Healthcare Coverage Reporting Due Dates Extended

Affordable Care ActThe IRS announced the due date for providing Form 1095-B, Health Coverage and Form 1095-C, Employer Provided Health Insurance Offer and Coverage, is extended from February 1, 2016 to March 31, 2016.

Also, announced is the due date for filing the 2015 Form 1094-B, Transmittal of Health Coverage Information Returns, for Form 1095-B Health Coverage, and Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns for Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, from February 29, 2016 to May 31, 2016 if not filed electronically.

Since Form 1095-C generally includes information about health care coverage and is used to determine eligibility for the premium tax credit, the delayed due dates for reporting may affect the timing of your reporting for health care credits. Some employees (and related individuals) who enrolled in coverage through the Marketplace, but did not receive a determination from the Marketplace that the offer of employer-sponsored coverage was not affordable, could be affected if they do not receive their forms 1095-C prior to filing their tax returns. As a result, for the tax year 2015 only, taxpayers who rely upon other information received from employers, about their offers of coverage for purposes of determining eligibility for the premium tax credit when filing their income tax returns, need not amend their returns once they receive their forms 1095-C or any corrected forms 1095-C.

Individual taxpayers who use form 1095-B or form 1095-C to confirm that they had minimum essential coverage for purposes may not have this information before tax time. For the 2015 tax year only, taxpayers who rely upon other information received from coverage providers about their coverage will not need to amend their tax returns after receipt of the form 1095-B or form 1095-C or any corrections.

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