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Press Release – Affordable Care Act Client Alert

Year-end 2015 will bring new reporting requirements for employers for the Affordable Care Act (ACA). You may think this reporting only applies to organizations subject to the Employer Mandate, otherwise known as “Applicable Large Employers” (ALEs) – those with 50 or more full-time-equivalent employees (FTEs), but that’s not necessarily the case. Even small employers may have to comply with these reporting requirements if their group health plan is self-insured.

There are two kinds of forms – the “1095” forms (1095-B and 1095-C) and the “1094” forms (1094-B and 1094-C). An easy way to look at ACA reporting is by considering it similar to wage reporting using Form W-2. The “1095”forms are sent out to EACH employee reporting their insurance coverage, much like W-2s are used to report wages. The “1094” forms summarize the underlying “1095” forms, much like Form W-3 summarizes all the wage statements.

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