Things just got a little better with the extended deadline for 2018 ACA health coverage.
The IRS has extended the original January 31 deadline to Monday, March 4, 2019, for insurers, self-insuring employers, large employers, and other coverage providers to file Form 1095-B or Form 1095-C to the individuals in which they cover.
These forms are statements provided to covered individuals and are used to determine whether they will claim the premium tax credit on their returns. As the provider, it is extremely important that these forms are filed and distributed on time.
Although the ACA health coverage reporting deadline has been extended, the due dates for filing 2018 information returns is April 1st. Because of these differing deadlines, individuals may not receive their Form 1095-B or 1095-C by the time they are ready to file their 2018 income tax return.
File Online & On Time With TaxBandits
With the filing deadline extended, there’s no need to worry about filing late. Filing both Form 1095-B and 1095-C, along with transmittal Form 1094-B and 1094-C, is extremely easy when you file with TaxBandits! Here’s some insight on what each form is used for:
Form 1095-B is used to report certain information regarding minimum essential health insurance coverage to the IRS and individuals. This form is typically issued by insurance providers, including insurance companies, self-insured employers, employers with fewer than 50 full-time employees, and other agencies that provide health insurance coverage.
Form 1095-C is the annual statement that applicable large employers (ALEs) use to report to the IRS about the insurance offered to its large number of full-time employees.
Transmittal Forms 1094-B and 1094-C
There are two types of transmittal forms that accompany Form 1095-B or 1095-C.
Form 1094-B is the transmittal form that accompanies Form 1095-B when filing with the IRS each year. Together, Forms 1094-B and 1095-B are used to report the type of coverage offered by health care providers to individuals and verify an individual and any dependents that received at least minimum qualifying health insurance coverage from the provider during the calendar year.
Form 1094-C is the transmittal form that accompanies Form 1095-C when filing with the IRS each year. Together, Forms 1094-C and 1095-C are used to provide information to the IRS regarding health insurance coverage offered to your full-time employees and that status of individual employee’s enrollment. Form 1094-C is only sent to the IRS, not to employees.
New ACA Deadline Dates
There are three important deadlines that apply for all of the Forms we’ve discussed today:
- March 4th – Due to Recipient
- February 28th – Paper file with the IRS
- April 1st – E-file with the IRS
We’ll Help You Along The Way
Easily meet these deadlines by filing your appropriate forms with TaxBandits. We also provide assistance with filing and answer any questions you may have. Reach out to our amazing, US-based TaxBandits support team Monday – Friday from 9 AM to 6 PM EST at 704.684.4751. You can also reach us via live chat, or take advantage of our 24/7 email support at support@TaxBandits.com.
Updated: February 6, 2019
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