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New IRS Q&As on ACA Reporting by Large Employers: Guidance Addresses Forms 1094-C and 1095-C

New IRS Q&As on ACA Reporting by Large Employers: Guidance Addresses Forms 1094-C and 1095-CUnder the Affordable Care Act, applicable large employers (generally those with 50 or more full-time employees, including full-time equivalents) will be required to report information to the IRS and to their employees about their compliance with “pay or play” rules and the health care coverage they have offered.

For many employers, this reporting will be done via Form 1094-C and Form 1095-C.

The IRS recently released new Q&As to provide additional information for large employers that will need to meet these reporting requirements. Specifically, the Q&As address how large employers should:

  • Report whether an offer of coverage was made to an employee for a calendar month, including months in which employees are hired or terminated
  • Enter applicable safe harbor codes (if applicable)
  • Report enrollment information for self-insured coverage provided to non-employees
  • Complete Form 1094-C and 1095-C if they are eligible to use the qualifying offer method, qualifying offer method transition relief, or the 98% offer method
  • Report offers of COBRA continuation coverage

Click here to view the new Q&A’s regarding ACA Reporting >>

Additional Support

I hope that you find this update, along with the information in the Q&As, helpful as you seek to understand and meet your compliance requirements. If you have any questions, please contact the CBG Benefits team at 781-759-1222.

In addition, I encourage you to download our “Health Care Reform: 2015 Checklist For Completing IRS Forms 1094-C & 1095-C“.

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Posted in: Benefits and Insurance, Human Resources, Legislation

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