The IRS reminded employers, insurance providers and other entities that provide coverage under the Affordable Care Act of their reporting obligations under the ACA and the 2016 deadlines for submitting those reports.
The ACA requires an “applicable large employer,” or ALE, which means a company with 50 or more full-time employees or full-time equivalent employees, to provide coverage information to their employees and to the IRS.
Most companies that provide health insurance under the ACA – except for employers that self-insure their coverage – must file Form 1095-B, “Health Coverage,” which identifies the employer, coverage provider and names of covered individuals, and Form 1094-B, the transmittal document that must accompany the 1095-B filing.
If filed on paper, these reports must be put in the mail no later than February 28, 2016. If filing is done electronically, the due date is March 31.
An employer filing 250 or more 1095-B forms is required to use electronic filing, through the ACA Information Returns (AIR) Program.
Employers are also required to furnish a copy of Form 1095-C to each covered individual by January 31 of 2016. Copies of these must be submitted to the IRS by February 28 or March 31, using Form 1094-C as a transmittal document.
ALEs that self-insure their group health plans will report information about coverage of their employees in Part III of Form 1095-C, rather than on Form 1095-B, with transmittal form 1094-C.
For non-employees, self-insured ALEs may use either Form 1095-C or Form 1095-B. Self-insured employers that are not ALEs will use Form 1095-B and the transmittal form 1094-B.
More information about reporting requirements is on the IRS website.
