ARE YOU READY FOR AFFORDABLE CARE ACT (ACA)?

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Affordable Care Act (ACA) or colloquially Obamacare, is a United States federal statute signed into law by President Barack Obama on March 23, 2010.

Affordable Care Act (ACA) reporting is the single largest expansion of tax information reporting since the W-2. The ACA has three main objectives:

  • Everyone is required to have health care coverage
  • Those with pre-existing conditions cannot be turned down for coverage.
  • Those who cannot afford coverage will receive government-funded financial assistance (tax credits) to pay for their health insurance.


How the ACA Software Addresses the 1095 Filing

Our system is user friendly that you can easily navigate from the workforce module to the Affordable Care Act (ACA) screen.

Aca Screen


Employee Dependent Details
Our System allows the employees to capture the details of their dependents


ACA FORMS FOR ELCTRONIC FILING
Employees can easily navigate through the benefits where they can find Forms 1095-A 1095-B & 1095-C.


PRINTING / E-FILE
You can print the forms to mail or E-File in accordance with IRS Guidelines.


Manual Transmission & Electronic Transmission
Employees have the option to submit their filing manually or electronically.


IRS Issues Forms and Instructions for ACA Reporting

  1. FORM 1095-A Health Insurance Marketplace Statement :-

    Health Insurance Marketplaces furnish this form to:

    • IRS to report certain information about individuals who enroll in a qualified health plan through the Health Insurance Marketplace
    • Individuals to allow them to:
      • take the premium tax credit
      • reconcile the credit on their returns with advance payments of the premium tax credit (advance credit payments)
      • File an accurate tax return.

FORM 1095-A



2. FORM 1095-B - Health Coverage


Form 1095-B are to be provided primarily by insurance companies and report information regarding a taxpayer’s minimum essential coverage.

The Health Coverage forms must include information such as: the origin of the policy, the name, date of birth, tax identification number (TIN) of the policy holder and the corresponding information on the individuals who are also covered under the plan. In addition, months of coverage for each covered individual must be indicated if they were not covered the entire year.

Form 1095-B must be furnished to the individual by January 31. Form 1095-B must be filed by February 28. If filed electronically, the due date is extended to March 31.

FORM 1095-B



3. FORM 1095-C -Employer-Provided Health Insurance Offer and Coverage Insurance:-

Form 1095-C report information on an employee’s minimum essential coverage. This form will be provided primarily by large employers (50 or more full-time employees) and self-funded employers.

The Employer-Provided Health Insurance Offer and Coverage forms must provide the origin of the policy as well as the name, date of birth, tax identification number (TIN) of the policy holder and dependents who are covered under the plan. In addition, months of coverage for each covered individual must be indicated if they were not covered the entire year.

Form 1095-C must be furnished to the individual by January 31. Form 1095-C must filed by February 28. If filed electronically, the due date is extended to March 31.

FORM 1095-C