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Video instructions and help with filling out and completing Which Form 1094 B Charities

Instructions and Help about Which Form 1094 B Charities

Hello this video provides a walkthrough of a filing guide tool created by Greatland to help you determine how to complete lines 14 through 16 on Form 1095-c I will pran overview of part two lines 14 through 16 on Form 1095-c then I will demonstrate the use of great lines filing guide tool by using a common filing scenario and show you an example of a report generated from this tool lastly I will show you how you can get Direction on your own common employee scenarios lines 14 through 16 a form 1095-c is an area generating the most questions by filers let's review each line on line 14 enter the code identifying the type of health coverage if any offered to the employee the employees spouse and the employees dependents there are ten applicable codes for line 14 please refer to the 1095-c instructions for a description of each code the code does not necessarily match the coverage in which the employee is enrolled for example let's say that the employee is offered family coverage but the employee enrolls in employee only coverage line 14 should indicate that the employee was offered family coverage line 14 is all about the offer a code must be entered for each calendar month January through December even if the employee was not a full-time employee for one or more calendar months on line 15 entered the employee required contribution which is generally the employee share of the monthly cost for the lowest cost self only minimum essential coverage providing minimum value that is offered to the employee keep in mind that the amount entered might not be the amount the employee is actually paying for coverage for example if the employee is enrolled in family coverage and pays $300 per month but the monthly amount for the employee only coverage is $150 per month $150 is the amount to be entered on line 15 on line 16 enter the applicable code there are eight codes and again please refer to the 1095-c instructions for a description of each code if no code applies line 16 may be left blank now let's access the tool created by Greatland to assist you in completing lines 14 through 16 unformed 1095-c go to the link at the top of the slide part 2 Greatland comm please keep in mind that this tool does not cover all scenarios and is only meant to prgeneral direction on common scenarios it should not be relied on for tax legal or accounting advice you should consult your own tax legal and accounting advisers before engaging in any transaction the first question you will be asked when accessing the tool is whether your company provided minimum essential coverage to your employees if you are unsure there are links within the tool to pradditional information for illustrative purposes I will select yes the second question is did the coverage prminimum value again I will select yes the third question asks who is offered coverage I will select employee spouse and dependents the next question asks whether the offer to the spouse was a conditional offer a conditional offer is an offer of coverage that is subject to one or more reasonable objective conditions for example a conditional offer would be an offer to cover an employee's spouse only if the spouse is not eligible for coverage under Medicare or a group health plan sponsored by another employer in this case I will select no the last question is if the employee required contribution for a 2022 calendar year plan is 94 dollars and 75 cents or less the purpose of this question is to determine whether the offer is considered a qualifying offer or not in this case I will select yes once you have answered each of the questions the tool would give you direction as to the code to enter on line 14 and whether or not an entry is required on line 15 also the tool will pryou with several other examples using the same line 14 code the tool will also pryou with a description of lines 14 through 16 along with the description of the lines 14 through 16 codes you be sure to access part two great link on for assistance in completing form 1095-c file ACA forms at yearly comm or call to speak with an ACA filing expert at eight hundred nine six eight ten ninety-nine thank you.

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