IRS Form 1095-C is one of the Affordable Care Act Forms offered by Tax1099. The form is for reporting information to the IRS and to taxpayers about individuals not covered by minimum essential healthcare coverage.
The health care law defines that employers must offer health insurance to their workers. The law refers to them as “applicable large employers,” or ALEs. Any employee of an ALE who is offered insurance coverage should receive a 1095-C. Employees that decline a health plan will still receive a 1095-C.
The form includes:
- The employee and employer
- The months the employee was eligible for health coverage with the cost of the cheapest monthly premium the employee could have paid
- If the ALE does not offer its employees insurance. If it doesn’t, the ALE will be given a financial penalty.
Who Should File 1095-C?
Employers with 50 or more full-time employees in the previous year use forms 1094-C and 1095-C to report information required in sections 6055 and 6056 about offers of health coverage.
An ALE Member must file one or more 1094-C forms (including a 1094-C designated as the Authoritative Transmittal, whether or not filing multiple Forms 1094-C), and must file a 1095-C for each employee who was a full-time employee for any month of the year.
Generally, the ALE Member is required to furnish a copy of Form 1095-C (or a substitute form) to the employee.
Form 1095-C Deadlines For 2020
The following are the due dates for each filing type. Forms must be transmitted to the IRS before the deadline.
- Recipient copy > March 4
- IRS eFile > March 31
- IRS paper filing > February 28
If a due date falls on a weekend or holiday, it will be due the next business day.