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Oct 08

Jessica Rothe

ACA Reporting Support Updates

by Jessica Rothe

Review of Employer Shared Responsibility (1095 or 6056/6066):

Starting in 2016, all employers that are considered an applicable large employer (“ALE”), as defined by the IRS, must report specific employee population and health coverage information based on the prior calendar year. In addition to filing information with the IRS, self-funded ALEs also need to provide 1095-C and 1095-B forms (which can be on a single combined form) to all employees that are eligible for insurance coverage. This form identifies:

  • The employee and the employer.

  • Which months during the year the employee was eligible for coverage.

  • The cost of the cheapest monthly premium the employee could have paid under the Plan.

  • Details about the employee’s actual insurance coverage, including who in the employee’s family was covered.

Reporting Requirements:

The 1095-B and 1095-C forms must be received by employees by January 31, 2016. IRS reporting is due by February 29, 2016 or March 31, 2016 (if filing electronically). Employers with 250 or more forms must file them electronically. Those with fewer than 250 have the option of filing paper forms or filing electronically. Please visit www.irs.gov to view and download a copy forms that must be filed. An in-depth review of the form instructions will likely be necessary to accurately complete the forms.

Disclaimer: The information contained herein is not intended to be legal advice, and while every effort has been made to ensure that the content of this legislative summary is accurate, we makes no representations or warranties in relation to the information provided, and assumes no liability or responsibility for any acts or omissions based on this information. As always, we encourage you to consult with your own legal counsel prior to making any decisions regarding plan design or administration.