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Tuesday Tidbits: More Data, More Forms, But No More Time

I know businesses are created for the purpose of completing government forms and complying with government regulations, so here is one more piece of data you need to collect.  And don’t forget to try and earn a living in the process.

Don’t be fooled by knowing that the new IRS Forms 1094B, 1095B, 1094C and/or 1095C don’t have to be filed until 2016.  While that’s true, those filings will be based on information tracked in 2015 – in other words, right now.  A lot of the articles you read on this say that if you are a small employer and fully-insured, you don’t have to worry about these forms, the carrier will file them.

That’s true, the carriers will file them AFTER they obtain the data from you.  So regardless of your size and funding status, you need to be tracking a complex data set NOW for use in filing these forms in early 2016.

Fortunately, E2E has developed the software that will track that data for you.  Ask us about our ACA Reporting capabilities. We would love to help you!