Applicable Large Employers (ALEs) who provide group health insurance are required to capture, prepare, and file IRS forms 1095-C and 1094-C in early 2016, reporting on the health plan coverage employees were offered during 2015. The IRS estimates it will take preparers 12 minutes to complete each 1095-C form per employee and four hours to complete form 1094-C. Self-insured and ALEs are responsible for preparing and filing these forms.
ALEs can use a third-party administrator, such as their payroll provider, to complete these filings. If you want to engage a third-party administrator to assist with your filing obligations, do it soon, since many organizations are seeking outside reporting assistance.
MSEC’s vendor partner, Paylocity, recently announced ACA Enhanced, a new tool that can be used for these filings. ACA Enhanced is available to all Paylocity clients and does not require Paylocity’s Time & Labor or Benefits Administration system to work.
ACA Enhanced provides the following:
- Automated, ongoing 1095-C & 1094-C form capture
- Electronic filing of 1095-C & 1094-C forms
- Ability to make and track offer of coverage
- Advanced dashboards, reports, and alerts
For more information, click here.
Non-ALEs with an insured plan should check with their carrier on filing the required reports. Non-ALEs with a partially self-insured plan must file reports using forms 1095-B and 1094-B. See MSEC’s Healthcare Learning Zone for more information.