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Q

Who prepares ACA reporting forms for our medical plan?

A

Employers with 50 or more employees last year must distribute and file a Form 1095-C for each full-time employee. This form reports offers of affordable medical coverage to assist the IRS in assessing employer penalties under the ACA mandate. Employees with Marketplace coverage can use it to assess their eligibility for a tax credit.

Employees also need proof that they had medical coverage to avoid federal income tax penalties. Self-insured plans must include on the Form 1095-C the names and social security numbers of covered individuals. If your plan is fully-insured, the carrier will distribute the Form 1095-B with this information to covered employees and the IRS.

Your payroll or specialty reporting vendor may provide form preparation and filing services for a fee.

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