Effective as of 2015, the Affordable Care Act (“ACA”) has placed requirements on employers and insurance providers for filing new informational forms with the IRS and health plan participants.
The new filing requirements will be an add-on to the year-end burden of issuing informational returns. The new informational forms include Forms 1095-B and 1095-C (with their respective forms for transmittal, Forms 1094-B and 1094-C). Beginning in 2016, deadlines for filing the 2015 forms with the IRS will be February 28 or, if electronically filing, March 31. A penalty of up to $200 per form will be charged for failing to provide these statements to recipients.
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