Form 1095-C is an annual IRS filing detailing Employer-Provided Health Insurance Offer and Coverage. It is only required for Applicable Large Employers (employers with 50 or more full-time equivalent employees).
If you are required to submit Form 1095-C, Venteur will alert you in January of each year and support you to prepare a draft 1095-C in advance of tax filing deadlines.
Form 1095-C determines if you have satisfied the Shared Responsibility Provision under the Affordable Care Act. Per IRS regulation:
Section 4980H generally provides that an applicable large employer is subject to an assessable payment if either (1) the employer fails to offer to its full-time employees (and their dependents) the opportunity to enroll in minimum essential coverage (MEC) under an eligible employer-sponsored plan and any full-time employee is certified to the employer as having received an applicable premium tax credit or cost-sharing reduction (section 4980H(a) liability), or (2) the employer offers its full-time employees (and their dependents) the opportunity to enroll in MEC under an eligible employer-sponsored plan and one or more full-time employees is certified to the employer as having received an applicable premium tax credit or cost-sharing reduction (section 4980H(b) liability). Section 4980H(c)(4) provides that a full-time employee with respect to any month is an employee who is employed on average at least 30 hours of service per week.