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2015 Affordable Care Act Alert

Beginning in 2015, employers with 50 or more full time (or full time equivalent) employees may be subject to a penalty if you do not offer health coverage or the coverage is deemed unaffordable and does not provide minimum value.

In 2015, All Employers With 50 Or More Employees Need To Track:

  • Annual wages in order to determine affordability.

  • Types of employees and corresponding eligibility.

  • Average hours over standard and initial measurement periods.

  • Stability and administrative periods for new and current employees.

  • Hours worked for new hires in both the initial and ongoing measurement period.

  • Employee IRS classification codes for lines 14 and 16 on form 1095-C.

  • Full-time equivalent (FTE) counts for form 1094-C.

  • Employees who waived health care coverage.

By starting to track this information now, you will be prepared to file these forms on time.

Required IRS Forms:

IRS code Section 6056, requires employers with 50 or more full-time employees to report whether they offered "minimum essential coverage" to their full-time employees and dependents, and if coverage was offered, what the employee's share of the lowest cost monthly premium for self-only coverage was, using the following forms:

  • Form 1095-C Employer-Provided Health Insurance Offer and Coverage - This form is used to indicate offers of coverage and employee's premium share information for each month of the previous calendar year. Each primary insured person must be provided a copy of Form 1095-C with his or her pertinent information.

  • 1094-C Transmittal of Employer-Sponsored Health Insurance Offer and Coverage Information Returns - Use this form as an accompanying transmittal form with Forms 1095-C. Form 1094-C also requests additional information regarding other members of the reporting employer's controlled group.

Key Dates In 2016:

  • January 2016 - All full-time employees must receive their 1095-C

  • February 2016 - 1094-C forms being submitted by mail are due.

  • March 2016 - 1094-C forms being submitted electronically are due. If more than 250 1095-Cs are issued the 1094-C must be sent electronically.

For help during this process, feel free to contact us.

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