The Affordable Care Act: Copies Of Form 1095-C.

The Affordable Care Act added new reporting requirements, many of which employers are sometimes still unsure of.

The IRS uses the information in your reports to help administer several of the ACA’s provisions, such as whether employees are eligible for subsidies or if the coverage provided meets the minimum requirements. This is why it’s important to report.

What do you need to report and how should you report it? While the ACA has added more requirements, the necessary information is relatively easy to report.
Two New Requirements
The ACA’s provisions added two new reporting requirements for employers. Under Code § 6056, applicable large employers (ALEs) must provide a statement detailing their health insurance offer to each full-time employee. Code § 6055

Form 1095-C is intended for employers to use to satisfy either of the two reporting requirements introduced by the ACA.

Copies of Form 1095-C provided to employees must also be sent to the IRS. Form 1094-C is intended for this transmittal, and employers must use it to send their Forms 1095-C. The transmittal form requires aggregated data in addition to that supplied on Form 1095-C.

Form 1095-C has three parts. Part I identifies the employer and employee. Part II relays information about the employer’s group health coverage, and Part III reports information about any self-funded health coverage the employer has. This section includes the name of the enrollee and his or her Social Security number. The names and Social Security numbers of an employee’s dependents are also included, if covered.

The level of detail will depend on the coverage required. All Forms 1095-C will include some basic information, such as the employee’s name, Social Security number, and address. Employer information, including name, Employer Identification Number, address, and telephone contact, are also included.
Who Needs to