Under final Affordable Care Act (ACA) regulations, insured employers with at least 50 full-time employees, including full-time equivalent employees, must file information returns with the IRS to report offers of health insurance made to full-time employees and provide statements to those employees. Key: Small self-insured employers—those with fewer than 50 full-time employees—must also report, even though they’re excluded from the play-or-pay provisions.
The first returns will be filed in 2016, by insured employers with at least 50 employees and all self-insured employers. (79 F.R. 13231, 79 F.R. 13220, 3-10-14)
W-2/1099 rules apply. Payroll managers will feel right at home with most of these reporting requirements. Statements must be provided to full-time employees on new Form 1095-C by Jan. 31; employees may consent separately to receive their copies of Form 1095-C electronically, under the rules that apply to electronic del...(register to read more)