IRS Extends Due Date for Health Coverage Forms

On November 18, 2016, the IRS extended the 2017 due date for providing 2016 health coverage information forms to individuals. Insurers, self-insuring employers, other coverage providers, and applicable large employers now have until March 2, 2017 to provide Forms 1095-B or 1095-C to individuals. This is a 30-day extension from the original due date of January 31.

The Affordable Care Act requires insurers, self-insured employers and “large employers” (generally, those with 50 or more full-time equivalent employees) to provide information annually on the health insurance they provide. Any coverage provider must report minimum essential coverage offered to any individual on Form 1095-B. Employees can use the information on this form to report any qualifying health coverage they had to avoid the individual shared responsibility payment.

Applicable large employers must use Forms 1094-C and 1095-C to report information about offers and enrollments of health coverage for their employees. Form 1094-C goes to the IRS and contains summary information. Form 1095-C also goes to the IRS and is used to report information about each employee’s coverage to the IRS and to the employee.

Following consultations with stakeholders, the Department of the Treasury and the IRS determined that a substantial number of employers, insurers and other providers of minimum essential coverage needed additional time to gather and analyze information and prepare the 2016 Forms 1095 B and 1095 C for individuals. The IRS did not extend the due date for filing with the IRS the 2016 Forms 1094-B, 1095-B, 1094-C, or 1095-C. These deadlines remains February 28, 2017, if not filing electronically, or March 31, 2017, if filing electronically.

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This update is for general informational purposes only. While we have attempted to provide current, accurate and clearly expressed information, this information is provided “ as is ” and GCG makes no representations or warranties regarding its accuracy or completeness. The information provided should not be construed as legal or tax advice or as a recommendation of any kind. Users should seek professional advice from their own attorneys and tax and benefit plan advisors with respect to their individual circumstances and needs.

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