance.
It's important that you keep accurate records regarding all the employees to whom you offered coverage and how you shared the cost of coverage with your employees. This will make it easier to complete your tax reports.
And remember: All employers — regardless of their size — must maintain an accurate, ongoing count of their employees.
To help you comply with the law, GuideStone has created the following resources:
2020 Full-Time Equivalent Employee Calculator
Controlled Group Fact Sheet
Understanding the Affordable Care Act's Assessment Process
Health Plan Information Reporting
Internal Revenue Code Section 6055 and Section 6056 outline your ministry's health plan information reporting requirements.
Section 6055 reporting is required to prove that you provided minimum essential coverage to persons in your health plan. The statements provided to individuals show compliance with the individual shared responsibility requirement. GuideStone, as the plan provider, makes available Form 1095-B to all employees enrolled in the health plans and Form 1094-B to transmit the forms to the IRS. GuideStone will also provide a summary report to employers.
Section 6056 reporting is required of all applicable large employers (ALEs), which are defined as employers with 50 or more full-time equivalent employees. ALEs are required to file Forms 1094-C and 1095-C. These forms require the employer to report information about the employee's salary and cost of health care coverage.
|1095-B Health Coverage
||This form reports the months for which responsible individuals and their dependents were enrolled in minimum essential coverage (MEC) at GuideStone during the reporting period. Participants and dependents will be identified by SSN or DOB and name. Copies of these will accompany Form 1094-B to the IRS.
|1094-B Transmittal of Health Coverage Information Returns
||This form is used to transmit to the IRS copies of 1095-Bs and reports the total number of 1095-Bs included in the batch.
|1095-C Employer-Provided Health Insurance Offer and Coverage
||Applicable Large Employer (ALE)
||Employees of ALEs
||This form reports to an ALE's employees offers of coverage made by the employer, the employee's share of the lowest cost monthly premium for self-only minimum value coverage. It will include the employer's contact information and EIN. This form assists participants with their tax reporting. Copies of these will accompany Form 1094-C to the IRS.
|1094-C Transmittal of Employer-Provided Health Insurance Offer and Coverage Returns
||This form is used to transmit to the IRS copies of 1095-Cs and reports the total number of 1095-Cs included in the batch.
|ACA Covered Persons Report
||This summary information, found in the Employer Access Program (EAP), will provide employers a list of the months of coverage for employees and dependents enrolled in a MEC plan at GuideStone during the reporting period. This summary is for informational purposes only but may be useful to ALEs fulfilling their reporting responsibilities.
Information reporting resources:
Health Plan ACA Reporting Requirements
Visit our Health Care Reform Page for many more resources.