Who Provides 1095 C Form?
The 1095 C form, officially known as the “Transitional Relief Certificate,” is a crucial document for individuals and businesses in the United States. It is used to report information about health coverage provided to employees during the tax year. But who exactly is responsible for providing this form? Let’s delve into the details.
First and foremost, the responsibility for providing the 1095 C form falls on employers. Under the Affordable Care Act (ACA), employers with at least 50 full-time equivalent employees are required to offer minimum essential coverage to their full-time employees. If an employer meets this requirement, they must provide each full-time employee with a 1095 C form by January 31st of the following year.
The form itself contains important information about the employee’s health coverage, such as the months in which the employee was covered, the cost of the coverage, and whether the coverage was considered affordable. Employers are required to file this form with the IRS, and a copy must also be given to each employee.
In some cases, employers may use a third-party administrator (TPA) or a service provider to assist with the administration of their health plans and the preparation of the 1095 C forms. These service providers are typically responsible for ensuring that the forms are accurately completed and distributed on time.
Additionally, self-insured employers, which are companies that pay for their employees’ medical claims directly rather than purchasing insurance from an insurance company, are also required to provide the 1095 C form. This includes employers who self-insure their health plans and those who have a third-party administrator handling the claims.
Lastly, it’s important to note that while employers are primarily responsible for providing the 1095 C form, employees should also take an active role in understanding the information provided on the form. This includes verifying that the information is accurate and addressing any discrepancies with their employer.
In conclusion, the 1095 C form is provided by employers, with some assistance from third-party administrators or service providers. This form is a vital document for both employers and employees, as it helps ensure compliance with the Affordable Care Act and provides valuable information about an individual’s health coverage.
