The Affordable Care Act (ACA) created mandatory reporting requirements for employers to disclose information about group health plan coverage to both plan participants and the IRS using Forms 1094 and 1095. The Form 1095-B/Cs must be prepared and electronically filed with the IRS by March 31st of each year.
Employers are no longer required to automatically distribute the Forms 1095-B/Cs to employees unless requested. Click here to access information we previously provided on this subject. Click here for the most up to date sample notice that employers can use to notify employees of this change.
How Bim Group Can Help
Bim Group is dedicated to assisting clients in minimizing administrative burdens associated with the increased compliance obligations. We have partnered with a local compliance company, JBC Pros, to offer clients an ACA reporting solution at a preferred rate. JBC Pros was founded by Lauren Johnson, a benefit compliance expert with more than 25 years of technical experience and Bim Group’s Compliance Consultant. JBC Pros offers a comprehensive ACA reporting solution that includes flexible and secure data collection, code generation for Forms 1094 and 1095, electronic filing with the IRS and mailing of individual Forms 1095 to employees. JBC Pros is a boutique firm focused on helping employers navigate the complex and ever-changing world of employee benefit regulations by simplifying processes and minimizing their workload. More information on JBC Pros’ ACA reporting solution is HERE.
Please contact your Bim Group Account Executive / Account Manager if you have questions on this requirement or would like to discuss JBC Pros’ ACA reporting services.