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What is a 1095 Form and how do businesses file them?

Complying with ACA Reporting Requirements for Employers

Mark Ge

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Ensure compliance with ACA regulations through proper 1095 form filing.

As businesses navigate the complex world of taxes and compliance, one crucial aspect is the filing of 1095 forms. These forms are essential for meeting the requirements set by the Affordable Care Act (ACA) and ensuring that both businesses and employees comply with health insurance coverage mandates. This article will delve into what the 1095 form is, who needs to file it, the deadlines for filing, and how businesses can efficiently file these forms using the ez1095 software by halfpricesoft.com.

Recent changes in IRS regulation now requires all companies with 10 or more employeees to electronically file. As a result, more companies in the US track and file this information with software like ez1095. Companies tend to prefer software like ez1095 since the software is operated in-house by the company. Consequently it is more secure than using an online service and is more likely to comply with data protection and HIPAA requirements.

What is the 1095 Form?

The 1095 form is a tax form used to report information about health insurance coverage. There are three variations of this form:

For businesses, the focus is primarily on Form 1095-C. This form helps the IRS track compliance with the ACA's employer mandate, which requires ALEs to offer affordable health insurance that provides minimum essential coverage to their full-time employees.

Who Needs to File the 1095 Form?

The responsibility to file the 1095 form depends on the type of form and the entity involved:

Information on how to file this to the federal government can be found here. Information on how to file to state governments can be found here.

Deadlines for Filing 1095 Forms

The IRS sets specific deadlines for the distribution and filing of 1095 forms:

These deadlines are often changing depending on year. For 2025, an update page with deadlines will be released once the IRS and states announce new dates.

It is HIGHLY recommended to begin compiling this information well before the deadline. Software like ez1095 allow for employers to begin compiling this information in advance.

How to File 1095 Forms

Filing 1095 forms can be a daunting task, especially for businesses with a large number of employees. Fortunately, ez1095 by halfpricesoft.com simplifies the process. Here's a step-by-step guide on how to file 1095 forms using ez1095:

1. Purchase and Install ez1095

Visit halfpricesoft.com to purchase and download the ez1095 software. Detailed setup instructions can be found here.

2. Enter Company Information

Open ez1095 and enter your business's information, including your Employer Identification Number (EIN), address, and contact details.

3. Input Employee Data

Enter the required employee information, such as names, Social Security numbers, and details about the health coverage offered. This data can often be imported from existing payroll or HR systems to save time.

4. Generate Forms

Once all the necessary information is entered, use ez1095 to generate the 1095-C forms. Review the forms for accuracy and completeness.

5. Distribute Forms to Employees

Print and distribute the 1095-C forms to your employees by the January 31st deadline.

6. File with the IRS and State Governments

Use ez1095 to file your forms with the IRS. If you're filing electronically, the software will guide you through the process. More detailed instructions can be found here.

Information on how to file with state governments can be found here.

7. Keep Records

Maintain copies of the filed forms and any related documentation for your records. This is important for future reference and potential audits.

Conclusion

Compliance with ACA reporting requirements is crucial for businesses, and understanding the 1095 form is a key part of this process. By adhering to deadlines and utilizing efficient tools like ez1095 by halfpricesoft.com, businesses can streamline their reporting efforts and avoid potential penalties. Properly filing 1095 forms not only keeps businesses in compliance with federal regulations but also ensures that employees receive accurate information about their health insurance coverage.


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