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What Employers Need to Know About ACA Reporting in 2018

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There’s a lot of buzz surrounding healthcare these days. A lot is changing, and it’s important to not fall behind on reporting.

Under the Affordable Care Act, applicable large employers (ALEs)—generally those with at least 50 full-time employees, including full-time equivalent employees, in the preceding calendar year—must report certain information to their full-time employees and the Internal Revenue Service (IRS) about the health care coverage they have offered (if any).

With deadlines for 2017 reporting just a few weeks away, ALEs should begin thinking about these five information reporting facts:

  1. ALEs are required to furnish a Form 1095-C to each of their full-time employees by March 2, 2018.
  2. ALEs must file Forms 1095-C, accompanied by the transmittal Form 1094-Cwith the IRS no later than February 28, 2018 (or April 2, 2018, if filing electronically).
  3. Self-insured ALEs must also report via Forms 1094-C and 1095-C.
  4. ALEs that file 250 or more Forms 1095-C must file them electronically.
  5. ALEs can find a complete list of information reporting resources at the IRS’s Information Center for Applicable Large Employers.

If the current struggle over healthcare is interesting to you, take a look and read my contrary view to the question of repealing the mandate.

Check out our Information Reporting section for more on the information reporting requirements.

In his career, Gregg has developed specialized expertise in “consumer-driven” and high deductible health plans with HSA and HRA strategies, and sold the first HSA plans issued in Virginia through Assurant Health. He is an expert in analyzing plan design data and has served as account executive for national accounts such as Coca-Cola Enterprises and Tenet HealthCare. Gregg utilizes a strategic approach to establish goals based on each client’s unique culture and competitive environment, and measuring results against jointly established criteria. Gregg Kennerly is a Principal at Advanced Benefit Strategies of Virginia, LLC.
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