December 21, 2016  

ACA Reporting for 2016: Deadlines and Details

 

As we near the year end, employers, health insurers, and individuals once again need to prepare for filing their 1094 and 1095 forms with the IRS. The purpose of these forms is to verify that medical health coverage requirements are being met. Here’s what you need to know to assist your clients with this requirement:

Deadlines for the 2016 tax year

  • 1095-C forms (from applicable employers) are due to employees by March 2, 2017.
  • 1094-C summary transmittal (from applicable employers) must be filed with the IRS by:
    • February 28, 2017 if filing manually.
    • March 31, 2017, if filing electronically. (Employers filing more than 250 statements must file electronically.)
  • 1095-B forms (from the insurer) are due to subscribers by March 2, 2017. Note: Again this year, as a service to our members, PacificSource plans to send these statements by the end of January.

Important details

  • We’ve updated our ACA Reporting Requirements Guide to reflect the new dates.
  • Again this year, PacificSource will provide our large, self-funded employer groups with a data assistance report to help them complete their form. Please see page two of the ACA Reporting Requirements Guide for more details.
  • Our next Benefit Matters employer newsletter, mailing in January, will include an article about the forms and requirements.
  • Our next Member Newsletter, also scheduled to mail in January, will include an article about the form. We’ve also set up a dedicated toll-free number for them to call with questions, which will be printed on their form.
  • The IRS has a helpful web page called ACA Information Center for Applicable Large Employers (ALEs)
  • Employers are encouraged to consult with their own legal and tax advisors for advice specific to their business.  

 

2BKR 12212016

 

 

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Questions? You’re Always Welcome to Contact Us

PacificSource Health Plans:

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Liz Manley, Sales Representative, 541.225.2777 or toll-free 800.422.7038, ext. 2777


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