Key Forms and Reports 

Key Forms and Reports 

 

Forms 1095-B and 1095-C 

Form 1095-B: Insurers and other providers of minimum essential coverage use this form to report information about individuals covered by the plan. 

Form 1095-C: Applicable Large Employers (ALEs) use this form to report information about the health insurance coverage offered to their full-time employees. 

 

Forms 1094-B and 1094-C 

Form 1094-B: This is the transmittal form that accompanies Form 1095-B when filing with the IRS. 

Form 1094-C: This is the transmittal form that accompanies Form 1095-C when filing with the IRS. 

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Reporting Requirements 

For Insurers and Other Providers of Minimum Essential Coverage (MEC) 

 

They must file Form 1095-B to report coverage information for each covered individual. 

They must also file Form 1094-B as the transmittal form. 

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For Applicable Large Employers (ALEs) 

 

ALEs must determine the number of full-time equivalent employees and whether they are required to offer Minimum Essential Coverage to these employees. Any employer with 50 or more Full-Time Equivalent employees must report for the ACA.   

 

What is a full-time equivalent employee?

• Full-time hours: An employee who works 30 hours or more per week is considered full-time 

 

How to determine your FTE count 

• Calculate the total number of hours worked by all employees to include part-time, full-time, interns, and union employees for the year (including terminated employees).

• Divide the total number of hours worked by all employees by 30.

• If that number is above 50, you must report on all of your full-time employees who work 30 hours or more. 

 

They must file Form 1095-C for each full-time employee, indicating whether an offer of coverage was made, the type of coverage offered, and the cost of the lowest premium. 

Form 1094-C must be submitted as the transmittal form. 

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Deadlines 

 

Form 1095-B/C to Employees: Typically, these forms must be provided to employees by March 1st of the following year. 

 

Form 1094-B/C and 1095-B/C to IRS: 

Filing electronically, the deadline is typically by the end of March. 

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Penalties 

Failure to comply with ACA reporting requirements can result in significant penalties. Penalties can be imposed for failure to file the correct information returns by the due date, failure to furnish the correct information returns to individuals, and for filing incorrect or incomplete information. 

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Conclusion 

ACA reporting is a critical compliance requirement for employers and insurers. A proper understanding of the forms, deadlines, and filing methods ensures compliance and helps avoid penalties. Regular updates from the IRS should be monitored to stay compliant with any new changes or updates in the reporting process.