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What Employers Need to Know About ACA Reporting in 2018
by Gregg Kennerly | Published Wednesday, February 7, 2018
There’s a lot of buzz surrounding healthcare these days. A lot is changing, and it’s important to not fall behind on reporting.
Under the Affordable Care Act, applicable large employers (ALEs)—generally those with at least 50 full-time employees, including full-time equivalent employees, in the preceding calendar year—must report certain information to their full-time employees and the Internal Revenue Service (IRS) about the health care coverage they have offered (if any).
With deadlines for 2017 reporting just a few weeks away, ALEs should begin thinking about these five information reporting facts:
- ALEs are required to furnish a Form 1095-C to each of their full-time employees by March 2, 2018.
- ALEs must file Forms 1095-C, accompanied by the transmittal Form 1094-C, with the IRS no later than February 28, 2018 (or April 2, 2018, if filing electronically).
- Self-insured ALEs must also report via Forms 1094-C and 1095-C.
- ALEs that file 250 or more Forms 1095-C must file them electronically.
- ALEs can find a complete list of information reporting resources at the IRS’s Information Center for Applicable Large Employers.
If the current struggle over healthcare is interesting to you, take a look and read my contrary view to the question of repealing the mandate.
Check out our Information Reporting section for more on the information reporting requirements.