Tips for 1095s and ACA Reporting

Feb 18, 2020, 2:28 PM

(from Bolton & Company) It's time to file 1094/1095Cs. Here are some tips to make the process go smoothly:

Don't worry about small clerical errors; the IRS is forgiving of those. But do worry about substantial ones, like failing to offer a qualified health plan.
Most companies don’t need to detail who was enrolled in their group health plan the prior year in their 1095C reporting.
For most employers, most of each 1095C will be blank.
If an employee was newly hired — or fired — during the prior year, their 1095C will be only slightly more complicated.
Only certain employers have to include health insurance costs on their W-2s.
For fully-insured groups, 1095C form filing only gets complicated if you’re not following best practices.