What information is reported?
The information reported to the IRS will be the Offer of Coverage, and the Provided Coverage. The forms will vary, dependent on the type of employer and the type of coverage:
- 1095-B Insurers and self-funded plans will provide one to each enrollee. The form provides information on the coverage provided.
- 1094-B Transmittal form insurers and self-funded plans will file with IRS along with all the Forms 1095-B
- 1095-C Large employers will provide one to each enrollee. The form provides information on the coverage provided, and on to whom and when the coverage was offered.
- 1094-C Transmittal form insurers and self-funded plans will file with IRS along with all the Forms 1095-C
Employers (your customers) need to be tracking all of the data they will need to report in January on a monthly basis, at an employee level. This includes:
- Total employee count & Full time employee count
- Employee ID, name, and address
- Employee share of the monthly premium (for lowest-cost self-only minimum coverage)
- Months the employee was enrolled in employer coverage
- Affordability safe harbor information
- If self-insured, information about covered individuals in plan