INSIGHTS ABOUT HEALTH CARE REFORM

MAY 31, 2016  

REMINDER: 1094/1095 Filing Deadline Quickly Approaching
 
While the paper filing deadline for forms 1094/1095 has passed, the e-filing deadline is June 30. It is important to file these forms accurately and on time to avoid costly penalties. The IRS is encouraging employers and/or coverage providers to file the forms as soon as possible.  
 
Form Information
  • Form 1094-C is the transmittal form that Applicable Large Employers (ALE) must use to report offers of health care coverage for their employees. An ALE is an employer with 50 or more full-time equivalent employees.
  • Form 1095-C is the informational form that an ALE must file for each full-time employee. This form will be used for determining whether the offer of coverage, if any, was affordable to the employee.
  • Form 1094-B is the transmittal form for Form 1095-B. These forms are required for individuals/businesses that offer minimum essential coverage to individuals. However, employers that offer a self-insured plan must report their information on Form 1094-C and 1095-C instead of 1094-B or 1095-B unless they are not subject to the employer shared responsibility penalty.
  • Form 1095-A has been filed by the Health Insurance Marketplace, known as the Marketplace. This form was sent to both the individual enrolled in the Marketplace and to the IRS. The due date for sending this form to individuals was January 31, 2016.
Contact your Eide Bailly professional or visit our website at www.eidebailly.com/healthcarereform with questions or for assistance in completing and filing the required forms. 
855.889.5508
eidebailly.com/healthcarereformHealthCareReform@eidebailly.com
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