IRS Extends Affordable Care Act Reporting Deadline

The Internal Revenue Service (“IRS”) has issued Notice 2019-63, which extends the deadline for applicable large employers to issue Affordable Care Act Form 1095-C to employees, from January 31, 2020, to March 2, 2020. Employers with self-funded plans must continue to complete Part III of Form 1095-C to report monthly enrollment status for all full-time employees and any dependents. Insurance carriers may elect to forgo issuing Forms 1095-B to individuals covered under insured health plans when certain conditions are met.

What does this mean for you and your company? For key points of interest and potential action items, read the latest thought leadership from Cherry Bekaert Benefits Consulting for more information.