The healthcare coverage information reporting deadlines are approaching for applicable large employers. All applicable large employers are subject to the Patient Protection and Affordable Care Act’s (P.L. 111-148) reporting requirements, including, government, Tribal, tax-exempt and for-profit employers. An applicable large employer is an employer with 50 or more full-time employees, including full-time equivalent employees. The reporting requirements apply whether or not the employer offered healthcare coverage to its employees.
An applicable large employer must file information returns with the IRS and provide statements about available health coverage to each employee who was a full-time employee for at least one month of the year. The employer must use Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, to report the required information to employees and to report information about each employee to the IRS. Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Return, must be used to report summary information for each employer and to transmit Forms 1095-C to the IRS.
Forms 1095-C must be provided to employees by February 1, 2016. Forms 1094-C and 1095-C are due to the IRS by February 29, 2016, if filing on paper, or March 31, 2016, if filing electronically. (2015ARD 234-5, December 8, 2015.)
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