The Affordable Care Act (ACA) requires applicable large employers (those having at least 50 full-time employees) to file information returns regarding the health insurance coverage that they offered with the Internal Revenue Service and to provide statements about their health insurance coverage to their full-time employees. These information returns are used to monitor compliance with the ACA. Due to their crucial role in the administration of the ACA, these new reporting obligations tend to be complex and require considerable attention. Not complying with the new reporting standards will result in penalties and increased risk of audit. For these reasons, it is vital to go to a third-party filing service to help simplify the process of ACA reporting.
We are offering a complete outsourcing solution for 1095-C and 1095-B reporting. For the last 5 years, we have been a leading source for 1099 and other Information Return Forms. Now, we offer the same simplicity and the lowest price in the industry for Affordable Care Act Information Reporting. Our services include the printing and mailing of form 1095-C and 1095-B and e-filing with the IRS using their new XML layouts.
With our services, you do not have to worry about purchasing software or annual renewals. We help businesses focus on their core competency while we take care of their information reporting.
Our service model offers two distinct services. In the web-based self-service model for businesses with a small number of forms – businesses enter or upload their information using our easy to use web site, while we take care of printing, mailing and e-filing from our end. In the outsourcing model, we do all the work. We take your data and upload it into our system from our end, and then we print, mail and e-file. If you have a large number of forms we ask you that you get this process started as early as possible to make sure you have a date reserved for mailing out your forms.
Employers with 50 or more full-time employees (including FTEs – Full-time Equivalent Employees) and all self-insured employers regardless of size must report their healthcare coverage information to their employees and the IRS. Applicable Large Employers (ALE) (those that employ 50 or more full-time employees) are required to report under section 6056.
For more information on ACA Filing requirements, click here.
Reporting is required for calendar years starting with 2015 (reporting for the 2014 calendar year is voluntary). Statements must be provided to full-time employees by February 1st. This deadline begins in 2016 for the first year that the statements are required.