Affordable Care Act Employer Reporting Requirements for 2015

As part of the continued roll out of the Affordable Care Act, beginning in 2015 large employers must file Forms 1094-C and 1095-C with the IRS.  A large employer is typically one with 50 or more full-time and full-time equivalent employees.  The information returns are due by February 29, 2016 or March 31, 2016 if filing electronically.

  • Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns

 

  • Form 1095-C, Employer-Provided Health Insurance Offer and Coverage

 

Even though employers with 50 to 99 full-time employers are not subject to the employer mandate for health insurance coverage until 2016, they are still required to comply with the reporting requirements for 2015.  Additional information can be found on IRS.gov.

By |August 18th, 2015|Categories: Business Operations, Business Tax, IRS|Tags: , , , , , , , , , , |Comments Off on Affordable Care Act Employer Reporting Requirements for 2015

Reimbursement of Employee Health Insurance Premiums (Including S Corporation Shareholders)

A little known and very under-publicized change to the insurance tax laws that took place on January 1, 2014, has exposed employers to a potentially heavy excise tax if they reimburse employees for health insurance premiums vs. enrolling in group plans.  This includes employee shareholders.

Employer reimbursements or direct payment of health insurance premiums for individual policies or coverage under a spouse’s policy may be deemed a group health plan subject to the Affordable Care Act’s (ACA) market reforms if they are made for more than 1 employee.  The deemed group health plan would not comply with the ACA’s benefit mandates for group health coverage and would be subject to excise taxes of $100 per day, per employee with no limit.

While the new […]

By |August 18th, 2015|Categories: Business Operations, Business Tax|Tags: , , , , , , , , , , , , |Comments Off on Reimbursement of Employee Health Insurance Premiums (Including S Corporation Shareholders)
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