Affordable Care Act (ACA) Reporting Deadlines Extended

By Chris Pisarkiewicz

The Internal Revenue Service (IRS) announced yesterday, December 28, two Affordable Care Act (ACA) reporting deadlines have been extended. As companies scramble to prepare for the ACA reporting requirements and processes, it’s a relief to many that two of the deadlines have been extended. Employers will now have an additional two months to provide employees eligible for coverage with Forms 1095-B and 1095-C and an extra three months to file the Forms 1094-B, 1095-B, 1094-C and 1095-C with the IRS.

Deadlines Extended

Employee Notification

The deadline for furnishing to individuals the 2015 Form 1095-B, Health Coverage, and the 2015 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, have been extended from February 1, 2016, to March 31, 2016.

Filing by mail?

The deadline for filing the 2015 Form 1094-B, Transmittal of Health Coverage Information Returns, the 2015 Form 1095-B, Health Coverage, the 2015 Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns, and the 2015 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, have been extended from February 29, 2016, to May 31, 2016, if filing by mail.

Filing electronically?

The deadline for filing the 2015 Form 1094-B, Transmittal of Health Coverage Information Returns, the 2015 Form 1095-B, Health Coverage, the 2015 Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns, and the 2015 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, have been extended from March 31, 2016, to June 30, 2016, if filing electronically.

The decision to extend the deadline was made after determining organizations and insurance providers need more time to implement the necessary systems and processes in order to comply with the new ACA regulations. It’s important to note the IRS will be ready to accept filings of Forms 1094-B, 1095-B, 1094-C and 1095-C as early as January of 2016. So, if you are ready to file you can certainly do so.

This deadline extension will give large employers more time to gather and organize the necessary data to ensure ACA compliance. Read more on how PrismHR helps you remain compliant and supports ACA form 1094-C and 1095-C reporting.

Read the complete notice from the Internal Revenue Service here.