With ACA reporting deadlines approaching soon, the IRS has issued draft updates to forms 1094-C and 1095-C which large employers must use to report on certain health plan information to the IRS.
In addition, in conjunction with the DOL and the U.S. Department of Health and Human Services, the CMS posted updated Summary of Benefits and Coverage (“SBC”) and Uniform Glossary of Terms templates. These forms are designed to ensure that consumers have access to clear, consistent and comparable forms that help them understand and evaluate their health insurance choices.
Health plans and issuers that maintain an annual open enrollment period must use the updated templates beginning on the first day of the first open enrollment starting on or after April 1, 2017. For health plans and issuers that do not maintain an annual open enrollment, the updated templates must be used beginning on the first day of the first plan year or policy year beginning on or after April 1, 2017.
To view the SBC template, click here.
To view Form 1094-C draft, click here.
To view Form 1095-C draft, click here.
While Forms 1094-C and 1095-C are still in draft form, if approved, they too will go into effect for 2017.
