Revisions to the ACA – What you should know (Part 2)

The Affordable Care Act (ACA) 2015 reporting requirements deadlines have been extended. In January 2016, the IRS began to accept these reports and does not intend to implement any further extensions.

Employers and insurers will be subject to IRS penalties, if they do not meet the newly extended deadlines, as follows:

• Forms 1095B & 1095C: March 31, 2016 (sent to individuals)

• Forms 1094B, 1095B, 1094C & 1095C (filed with the IRS via):

• Paper – May 31, 2016

• Electronic – June 30, 2016

It is important to ensure that you remain educated and stay compliant with the revised regulations. The ACA is not the only area where an employer may need assistance; employee benefits is often more complex than just receiving the best rate. It is important to partner with a trusted broker or agent who will accurately insure your overall risk and provide compliance education.

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