Affordable Care Act Deadlines Approaching in Late May or June

Since Jan. 1, 2016, businesses with 50 or more full-time employees (or equivalents) have been required to offer affordable, minimum value insurance coverage to their full-time employees (who work 30 or more hours a week, on average), under the federal Affordable Care Act. This requirement went into effect in 2015 for employers with 100 or more full time equivalents (FTEs).

Deadlines are approaching at the end of this month or the end of June, depending on how the information is provided, for all applicable large employers, or ALEs. ALEs are employers with 50 or more full-time equivalents.

A Form 1095-C (on each employee) is due to the Internal Revenue Service (IRS) by May 31, 2016 (June 30 if filed electronically). For companies that are fully insured, Blue Cross Blue Shield should assist with preparing the forms. However, self-insured companies must bear the burden themselves.

Those NOT subject to the employer mandate who sponsor self-insured plans should have supplied employees with a 1095-B form by the end of March in order to report minimal essential coverage. The Form 1095-Bs are due to the IRS by May 31, 2016, for 2015 returns OR June 30, 2016, if filed electronically.

>> IRS reminder on these deadlines

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At the request of the Alabama Retail Association, Jamie M. Brabston, senior counsel with Lehr Middlebrooks Vreeland & Thompson, P.C., has prepared explanations of key terminology and processes related to the Affordable Care Act to make the law more understandable for retailers.

Complete the form to receive a link to download a PDF version of the full guide, or click the links below to view topic summaries.

Employer Mandate

Determining ALE Status

Full-Time Employee

Affordable Coverage

Minimum Value