It’s Time to Prepare for Filing Your 1095s

Dec 8, 2023 | Affordable Care Act, Announcements, Compliance, Form 1094, Form 1095, IRS, Regulatory

It is that time of year when self-funded employers need to start preparing for a critical health care reform mandate: Providing the IRS with an accurate accounting of health coverage for full-time employees via IRS Forms 1094 and 1095.

Per the Affordable Care Act, health coverage data collected during 2023 must be aggregated and reported to employees no later than March 1, 2024 on IRS Form 1095 and reported to the IRS no later than February 28, 2024 (if filing by mail) or April 1, 2024 (if filing electronically) on IRS Form 1094. Applicable Large Employers (those with 50 or more employees), or ALEs, must report using the IRS’ C-series forms, and small self-funded employers (those with fewer than 50 employees) offering coverage must report using the IRS’ B-series forms.

MedBen has again partnered with MyBenefitsChannel – also known as Sanorbix – to provide reporting assistance for ALE clients.

MyBenefitsChannel has several service options available to help ALEs create and distribute Form 1095-C to employees and prepare and file Form 1094-C with the IRS. MedBen will also be available to assist clients who are small employers by offering related IRS forms (Form 1095-B – employee notice, and Form 1094-B – IRS transmittal) services for a nominal fee.

As in years past, we recommend that our clients purchase these services as soon as possible.

  • If you purchased these services from MyBenefitsChannel last year, you will get renewal information directly from MyBenefitsChannel if you have not already received it.
  • If you wish to purchase these services from MyBenefitsChannel for the first time, please contact your MedBen Account Management Team immediately.
  • If you are planning to create these forms yourself or working with another vendor, we would appreciate knowing that too.

Regardless of your preferred approach, it is important that you start planning now. If you need more information on these requirements, or if you have questions, contact your Account Management Team or Senior Vice President Caroline Fraker at 800-851-0907.