Smart Benefits: Year-End ACA Tax Tip for Employers
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Monday, November 09, 2015
Rob Calise, GoLocalWorcester Business/Health Expert
By January 31, employers with 50 or more full-time employees in 2015 must file Form
1095-C, Employer-Provided Health Insurance Offer and Coverage, for each employee to report information about the health coverage offered, and the employee’s enrollment in it.
Employers who offered employer-sponsored self-insured coverage must also file Form 1095-C to report information about individuals with minimum essential coverage under the employer plan who are, therefore, not responsible for the individual shared responsibility payment during the months they had coverage.
In addition to filing Form 1095-C with the IRS, employers must provide a copy of the form to each of its full-time employees so they have the information they may need for their income tax submission for 2015. Employers will meet the requirement to furnish Form 1095-C to an employee if:
• The form is properly addressed and mailed or hand delivered on or before the due date. If the due date is a Saturday, Sunday, or legal holiday, employers may file by the next business day.
• The Form 1095-C only includes the last four digits of the employee’s social security number, not the entire number.
• The forms are in paper form unless employees consent to receiving the statement electronically.
To avoid confusion, give employees a head’s up before the end of the year that they’ll be receiving a Form 1095-C from you – and why.
Rob Calise is the Managing Director, Employee Benefits. of Cornerstone|Gencorp , where he helps clients control the costs of employee benefits by focusing on consumer driven strategies and on how to best utilize the tax savings tools the government provides. Rob serves as Chairman of the Board of United Benefit Advisors, and is a board member of the Blue Cross & Blue Shield of RI Broker Advisory Board, United HealthCare of New England Broker Advisory Board and Rhode Island Business Healthcare Advisors Council. He is also a member of the National Association of Health Underwriters (NAHU), American Health Insurance Association (AHIA) and the Employers Council on Flexible Compensation (ECFC), as well as various human resource associations. Rob is a graduate of Bryant University with a BS in Finance.
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