Everything employers need to know about 2019 ACA Reporting

With 2019 in the books, now is the time to focus on 2019 ACA Reporting for the IRS. As it stands, the ACA remains intact for 2019 as it relates to employers. So, what does that mean for you as an employer?

It means that under the ACA 6055 Minimum Essential Coverage: Individual Mandate and the ACA 6056 Applicable Large Employer: Employer Mandate, all employers are required to report their employees insurance coverage to the IRS. And depending on the number of employees on your payroll and whether they are covered under an employer sponsored plan or whether they are self-insured, the forms required will vary. 

But don't worry, we've listed everything you need to know below to help you avoid costly fines from the IRS.

Here’s what you need to know:

1. Which Forms do you need?
   1. B Forms - Used by health insurance carriers/small employers with self-insured health plans/multiemployer plans to report individuals who had Minimum Essential Coverage during the Calendar Year
      • 1094-B—Transmittal Form—cover page of all 1095-B forms submitted to the IRS
      • 1095-B—Identifies a specific individual’s (& covered dependent’s) health coverage
   2. C Forms - Used by Applicable Large Employers to report offers of coverage to full-time employees to satisfy the Employer Mandate and to report Minimum Essential Coverage for self-insured plans
      • 1094-C—Transmittal Form—cover page of all 1095-C forms submitted to the IRS
      • 1095-C—Identifies each full-time employee, information regarding the offer of cover-age, & information on those covered by a self-insured plan
2. When are the Deadlines?
   1. Employers to Employees
      • Insured, under 50 Full-Time Employees
        • No Employer Action required: Carrier provides 1095-B to covered individuals by March 2, 2020
      • Self-insured, under 50 Full-Time Employees
        • Provide 1095-B forms (except part II) to covered individuals by March 2, 2020
      • Insured (or no coverage), 50+ Full-Time Employees
        • Provide 1095-C forms (parts I & II) to all Full-Time Employees by March 2, 2020
      • Self-insured, 50+ Full-Time Employees
        • Provide 1095-C forms (all parts) to all Full-Time Employees & covered individuals by March 2, 2020
   2. Employer to IRS
      • Insured, under 50 Full-Time Employees
        • No Employer Action required (Carrier's obligation)
      • Self-insured, under 50 Full-Time Employees
        • 1094-B & 1095-Bs to be submitted by February 28, 2020 (paper) or March 31, 2020 (electronic)
      • Insured (or no coverage), 50+ Full-Time Employees
        • 1094-C & 1095-Cs to be submitted by February 28, 2020 (paper) or March 31, 2020 (electronic)
      • Self-insured, 50+ Full-Time Employees
        • 1094-C & 1095-Cs to be submitted by February 28, 2020 (paper) or March 31, 2020 (electronic)

Questions or comments? Email us at benefits@thebeacongrp.com or call 610.265.4012