Under the Internal Revenue Code, employers and health insurance providers are required to report information to the IRS about the health insurance coverage they offer their employees. ACA reporting is enforced to ensure employers with 50 or more full-time employees provide them with health insurance coverage.
ACA reporting is required annually and requires employers to provide information such as the number of employees enrolled in health insurance coverage, the cost of coverage and more. Form 1094-C is used to report the employer’s IRS summary information, while form 1095-C is used to report each employee’s coverage. Because ACA reporting requirements can be complex, many companies turn to ACA reporting services like Experian Employer Services, which can ensure compliance and accuracy in navigating ACA reporting requirements.