ACA Reporting Service
Looking for an ACA reporting service? With our payroll processing service, we handle all paperwork and reporting required by the Affordable Care Act. As a full-service HRO organization, we offer ACA reporting solutions to our clients for no additional charge. Give (903) 463-4000 or email Mike@eagleemployerservices.com for more information!
ACA Year End 1094 and 1095 Reporting
Notice: Read below for important information regarding ACA Year End 1094 and 1095 Reporting:
According to the Affordable Care Act (ACA), if you have at least 50 full-time employees (Including full-time equivalent employees), you are considered an Applicable Large Employer (ALE)*. As such, ACA mandates would require you to offer full-time employees* ACA compliant health care coverage or pay a penalty. You will need to report information to the IRS about the health care coverage offered to your full-time employees using Forms 1094-C and 1095-C. You must also distribute copies of Form 1095-C to your full-time employees, which contains information they may need to report as part of their income tax submission for the 2015 tax year.
The IRS will use the information from 1095-C to administer the Employer Shared Responsibility Provision. The Form also helps the IRS administer the premium tax credits for any employee who qualified and enrolled for coverage at a Health Insurance Marketplace rather than enrolling in your employer plan.
1095-C Explained: Form 1095-C is provided to each full-time employee regardless of eligibility status and whether or not coverage was accepted. This form shows a month-by-month view of what coverage the employer offered. It also lists any safe harbors the employer elected.
- 1094-C Explained: Form 1094-C is an aggregate of all of the 1095’s that were issued to employees. This file is submitted either electronically or via mail and in forms for the federal government.
What does it mean to you?
Beginning in January 2015, all large employers must track the following information:
- Annual wages in order to determine affordability
- Types of employees and corresponding eligibility
- Average hours over standard and initial measurement periods
- Stability and administrative periods for new and current employees
- Hours worked for new hires in both the initial and ongoing measurement period
- Employee IRS classification codes for lines 14 and 16 on form 1095-C
- Full-time equivalent (FTE) counts for form 1094-C
- Employees who waived health care coverage.
As part of our PEO (Payroll & WC) and ASO (Payroll only) services, we do all of this tracking and reporting for our clients. We’ll do the paper pushing, so you can focus on the core functions of your business! To learn more about our program, give us a call at (903) 463-4000.
Reporting due dates:
- January 2016: All full-time employees must receive their 1095-C
- February 2016: 1094-C forms being submitted by mail are due
- March 2016: 1094-C forms being submitted electronically are due. If more than 250 1095-C’s are issued the 1094-C must be sent electronically
How we can help.
Eliminate the fear of IRS fines for ACA compliance. With our payroll services, you’ll have access to our excellent cost savings group health programs. Additionally, as your payroll and insurance service provider, we produce these forms on your behalf. We can help save you time and money by handling the complexities of payroll and HR administration, so that you can focus on the revenue-producing functions of your business.
Learn more about our payroll services by following the link, or give us a call at (903) 463-4000.
ACA Reporting Service