New ACA Employer Reporting Requirements Effective Now

Beginning in 2015, the Affordable Care Act (ACA) enacted two reporting requirements that call for employers to file additional forms with the Internal Revenue Service. The reporting requirements are satisfied by filing Forms 1095-B and 1095-C, along with the respective transmittal Forms 1094.

Under the ACA, Applicable Large Employers (ALEs) will have to file Forms 1094-C and 1095-C to provide information to the IRS and plan participants regarding their healthcare benefits for the previous year. In addition, organizations that expect to file Forms 1094 and 1095 electronically can peruse two final IRS publications setting out specifications for using the new ACA Information Returns system.

Keep in mind that ALEs are employers with 50 or more full-time employees or the equivalent. And even ALEs exempt from the ACA’s shared-responsibility (“play or pay”) provision for 2015 (that is, ALEs with 50 to 99 full-timers or the equivalent who meet certain eligibility requirements) are still subject to the information reporting requirements in relation to their 2015 healthcare benefits.

Small employers and ALEs have different requirements. Learn more about the forms, reporting requirements for health insurance issuers, small employers and ALEs, and the reporting penalties. Please contact us for assistance in navigating the ACA’s complex requirements for properly reporting benefits and avoiding penalties.