Starting in 2015, employers with 50 or more employees are not only required to provide health coverage, they must also report the coverage to the IRS and employees. Reporting will be done on new Form 1095-C, a draft of which is not yet available. Reporting is voluntary for 2014 even if employers provide coverage; reporting will be required for 2015 and beyond, so the first forms will have to be filed by January 31, 2016. The reporting rule applies to employers with 50-99 employees despite their exemption from the employer mandate until 2016.
Good news … you can subscribe right here on my website for free to my Big Ideas for Small Business® monthly newsletter and get your copy delivered to your inbox — just as my Idea of the Day® is delivered to your inbox at no charge. Please tell a friend and help me share the good news with other small business owners and entrepreneurs!