Which ACA Form 1095 Applies to My Business? 1095-B VS. 1095-C
ACA Reporting is a complicated process. The key to getting started is to determine if your business is required to file and then, which form the business is required to file with the IRS.
There are two options here, you can either choose Form 1095-B or 1095-C, here is a guide to help you select the correct form for your organization.
When it comes to Forms 1094-B and 1094-C, you will select this based on which 1095 form you are required to file, as this is simply a summary form.
With the deadline to distribute your employee/recipient copies just a week away, getting started on the process is crucial!
What is Form 1095-B?
Form 1095-B, Health Coverage, is generally used by health insurance coverage providers and health insurance carriers. It is also used by small businesses that have less than 50 employees but offer employer-sponsored self-insured health insurance plans.
This also extends to employers that offer self-insured health coverage to non-employees. These organizations are required by the IRS to file Form 1095-B and distribute copies to their recipients.
When are the Form 1095-B Deadlines?
There are two major deadlines that organizations must consider when
- Recipient Copy Deadline
- The deadline to distribute copies of Form 1095-B to covered employees/individuals is March 02, 2022.
- IRS Filing Deadline
- Form 1095-B and 1094-B must be filed with the IRS by March 31, 2022, when filing electronically.
- If you choose to file a paper form, the due date is February 28, 2022.
What is Form 1095-C?
Form 1095-C, Employer-Provided Health Insurance Offer and Coverage is generally filed by Applicable Large Employers (ALE). These are employers with 50 or more full-time and full-time equivalent employees. These employers are required by the IRS to file Form 1095-C and distribute copies to their employees. Employers must also use ACA codes on lines 14 and 16 of this form to provide information about the individual’s coverage.
When are the Form 1095-C Deadlines?
There are two major deadlines that organizations must consider when
- Recipient Copy Deadline
- The deadline to distribute copies of Form 1095-C to covered employees/individuals is March 02, 2022.
- IRS Filing Deadline
- Form 1095-C and 1094-C must be filed with the IRS by March 31, 2022, if filing electronically.
- If you choose to file a paper form, the due date is February 28, 2022.
ACAwise is your ACA Reporting Solution!
If your organization is required to file and distribute ACA Forms, you’re running out of time to reach out to ACAwise to learn more about the solutions that our team offers.
ACAwise offers solutions catered to your business’s specific needs. Whether you need a solution for e-filing and distributing Forms 1094 and 1095, or a complete solution for generating the codes required for 1095-C, we have you covered. Our team is with you through every step of the process. This includes state filing and a wide range of filing scenarios.
To get started today, reach out to our team at [email protected] or give us a call at 704.954.8420.
