The final deadline for electronic filing 2018 Affordable Care Act (ACA) reports is April 1, 2019. This will be the final deadline for the reporting season.
Per Sections 6055 and 6056 of the Internal Revenue Service Code, certain employers are required to provide information on the health coverage they offer to their employees. This requirement keeps employers in compliance with the Affordable Care Act and the forms are typically updated on an annual basis.
Check out our earlier blog post for more information on how the 2018 final forms differ from the previous version. Click here to read more.
Section 6056 and corresponding forms 1094-C and 1095-C are intended for applicable large employers (ALE) that offer fully insured health plans. If an employer is qualified as an ALE and also offers a self-insured plan, they are to utilize IRS Forms 1094-C and 1095-C.
For non-ALE employers that offer self-insured health plans, Section 6055 and forms 1094-B and 1095-B are used to meet the reporting obligations.
Each reporting employer must file these forms with the IRS annually. Under Sections 6055 and 6056 the employer must specifically file the following:
- Form 1095-B or Form 1095-C: A separate statement for each individual that is provided with minimum essential coverage or each full-time employee. Section 6055 applies to employers that offer minimum essential coverage, while Section 6056 is for applicable large employers with full-time employees.
- A transmittal form for all returns filed in a given calendar year. This is in Form 1094-B or Form 1094-C.
Remember, April 1 is the final deadline for electronic filing of these very important forms.
Employers are expected to comply with a host of reporting and disclosure requirements throughout the year, in connection with their group health plans. It’s a large, but very important task with multiple factors to be considered. We pride ourselves on being experts in these nuances and have an array of helpful solutions for employers.
Click here to learn more about Boon’s compliance expertise.
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