“Large” employers (those who average at least 50 full time employees, including full time equivalents) will be required to provide Form 1095C for all employees for calendar year 2015. In layman’s terms, think of the 1095C as a W2 for benefits. Copies of the 1095C must be transmitted to IRS under Form 1094C no later than 2/29/16 or 3/31/16 if you file electronically. You must do the calculation to determine if you are a ‘large’ employer; and, if so, begin monthly tracking of full time employees and the coverage offered. Reporting will be based on all 12 months of calendar year 2015. There are alternative reporting methods for certain eligible employers designed to minimize cost and administrative tasks. Generally, these filings will be prepared by your payroll service and/or accountant since they are filed with IRS. Most, if not all, payroll services have geared up for this. Specifically, ADP offers an ‘ACA compliance’ module that handles tracking and reporting. Contact us with questions or to obtain the full Pay or Play 2015 Checklist.
