Employer and Insurer IRS Reporting Forms
Posted on: August 4, 2014Categories: HR & Compliance
The Internal Revenue Service (IRS) has released drafts of the forms for reporting health insurance coverage offered by applicable employers and for reporting minimum essential coverage of self-insured plans by insurers and employers.
Employers are encouraged to report their coverage information in 2015 for the 2014 year although they aren’t required to do this until 2016 reporting for 2015. Employers and insurers of self-insured plans must report every year. They can put employer and individual mandates on one form and report to the IRS and the individuals named in the report. This way the IRS can confirm individuals have followed the individual mandate. Employers with more than fifty full-time employees must report on employer mandate by including all employees offered coverage in the prior year.
There are 2 forms employers and insurers must give the IRS, one that serves as a cover letter and the other providing data on the mandates.
For Employers
- Send Form 1094-C to the IRS only
- Send Form 1095-C to the IRS and named individuals
For Insurers
- Submit Form 1094-B to the IRS only
- Submit Form 1095-B to the IRS and named individuals for insured coverage only
If you are interested in viewing the current drafts of these forms, you can find them online at IRS.gov/draftforms and the finalized forms will be posted later along with instructions for filling them out.
Source: Cigna
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