PAYDAY Workforce Solutions Blog

IRS Releases Draft Forms for Health Coverage Information Reporting by Employers

On Jul 29, 2014

The IRS has just released a draft of Forms 1094-C and 1095-C. Both of these forms are required to meet reporting requirements under the IRC sections 6055 and 6056 that were previously released on March 5, 2014.

Form 1095-C (Employer-Provided Health Insurance Offer and Coverage) is to be issued to each employee of an employer that is considered a large business. A large business is defined as a business that has 50 or more FTE’s (Full Time Equivalents). The Form 1095-C will be required to have information on each employee’s coverage. In addition, the Form must also list every single person receiving health insurance under the employee and indicate each specific month the individual received coverage.

Though the government has put a “stay” on Employer Shared Responsibility penalties for employers with 50-99 FTE’s until 2016, all “large employers” are still required to file Forms 1094-C and 1095-C beginning in 2015. The IRS plans to penalize large employers that do not provide and file Forms 1094 and 1095 under the same provisions as W-2 and W-3 penalties.


Aside from the Form 1095-C required for each employee, the employer is also required to file Form 1094-C, which is the cover page to, and includes totals and information from, the 1095-C. Similar to Forms W-2 and W-3, if an employer has 250 or more Form 1095-C’s, they will be required to file all forms electronically.


Are you prepared to completely fill out one of these forms for each and every one of your employees? Contact PAYDAY today and we can give you peace of mind by taking care of all of this for you.



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