Employers must make sure they meet the Affordable Care Act Form 1095-C and 1095-B reporting deadline for the 2023 tax year. The IRS extended by 30 days the January 31 deadline for distributing Forms 1095-B and 1095-C. For the 2023 tax year, this means forms must be furnished by March 1, 2024.
Insurers and small employers with self-funded health plans prepare and distribute Form 1095-B (Health Coverage) to individuals covered under their health plan. Applicable Large Employers (50 or more full-time employees in the prior plan year) prepare and distribute Form 1095-C to their full-time employees and (for employers with self-funded plans) to the individuals covered under their health plan.
All employers should review their ACA compliance requirements and make sure the required ACA reporting forms are furnished to covered individuals/full-time employees by the deadline of March 1, 2024.
For information about BAS’ ACA data collection and reporting services, contact BAS at solutions@BASusa.com.
Benefit Allocation Systems (BAS) provides best-in-class, online solutions for: Employee Benefits Enrollment; COBRA; Flexible Spending Accounts (FSAs); Health Reimbursement Accounts (HRAs); Leave of Absence Premium Billing (LOA); Affordable Care Act Record Keeping, Compliance & IRS Reporting (ACA); Group Insurance Premium Billing; Property & Casualty Premium Billing; and Payroll Integration.
MyEnroll360 can Integrate with any insurance carrier for enrollment eligibility management (e.g., Blue Cross, Blue Shield, Aetna, United Health Care, Kaiser, CIGNA and many others), and integrate with any payroll system for enrollment deduction management (e.g., Workday, ADP, Paylocity, PayCor, UKG, and many others).