The Internal Revenue Service is giving health insurers, group health insurance plan sponsors, and sponsors of self-funded employer health plans more time to get coverage summary notices to the enrollees.
The IRS has pushed the deadline for getting 1095-B and 1095-C coverage notices to the enrollees back to March 2, from Jan. 31.
The parties that send the notices still have to file the coverage information with the IRS by March 31.
Parties that file the information on paper, rather than electronically, must get the information to the IRS by Feb. 28.
The IRS is also expanding an existing effort to help insurers and employers that are having trouble complying with the reporting rules. The IRS says it will give relief to insurers, employers and self-funded plan sponsors that make a good-faith effort to get accurate Social Security numbers, middle initials and dates of birth from current or former enrollees but are unable to get the information.
“No relief is provided in the case of reporting entities that do not make a good-faith effort to comply with the regulations or that fail to file an information return or furnish a statement by the due dates,” IRS officials say.
The IRS announced the 1095-B and 1095-C deadline change, and the expanded good-faith relief rules, in IRS Notice 2016-70.
Form 1095-B and Form 1095-C
The Affordable Care Act now requires many employers to offer “minimum essential coverage,” or affordable health coverage with a minimum value, or else pay a penalty.
The ACA also requires many individuals to own a minimum level of health coverage for much of the year or else pay a penalty.