IRS Notice 2016-70, released November 18, 2016, provides additional time for Health Plans and Employers to provide recipients with Form 1095-B (Minimum Essential Coverage Reporting) and 1095-C (Employer Shared Responsibility Reporting) for tax year 2016.
New IRS deadlines for providing Forms to recipients are as follows:
- Minimum Essential Coverage Reporting: Health Plans must provide Form 1095-B, the Statement of Health Coverage, to subscribers no later than March 2, 2017 (changed from January 31, 2017). There is no extension for submitting Form 1094B, the Transmittal, which must be sent to the IRS no later than March 31, 2017 (or April 30, 2017 with an automatic extension). Health Net will send Form 1095-B statement to subscribers prior to March 2, 2017 (start of mailing date to be determined).
- Employer Shared Responsibility Reporting (for Applicable Large Employers): Employers must provide Form 1095-C, Employer Provided Health Insurance Offer and Coverage, to employees no later than March 2, 2017 (changed from January 31, 2017). There is no change in the submission dates for Form 1094-C, the Transmittal, which must be submitted to the IRS no later than February 28, 2017 or March 31, 2017, if filing electronically (note that groups may request a 30-day automatic extension). Note: Employers may access reports through the employer portal on www.healthnet.com which show the dates of coverage for employees and dependents enrolled in a Health Net plan (login and registration required).
- The IRS will not allow any further automatic or permissive extensions for Minimum Essential Coverage or Employer Shared Responsibility reporting.
- Individual taxpayers may file for 2016 prior to receiving Form 1095-B or 1095-C, and will not need to refile once they receive the statement. Additional information is available at https://www.irs.gov/Affordable-Care-Act/Questions-and-Answers-about-Health-Care-Information-Forms-for-Individuals
For additional information about Minimum Essential Coverage and Employer Shared Responsibility, you may refer to these articles on our Health Care Reform Guide on our website: