The IRS has recently released new draft forms for 2015 to help employers report health coverage and compliance with the Affordable Care Art (ACA). The following draft forms are now available for 2015:
Which Draft Form Do I Use?
ACA requires insurers, self-insuring employers, and anyone providing minimum essential health coverage to report that information to the IRS and to their employees using Forms 1094B and 1095B.
Large employers (generally those with 50+ full-time employees or full-time equivalents) are also required to report information to the IRS and to their employees about their compliance with the employer shared responsibility provisions and the health care coverage they offer using Forms 1094C and 1095C.
Important Changes to Draft Form 1095C
This form is largely unchanged from the 2014 version except for one addition: a new field titled "Plan Start Month." This new field is optional for 2015 but starting in 2016, this field will be required. Additionally, 2015 Draft Form 1095C includes a continuation sheet that allows filers to report coverage for more than six individuals.
Want to Learn More?
More information on reporting requirements for providers of minimum essential coverage including self-insured employers are available here. More information about the reporting requirements for large employers subject to "pay or play" is available here.