IRS Issues Draft ACA Reporting Forms

IRS Issues Draft ACA Reporting Forms

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IRS Issues Draft ACA Reporting Forms
Calendar29 July 2014

The IRS last week issued drafts of the Affordable Care Act (ACA) forms required for employer shared-responsibility (ESR) and minimum essential coverage (MEC) reporting. It's expected that issuers of health insurance and certain employers will use Form 1094-B and Form 1095-B for MEC reporting, while large employers will use Form 1095-C and Form 1094-C for ESR reporting and, in some cases, MEC reporting. The IRS also has posted a draft of Form 8941 for claiming the small employer tax credit for offering health insurance through a SHOP exchange. Draft instructions for the forms are not available yet.

As Congress enters the final week before its August break, implementation of the law is the subject of two House hearings.  The first hearing, held on Monday, addressed the ACA’s risk-corridor program for insurers and the ability of individuals to keep their health insurance currently available on the group market if they like that coverage.  The second will focus on difficulties experienced by during its launch last fall and the costs related to repairing the site and building the “back end” of the system needed for exchange plan administration.

The House is expected to vote this week on a resolution authorizing House Speaker John Boehner’s lawsuit against President Obama over last year’s delay of the law’s employer play-or-play mandate.

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