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As you\u2019re aware, certain employers are required to report information related to their employees\u2019 health coverage. Does your business have to comply, and if so, what must be done?<\/p>\n
Basic rules<\/strong><\/p>\n Certain employers with 50 or more full-time employees (called \u201capplicable large employers\u201d or ALEs) must use Forms 1094-C and 1095-C to report the information about offers of health coverage and enrollment in health coverage for their employees. Specifically, an ALE uses Form 1094-C to report summary information for each employee and to transmit Forms 1095-C to the IRS. A separate Form 1095-C is used to report information about each employee. In addition, Forms 1094-C and 1095-C are used to determine whether an employer owes payments under the employer shared responsibility provisions (sometimes referred to as the \u201cemployer mandate\u201d).<\/p>\n Under the mandate, an employer can be subject to a penalty if it doesn\u2019t offer affordable minimum essential coverage that provides minimum value to substantially all full-time employees and their dependents. Form 1095-C is also used in determining eligibility of employees for premium tax credits.<\/p>\n Information reported<\/strong><\/p>\n On Form 1095-C, ALEs must report the following for each employee who was a full-time employee for any month of the calendar year:<\/p>\n If an ALE offers health coverage through an employer\u2019s self-insured plan, the ALE also must report more information on Form 1095-C. For this purpose, a self-insured plan also includes one that offers some enrollment options as insured arrangements and other options as self-insured.<\/p>\n If an employer provides health coverage in another manner, such as through an insured health plan or a multiemployer health plan, the insurance issuer or the plan sponsor making the coverage available will provide the information about health coverage to enrolled employees. An employer that provides employer-sponsored self-insured health coverage but isn\u2019t subject to the employer mandate, isn\u2019t required to file Forms 1094-C and 1095-C and reports instead on Forms 1094-B and 1095-B for employees who enrolled in the employer-sponsored self-insured health coverage.<\/p>\n On Form 1094-C, an employer can also indicate whether any certifications of eligibility for relief from the employer mandate apply.<\/p>\n Be aware that these reporting requirements may be more complex if your business is a member of an aggregated ALE group or if the coverage is provided through a multiemployer plan.<\/p>\n W-2 reporting <\/strong><\/p>\n Note:<\/em> Employers also report certain information about health coverage on employees\u2019 W-2 forms. But it\u2019s not the same information as what\u2019s reported on 1095-C. The information on either form doesn\u2019t cause excludable employer-provided coverage to become taxable to employees. It\u2019s for informational purposes only.<\/p>\n The above is a simplified explanation of the reporting requirements. Contact us with questions or for assistance in complying with the requirements.<\/p>\n \u00a9 2022<\/em><\/p>\n <\/body> As you\u2019re aware, certain employers are required to report information related to their employees\u2019 health coverage. Does your business have to comply, and if so, what must be done? Basic rules Certain employers with 50 or more full-time employees (called \u201capplicable large employers\u201d or ALEs) must use Forms 1094-C and 1095-C to report the information […]<\/p>\n","protected":false},"author":1,"featured_media":191,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"pagelayer_contact_templates":[],"_pagelayer_content":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ift.tax\/blog\/wp-json\/wp\/v2\/posts\/192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ift.tax\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ift.tax\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ift.tax\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ift.tax\/blog\/wp-json\/wp\/v2\/comments?post=192"}],"version-history":[{"count":1,"href":"https:\/\/ift.tax\/blog\/wp-json\/wp\/v2\/posts\/192\/revisions"}],"predecessor-version":[{"id":193,"href":"https:\/\/ift.tax\/blog\/wp-json\/wp\/v2\/posts\/192\/revisions\/193"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ift.tax\/blog\/wp-json\/wp\/v2\/media\/191"}],"wp:attachment":[{"href":"https:\/\/ift.tax\/blog\/wp-json\/wp\/v2\/media?parent=192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ift.tax\/blog\/wp-json\/wp\/v2\/categories?post=192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ift.tax\/blog\/wp-json\/wp\/v2\/tags?post=192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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