IRS Releases Drafts of 3 ACA Forms for Employers

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Draft versions of three Affordable Care Act forms that employers are to use for tax year 2015 were released June 16 by the Internal Revenue Service. The draft forms, posted on the IRS website, are: Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, which employers subject to ACA employer requirements provide to employees and the IRS on health insurance coverage they have offered; Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns, a transmittal document for Form 1095-C; and Form 1095-B, Health Coverage, which employers not subject to the employer mandate that sponsor self-insured group health plans report to the IRS information about the coverage they have provided to employees. When fully implemented in 2016, the employer requirements would require companies with at least 50 full-time equivalent employees to provide affordable health-care coverage that meets minimum value standards or face possible penalties.