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Reese Henry & Co
Employers that offer health insurance to employees may be required to report certain information to the IRS and employees. The requirements imposed by the Affordable Care Act are complex and based on factors such as the number of employees you have and the type of insurance you offer. To quickly determine if you have a filing requirement, we suggest contacting your insurance agent about your particular plan. A summary of the filing requirements and deadlines follows. Should you have any questions or concerns, please do not hesitate to contact us.
Filing Requirements - Employers
The filing requirements hinge on two factual determinations:
  1. Whether the employer is considered an Applicable Large Employer (“ALE”) or small group. An ALE is anyone that employs 50 or more full time employees (including full time equivalents). A small group is anyone that employs less than 50 full time employees (including full time equivalents).
  2. Whether the employer has fully-insured or self-funded insurance coverage.
Applicable Large Employers:
  1. If the insurance plan is considered fully-insured or self-funded, the employer is required to file Form 1095-C with the IRS and furnish the form to each covered employee.
Small Group:
  1. If the insurance plan is considered fully-insured, the employer has no filing requirement. The health insurance company providing coverage will file a Form 1095-B with the IRS and furnish the form to each covered employee.
  2. If the insurance plan is considered self-funded, the employer is required to file Form 1095-B with the IRS and furnish the form to each covered employee.
Filing Deadlines & Penalties - Employers
The extended due date for furnishing forms to employees is March 31, 2016. The extended due date for furnishing forms to the IRS is May 31, 2016 if paper filing and June 30, 2016 if electronically filing. Penalties are $250 per form up to a maximum of $6,000,000. Penalties will not be assessed for the 2015 calendar year if the reporting entity can show that it made a good faith effort to comply with the information reporting requirements.
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Reese Henry & Company
Phone: 970.925.3771  |  Email: Info@ReeseHenry.com

Aspen Office:
400 East main Street Aspen, CO 81611

Carbondale Office:
0326 Hwy. 133, Suite 200 Carbondale, CO 81623

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