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Affordable Care Act Reporting Reminder: First Employee Statements Due by End of March

Affordable Care Act Reporting Reminder from CBG Benefits: First Employee Statements Due by End of MarchAs a reminder, an important deadline regarding the Affordable Care Act (ACA) is right around the corner. Employers that are subject to the ACA’s information reporting requirements must furnish the first statements for the 2015 calendar year to employees on or before March 31, 2016.

For many employers, this primarily means distributing the Form 1095-C document by the end of this month.

Does your firm need help producing these Forms? Does it need help explaining to employees why they are receiving them and how they should use them? If so, please contact the CBG Benefits team today at 781-759-1222, or send an email to info@CBGBenefits.com.

Below is a brief overview of this compliance requirement:

ACA Information Reporting Requirements

The ACA requires applicable large employers (ALEs) — generally those with 50 or more full-time employees, including full-time equivalents — to report information to the IRS and to their employees about their compliance with the “pay or play” provisions and the health care coverage they have offered, using Form 1094-C and Form 1095-C.

In addition, employers that provide self-insured coverage but are not considered an applicable large employer must also comply with ACA reporting requirements.

Compliance Deadlines

The deadlines for calendar year 2015 are as follows:

  • Employers must furnish employee statements (Form 1095-C) to employees no later than March 31, 2016. Employers must also send the Form 1094-C document and all Form 1095-C documents to the IRS no later than May 31, 2016 (or June 30, 2016 if filing electronically).
  • Applicable large employers with fully insured plans must furnish the Form 1095-C to each employee who was a full-time employee for any month of the calendar year (and who was not in a limited non-penalty period).
  • Applicable large employers with self-insured plans must furnish the Form 1095-C to any employee who enrolls in the health coverage, whether or not the employee was a full-time employee for any month of the calendar year.
  • Small employers that provide self-insured covered and that are not considered ALEs must furnish statements (Form 1095-B) to covered individuals no later than March 31, 2016. In addition, they must send the Form 1094-B document and the Form 1095-B documents to the IRS no later than May 31, 2016 (or June 30, 2016 if filing electronically).

I hope that you find this reminder helpful. If you have any questions, please give us a call at 781-759-1222. In addition, I encourage you to download our “2015 ACA Checklist: Completing IRS Forms 1094-C & 1095-C.”

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