With over 20 years of experience in the employee benefits market, WellSpring Benefits, Inc. develops strategies for employers to keep their healthcare dollars in check. With changing legislation, employers are finding it increasingly difficult to balance cost and value when managing employee benefits. Contact us today to see how WellSpring Benefits can create a strategy that best suits your unique workplace needs.
A prime example of the changing healthcare benefits landscape is the addition of two employer reporting requirements of the Affordable Care Act (ACA) to the Internal Revenue Code back in 2015. These codes require applicable large employers (ALEs) to provide every full-time employee with an annual statement detailing the employer’s health coverage. All employers that provide minimum essential coverage under a self-funded/self-insured plan must provide an annual statement to those covered. To satisfy these requirements, the IRS has designed a new form, Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, and Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns.