An employer with a self-funded or level-funded plan is deemed to be the issuer of the employee’s health insurance policy by the IRS and required to report the Minimum Essential Coverage (MEC) they offered their employees throughout the year. Even though the federal Individual Mandate Penalty has been reduced to zero, the IRS still requires 1094/1095-B reporting. Certain states such as California, District of Columbia, Massachusetts, New Jersey, Rhode Island and Vermont have an individual mandate to have coverage so employers with employees in those states may have additional reporting on the state level.
Join our Compliance Specialist, Corbin Granger, to review the necessary forms for B-reporting and how to complete and submit them to the IRS.
In past years, a self-funded employer filing less than 250 Form 1095-B were permitted to file these forms with the IRS in paper. For the 2024 tax year, an ALE must file Form 1095-B electronically with the IRS if they file at least ten returns (including Forms 1095-B, Forms 1099 and W-2s). Employers that filed in paper in past years should prepare before the webinars to file electronically.
Fully insured employers are not required to report.
The information herein should not be construed as legal or tax advice in any way. This content is provided for informational purposes only. You should seek the advice of your attorney or tax consultant for additional or specific information.