The federal government has extended the February 1 deadline for employers to provide eligibility and other information to workers under federal health care reform. The extension is good news for employers struggling to implement the complex reporting regulations of the Affordable Care Act (ACA).
The Internal Revenue Service announced on December 28 that it will extend by two months the deadline by which employers must provide detailed form 1095-C to each employee who had an offer of insurance in 2015 or worked 130 hours in any month during 2015. Employers now have until March 31, 2016 to file forms 1095-B (self-insured plans) or 1095-C to employees.
Filings to the IRS have also been extended by three months. Whereas employers had to transmit their information to the IRS by February 28 (March 31 if filing electronically), employers now have until May 31 to file with the IRS (June 30 if filing electronically).
Under ACA regulations, the 1095-C form requires extensive review of multiple factors such as prior year W-2 earnings, enrollment or waiver of health insurance, eligibility periods and pay rates and hours worked annually and month to month for each employee on the employer’s payroll.
The IRS had previously allowed employers to request two 30-day extensions of the filing deadlines before extending the deadlines for everyone.
The revised filing deadlines are outlined below.