Annual IRS reporting is required for certain health plans and employer sizes. Some carriers handle this reporting on behalf of the employer/client or some partially help prepare and furnish the data needed. Some carriers do not do anything to assist with this process, and, ultimately, it’s the employer’s responsibility to make sure this process is done properly.
Your broker’s job is to educate and provide the necessary resources. CuatroBenefits LLC is in your corner to help walk you through the requirements and how best to tackle this each year. Read more here from the IRS.
Which employers?
- Section 6055 applies to providers of minimum essential coverage (MEC), such as health insurance issuers and employers with self-insured health plans. These entities generally use Forms 1094-Band 1095-B to report information about the coverage they provided during the previous year.
- Section 6056 applies to ALEs—generally, those employers with 50 or more full-time employees, including full-time equivalents, in the previous year. ALEs use Forms 1094-Cand 1095-C to report information relating to the health coverage that they offer (or do not offer) to their full-time employees.
Employers reporting under both Sections 6055 and 6056—specifically, ALEs with self-insured plans—use a combined reporting method by filing Forms 1094-C and 1095-C.
Important Dates
Feb. 28, 2023
This is the deadline for 2022 filing with the IRS in paper form.
March 2, 2023
This is the deadline for furnishing 2022 Forms 1095-B and 1095-C to individuals.
March 31, 2023
This is the deadline for 2022 filing with the IRS electronically.
For employers looking to outsource this reporting:
ACA Compliance Solution Services are experts in the 1094/1095-C compliance field. They provide white glove services from beginning to the end for you and your clients. Take the stress off you and your clients by working with one of the leading compliance companies in America.
Call us today at 877-959-3953 or Click Here to get the process started.