Understanding ACA Form 1095-B

When we talk about the information returns associated with Affordable Care Act, we tend to get hung up on Form 1095-C. It makes sense: Form 1095-C is the form Applicable Large Employers file and they’re the “insurance providers” going through the most changes thanks to the ACA. (And “most change” tends to mean “most attention.”)

That’s why we’re taking this post to talk exclusively about Form 1095-B!

Purpose of the Form
Form 1095-B, Health Coverage, is used to report information to the IRS and taxpayers about the minimum essential coverage of health insurance provided by the filer.

And in case you need a reminder: minimum essential coverage (or MEC) is the least amount of coverage legally required for taxpayers to have each year. While it’s the individual taxpayer’s responsibility to make sure they have coverage that meets MEC, it’s also the responsibility of insurance providers to offer MEC plans as set by the ACA.

Who Needs to File Form 1095-B
Generally, every person that provides MEC to individuals during the calendar year must file Form 1095-B to report the coverage. This does exclude certain employers (ALEs) and government employers who are subject to the employer shared responsibility provisions and therefore must file Form 1095-C.

In other words, health insurance issuers and carriers for most health insurance coverage, including individual market coverage and insured coverage sponsored by employers, as well as small employers need to file Form 1095-B for each covered individual each year.

When to File
If you need to file Form 1095-B with the IRS, you must do so at the beginning of the year following the year you offered coverage. And how you plan to file determines when you’ll need to file.

If you’re sending in paper copies to the IRS, you must submit Form 1095-B, along with its transmittal form, Form 1094-B, by February 28 (or 29). If you plan to e-file, you have until March 31. Keep in mind that if your due date ends up falling on a weekend or legal holiday, the deadline is automatically extended to the next business day.

And speaking of “automatically extended,” you can get an automatic 30-day extension of time to file your 1095-B forms if you file Form 8809 with the IRS by your original deadline.

And How to File
The more traditional way to file your ACA return is to mail it in each year. While the IRS recommends everyone e-file, you really only have to if you have more than 250 forms to file. So if you’re planning for traditional, mail Form 1094-B and your 1095-B forms by your deadline to:

• Department of the Treasury, Internal Revenue Service Center, Austin, TX 73301
• If your principal business is in: Alabama, Arizona, Arkansas, Connecticut, Delaware, Florida, Georgia, Kentucky, Louisiana, Maine, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, Texas, Vermont, Virginia, or West Virginia
• Department of the Treasury, Internal Revenue Service Center, Kansas City, MO 64999
• If your principal business is in: Alaska, California, Colorado, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Maryland, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, North Dakota, Oklahoma, Oregon, South Carolina, South Dakota, Tennessee, Utah, Washington, Washington, D.C., Wisconsin, or Wyoming

Of course, if you’re looking for a faster, easier, more secure way to file, then you should e-file with ExpressACAForms! With ExpressACAForms, you don’t have to fill out each individual form by hand before mailing it in, which can leave you susceptible to human error and at the mercy of the postal system. Instead, just upload the the ACA information you have using our bulk upload spreadsheet or one of your own, review the forms our program creates for you, and securely e-file them directly with the IRS.

If you have any other questions regarding Form 1095-B or e-filing your ACA return, give us a call! We’re always happy to help. We’re available at (704) 839-2270 and through live chat on our website Monday through Friday, 9:00 a.m. to 6:00 p.m ET and we offer 24/7 customer assistance via email at support@ExpressACAForms.com!

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More on the Affordable Care Act

As often as we’ve talked about the IRS ACA Forms 1095-B and 1095-C, we haven’t gone too in depth on the actual Affordable Care Act itself. So while we can’t go super in depth on the legislature in just one post (there’s a lot - the condensed version is 1000 pages long), we can give you a quick overview of how the Act has affected America’s healthcare laws.

In a sentence, the ACA was written to attempt to reform the healthcare system by providing more Americans with affordable, quality health insurance and by curbing the growth in healthcare spending. Keep in mind, though, that healthcare reform doesn’t begin and end with the Act itself. In most cases, the law gives power to ongoing efforts by Health and Human Services and other government programs to reform health care.

Under the Affordable Care Act:

• All Americans with health insurance are privy to new benefits, rights, and protections which ensure that they get treatment when they need it.
• Insurance is more affordable. By reducing premium and out-of-pocket costs for millions of families and small business owners, over 32 million Americans who couldn’t afford health care before now can.
• Risk is spread equally to end insurance discrimination. This means you can no longer be charged more based on gender, health status, or age.
• A new competitive health insurance marketplace was set up, giving Americans access to group buying power. This also allows Americans to compare plans and receive cost assistance.
• The budget and economy are put on a more stable path. By cutting government overspending and reining in waste, fraud, and abuse in the healthcare industry, it’s predicted the deficit will be reduced by more than $100 billion over the next ten years, and more than $1 trillion over the second decade.

Nothing in the ACA forces any American to have healthcare or to drop their current healthcare plan, assuming that plan complies with the ACA.

For a more information on the Act, check out this post from Obamacare Facts that goes into each Title of the ACA in more detail. Or, you can read the Act itself, but it’s not exactly light reading.

And for more information on e-filing your ACA forms, give us a call! We’re available by phone (704-839-2270) and live chat Monday through Friday, 9 a.m. to 6 p.m. EST. We also offer 24/7 email support at support@expressirsforms.com.

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ExpressACAForms: The Features

At ExpressACAForms, we’ve worked hard to create the best program for e-filing your Affordable Care Act forms. After all, this is the first time anyone’s filing these forms, and you only get one time to make a first impression, right?

Part of what makes ExpressACAForms such a user-friendly program are all of the great features we’ve included to help you e-file with unprecedented ease. Allow us to take this blog post to tell you a little more about some of those features…

Cloud-Based Filing
At ExpressACAForms, our program is entirely cloud-based, which means there’s no need to download any software or forms. You can access your account and information anywhere you have access to an internet connection, through your desktop, tablet, or phone. But don’t think that means we’re any less safe - we’ve taken every precaution to make sure your information is secure and shared only with the IRS.

Bulk Uploading
Got a lot of recipients? Already have all of your recipients’ information in a spreadsheet? You really don’t wanna enter your information individually? Don’t worry, we’ve got you covered. When it comes time to enter your recipients into your forms, you’ll have the option to bulk upload all of their information at once. Use your own spreadsheet, or download the template we’ve made available.

Postal Mail
Before you start printing forms and stuffing envelopes one by one, why not use ExpressACAForms’s postal mail feature? For a small postal fee, you can have your recipient forms mailed for you by a member of our attentive support team.

Help Text and Videos
In the program, we’ve included a Help Text section to explain the ins and outs of the ACA forms. This text updates as you make your way through the forms so all the information you need is at your fingertips. We’ve also created a series of videos to help clear up any confusion you may have as you begin filing. You can check them out on our Youtube channel!

Customer Support
When we say we’re here for you, we mean it. At ExpressACAForms, we don’t just want to help you file your forms, we want to help you understand them. If you have any questions or need help along the way, give us a call. Or a live chat. Or an email. Our phone (704-839-2270) and chat support is available live Monday through Friday from 9 a.m. to 6 p.m. EST; and email support is available 24/7 at support@expressirsforms.com.

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2015 Filing Is Almost Here!

Since we’re sure you’ve got other things on your mind this week, we’ll keep this post short, sweet, and to the point: filing for the 2015 tax year is almost upon us, and ExpressACAForms is here to help! After you read this blog, feel free to take a break from thinking about your taxes for this week; you’ve earned it. But, for now, take our crash course on preparing yourself for the new Affordable Care Act forms due this coming tax season.

Who?
Anyone who provided at least the minimum essential coverage of health insurance to individuals during any month of the year 2015. This means insurance issuers and carriers, most employers, and designated government program sponsors.

What?
Form 1094-B or 1094-C and Form 1095-B or 1095-C. Insurance issuers and carriers, small employers, and government program sponsors will file Forms 1094-B and 1095-B to report information on the coverage they provided each recipient. Applicable Large Employers (ALEs with 50 or more full-time employees) file Forms 1094-C and 1095-C to report their health care coverage details.

When?
You’ll need to get the copies of your forms to your recipients by February 1, 2016. Normally, these forms are due January 31, but in 2016 that day falls on a Sunday. If you paper file your forms with the IRS, you’ll need to send them in by February 29, 2016; and if you choose to e-file, your forms need to be transmitted to the IRS by March 31, 2016.

Where?
At ExpressACAForms.com, of course! It’s the easiest and quickest way to file your ACA forms. And if you need any help on the way, you’ve got access to the best customer service in the biz: we’re available by phone (704-839-2270) and live chat Monday through Friday from 9 a.m. to 6 p.m. EST, and offer 24/7 email support at support@expressirsforms.com.

So go celebrate the holidays; we’ll see you when it’s time to file!

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