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New Draft Forms Released for Reporting of Health Coverage Offered to Employees

IRS has released draft versions of Form 1095-B (Health Coverage), Form 1095-C (Employer-Provided Health Insurance Offer and Coverage), Form 1094-B (Transmittal of Health Coverage Information Returns), and Form 1094-C (Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns) that will be used by employers to report to IRS information on the health care coverage that they offer to employees, as required by the Affordable Care Act (ACA). ( IRS Website, 7/2014 )

Form 1095-B and Form 1095-C will be used by providers of minimum essential health coverage that are subject to Code Sec. 6055, which requires health insurance issuers, certain employers, and others that provide minimum essential coverage to individuals to report to IRS information about the type and period of coverage during the calendar year, and furnish related statements to covered individuals.

Form 1094-B and Form 1094-C will be used by employers subject to the Code Sec. 6056 information reporting requirements (generally, employers with at least 50 full-time employees, including full-time equivalent employees). Code Sec. 6056 requires these employers to report to IRS information on the health care coverage (if any) that they have offered to full-time employees during the calendar year, and to furnish related statements to their employees.

For details on the regs concerning the reporting of minimum essential coverage, see Pension and Benefits Week ¶  1  3/10/2014. For details on the regs regarding reporting on health insurance coverage by large employers, see Pension and Benefits Week ¶  2  3/10/2014.

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