In a previous post, we mentioned that starting in January 2016, all large employers will need to file a new form with the IRS, the 1095-C. A copy of the form will also need to be provided to each employee.
Think of the 1095-C as the “W-2 for health insurance”.
The IRS has released a draft of the new form, which you can see here. Instructions have not been released for the form yet, but the indicator codes that will be used for the monthly status boxes 14 and 16 are included.
This is a draft form, so while the final form may look a little different, this gives us a basic outline of the information that will be required. Keep in mind that although the form will not be printed until January 2016, we recommend that you record the information necessary to complete the form throughout the year.
Datatech’s Human Resource Management software will automate recording the necessary information, print the 1095-C form and create an equivalent electronic file for reporting more than 250 employees (this is the same employee limit for reporting W-2 information electronically rather than on paper).
Would you like to learn more about compliance with the Affordable Care Act and our new Human Resource Management software? You can attend one of two joint presentations sponsored by Datatech and Barkley Insurance & Risk Management. The first presentation will be at the Double Tree Hotel in Bakersfield, CA on August 20th. The second presentation will be at the Fresno Hotel & Conference Center in Fresno on August 21st. Click here to view a flyer for the seminar.
Call Jason Titterington at 1 (800) 833-8824 ext. 116 or email him at jason@datatechag.com to get more information or reserve your space at one of the presentations.