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Wednesday, November 23, 2016

Form 1095-B Information Requirements

We’ve been talking about Form 1095-C for a while, so why don’t we switch gears and talk a bit about the other ACA Form that’s due in the next couple months: Form 1095-B.

Form 1095-B
Form 1095-B, Health Coverage, is one of the forms created by the Affordable Care Act and the IRS for reporting coverage. Anyone who provides minimum essential coverage to individuals during the calendar year must file a Form 1095-B to report the coverage offered. Of course, this is anyone providing coverage who is not an Applicable Large Employer (ALE), because, as we all know, they file on Form 1095-C.

As with Form 1095-C, a copy of Form 1095-B should be filed with the IRS and a copy should be sent to the individual who received the offer of coverage.

Information Needed for Form 1095-B
So before you dive into working on Form 1095-B, make sure you have the following information:
  • Part I: Responsible Individual. For each recipient of an offer of coverage, you’ll need to have their
  • Part II: Employer-Sponsored Coverage. If you provided employer-sponsored coverage, use Part II to enter information about the sponsoring employer. You’ll need to have their
    • Name,
    • Employer Identification Number (EIN), and
    • Address.
  • Part III: Issuer or Other Coverage Provider. Part III provides information about the coverage provider. For this section, you’ll need the provider’s
    • Name,
    • EIN,
    • Address, and
    • Contact number.
      • Keep in mind that this phone number should be that of someone who can answer questions regarding the coverage information reported.
  • Part IV: Covered Individuals. If your coverage offer extends to the recipient’s spouse and/or dependent(s), you’ll need the following information on them:
    • Name,
    • SSN,
    • Date of birth (if their SSN is unavailable), and
    • The months they were covered.

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