ACA Reporting Tax Form Primer

Posted by BAS - 07 December, 2017

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The IRS has issued revised versions of Forms 1095-B/C and 1094-B/C, along with instructions for completing the forms, for the 2017 tax year. The 1095 series of forms must be furnished to individuals by January 31, 2018. With no delay to the filing date anticipated and the IRS’ confirmation that e-filers will have to indicate compliance with the individual mandate on their tax returns, employers should prepare for the distribution requirements.

The “C” series of forms are used by applicable large employers to report information about covered individuals and offers of coverage to full time employees. The “B” series of forms are used by small employers with self-funded health plans and insurers to report individuals about covered individuals.

  • Applicable Large Employer with Fully Insured Coverage- Employer sends Form 1095-C to its full-time employees and transmits information to the IRS using Form 1094-C. The insurance company sends Form 1095-B to covered individuals.
  • Applicable Large Employer with Self-Insured Coverage- Employer sends Form 1095-C to full-time employees and to covered individuals. Employer transmits information to IRS using Form 1094-C.
  • Small Employer with Fully Insured Coverage- Insurance company takes care of all reporting using Forms 1094-B and 1095-B.
  • Small Employer with Self-Funded Coverage- Employer sends Form 1095-B to covered individuals and transmits information to the IRS using Form 1094-B.

BAS can help employers with their ACA compliance approach. For more information, contact solutions@BASusa.com.

Topics: Health Care Reform (ACA)


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