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EMPLOYER REPORTING on Forms 1095-B and 1095-C Under the Affordable Care Act

What is the first date that these forms must be filed?

The forms must be filed for the for the first time early in 2016 for the 2015 calendar year. As with Form W-2, copies of the forms must be provided to individuals by January 31. The forms must be filed with the IRS by February 28 if reporting on paper or by March 31 if reporting electronically.

Who files Form 1095-B?

If your company sponsors an insured plan, the insurance company is required to file Form 1095-B. If your company’s medical coverage is self-insured, the plan sponsor is required to file Form 1095-B. If a plan sponsor of a self-insured plan is also required to file Form 1095-C, the Form 1095-B and Form 1095-C information can be combined onto one Form 1095-C filing.

What does Form 1095-B report?

Form 1095-B reports the name, address and social security number of all individuals (employees, spouses, dependents and others) who are covered under an employer’s medical plan and the number of months during which the individual had at least one day of coverage.

Who files Form 1095-C?

Sponsors of both self-insured plans and insured plans must file Form 1095-C. Even though the first filing date for this form isn’t until January of 2016, employers may want to take steps by the end of 2014 to set up procedures for gathering the necessary data or to contact their payroll service to determine whether the payroll service will have the capability to provide this reporting

What does Form 1095-C report?

An employer filing Form 1095-C generally reports the number of full time employees for each calendar month and lists coverage information for each full time employee. Streamlined reporting methods are available if employers meet certain coverage standards, such as providing coverage to at least 98% of all employees (full time and part time).

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