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Video instructions and help with filling out and completing Who Form 1094 B Via

Instructions and Help about Who Form 1094 B Via

Thank you everyone for joining us we put up to we appreciate you taking some time out of your afternoon to join us today we have our full series up on our website which I did send out in the chat box the link so you can register for I think there's seven or eight upcoming it they go through the end of june so please take a look at that when you have a chance i also uploaded on the handouts tab of your GoToWebinar toolbar the presentation as well as there's some forbes that Larry's going to go through the forms first so if you'd like to pull those up on your own computer as he's going through them those are in the handouts tab for you and we're going to keep everyone on mute just because we do have a high volume of people today if you'd like to we're going to pause for questions and Larry will answer them if you'd like to ask your question through the questions tab I'm also happy to get your answer for you if you don't if you don't want to verbally ask your question I think that's it will turn it over to Barry thank you very much of all the questions I mean I am getting for my clients this is over the last three or four weeks this is the number one area that everybody's asking about and that's why we decided to divide up the presentation between ensure that self-insured because I understand it gets confusing when you combine the two so we're going to have one presentation today but if you're insured how to complete it and then we're going to then have march first run of a second seminar on if your self insured and the coalition of forms are different depending on how of how your your coverage is whether it's insured or self-insured the first thing I'm going to do is briefly go through the forms and for those of you who have not looked at them are not familiar with them it gives you kind of an idea what we're dealing with ah now there's two farms we're going to go through today we're going to go through that 1095 see in the 1094 see and we're going we're going to go through them and I've amended the presentation I did a few months ago to include common situations things that you have to look out for and and I remember since your insurance your employees will get a 1095 be from the insurance company that will indicate to you to them that for those who took your coverage when they had covered it and that's for the individual mandate extremely important to understand their purpose behind the 1095 c is to show the IRS who you offer coverage to when you offered it who is covered by your plan and also indicating with your coverage was affordable so remember anyone who will have to do this if they have 50 or 50 or more full-time or full-time equivalent employees in 2022 4 2022 that will determine your status is an applicable large employer and you have to do the 1095 see what confuses everyone is that if you're between 50 to 99 the employer mandate does not apply to you 4 2022 but you still have to prthe form to your employees you have to prthe forward to any employee that was full-time for a month in 2022 now what's very confusing I just had a client asked me this suppose you had a situation where you had an employee in a measurement period and there a variable our employee put them through a measurement period and in any month they had 130 hours do they get a 1095 see and the answer is no because that person is that Dean to be full time until they get to their stability period so when they're in the measurement period they're not full time in a day and if you use a 12-month measurement period and they've never completed 1500 60 hours they're not full time and therefore even though and any particular month they work 130 hours the government does not see them as being a full-time employees so therefore they're not eligible for coverage and they don't get a 10 95 c and less at the end of the administrative period they were full time so they're in there in a stability period they are considered to be full time and you had an offer them coverage extremely important to understand that now let's look at the 1095 see in detail all right you have to give it to 95 c to anyone who's your employee so it doesn't include owners of an S corporation they have to be common law employees to get a 1095 fate so if your insurer don't worry about those individuals that are covered by your plan that are not employees cova participants they only get a 1095 see in the year they terminate coverage not in the year after including also retirees don't get a 1095 see so generally its employees its full-time employees is that indicated before so if you look at part 1 look at the employee the individual employee will get a 1095 see you have to put their name social security number street address and then on the right side is you the applicable large employer now basically what you do is you have to every if you are a company that has a number of different EIN numbers the entity that actually employs them they will have to their ein will go on the applicable large employer so if you have a company with three different divisions and three different divisions have employees and they each have their own separate EIN number you would issue a 1095 c4 that applicable large employer who they work.

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