Beginning in 2015, Applicable Large Employers are required to file a new informational return – 1095-C, Employer-Provided Health Insurance Offer and Coverage. One of these informational returns must be provided to each full-time employee and filed with the IRS, along with a Form 1094-C transmittal form, by the due dates listed below.
An Applicable Large Employer is an employer with 50 or more full-time employees, including full-time equivalent employees. Applicable Large Employers are required to report information to full-time employees and the IRS about the coverage they offered or did not offer to their full-time employees. It is important to understand that Applicable Large Employers are required to file the 1094-C and 1095-C forms Regardless of whether or not they offered their full-time employees insurance, even if they were exempt from the insurance mandate for 2015 because they employed fewer than 100 full-time and full-time equivalent employees.
The purpose of the new form is twofold:
- to provide the IRS with information it needs to determine if the employee is eligible for the Premium Tax Credit, and
- to provide the IRS information it needs to determine the employer’s health coverage excise tax (the penalty for not offering affordable care to its full-time employees), if any.
All employers need to complete parts I and II of the 1095-C for each full-time employee. Self-insured employers must also complete part III, which is the information that would be included on a Form 1095-B issued to the employer’s employees by group health insurance companies when the employer is not self-insured.
Due Dates:
- Form 1095-C to employees: March 31
- 1095-C and 1094-C filed with the IRS:
- Paper filed: May 31
- E-filed: June 30
Note: If the employer files 250 or more 1095-Cs, the forms must be electronically filed.
If you need additional information related to this filing requirement or assistance with filing these forms, contact the experts at Henssler Financial:
- Experts Request Form
- Email: experts@henssler.com
- Phone: 770-429-9166