On Dec. 28, 2015, the IRS announced that it is granting an automatic extension for the 2015 information returns required of insurers, employers and certain other providers of Minimum Essential Coverage (MEC) under Section 6055 and 6056 of the Internal Revenue Code (IRC).
Coverage providers that need more time now have until March 31 to get Form 1095 to individuals and until June 30 to electronically file with the IRS. For providers not filing electronically, the deadline is May 31, 2016.
Notice 2016-4 explains that the IRS is prepared to receive filings beginning in January as originally scheduled. Employers and insurers are filing the Affordable Care Act (ACA) information returns for the first time, as required by the health law. Therefore, the IRS wants to give the employers, insurers and other providers of minimum essential coverage more time, if necessary, to gather, analyze and report the information.
We are continuing to work with our carriers toward meeting the original timelines communicated by the IRS. In fact, many carriers began to furnish the required Forms to subscribers in December. However, the extension gives us some flexibility, if needed, and all 1095-B forms should be to subscribers before the March 31, 2016 deadline.
Information Supports the Mandates
These reports contain information that is needed to enforce ACA individual and employer mandates.
– The individual mandate requires all individuals to have insurance.
– The employer mandate requires applicable large employers to offer minimum essential coverage that meets a minimum value and is affordable.
Reporting Extension Summary
|Coverage Provider||Reporting Reason||New 2016 Date||Original 2016 Date|
|Applicable Large Employers (ALE) and Insurers||Forms (1095-B, 1095-C) report MEC coverage and are furnished to subscribers (responsible individuals) to support their income tax filing.||March 31, 2016
· Form 1095-B
· Form 1095-C
|Jan. 31, 2016|
|ALE and Insurers||A filing made with the IRS that aggregates the coverage information contained in the individual 1095-B, 1095-C forms.||June 30, 2016
(if filing electronically)Form 1094-B
May 31, 2016 (if paper filing)
· Form 1094-B
· Form 1094-C
|March 31, 2016
(if filing electronically)
Feb. 28, 2016 (if paper filing)