Prepare Employees for New Form 1095-C

The new ACA regulations require that applicable large employers issue a 1095-C to all eligible employees. Since this reporting requirement is new for 2015, there are some new process considerations to take into account to ensure that your employees are well informed, while also making sure you can gather data to help with compliance.

At BoomTax, we’ve identified 3 key topics to discuss with your employees in the coming weeks.

New Form 1095-C Employee Discussion Topics

  1. Plan ahead. If the employer provides coverage that meets the ACA guidelines and an employee signs up for health insurance via an exchange like the HealthCare Marketplace, they may need to pay back any advanced premium tax credit received.
  2. Gather information. If the employer is self-insured, employees need to be prepared to provide information for all covered individuals on their plan. This information includes the name and SSN (or date of birth) for all covered individuals.
  3. Look for the new form. The 1095-C is a new form for tax year 2015 that employees will receive between January and the end of March. This form is not required in order for employees to complete their personal taxes. A 1095-A may be required for an employee to complete their taxes, but this is provided by the government when applicable.

By educating your employees regarding the new form 1095-C ahead of time, you can speed up your data collection process while also preventing a lot of support questions regarding the new forms.

BoomTax, The Boom Post, and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors prior to engaging in any transaction.

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2 thoughts on “Prepare Employees for New Form 1095-C”

  1. Is it compulsory to test all the scenario of AATS before going to start Live production file submission for 1095 C ?

    • Hi,

      Yes, you must pass all of the tests for the type of form you plan on supporting (1095-B and/or 1095-C) in order to file on the production system. This is a pretty cumbersome process, and we can handle this for you, so you won’t need to pass AATS testing in order to submit production filings.

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