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Chicago Illinois Form 1094-B: What You Should Know

Tax Center. The IRS has recently posted information on reporting income from the Affordable Care Act. For information about your contribution obligations, go to IRS.gov/HealthCare-Affects-Citizens/Forms-1095. Affordable Care Act 1095-B and 1095-C Form W-2 Information — IRS .gov This form has updated information and is updated annually. The form is available on IRS.gov at. The IRS has recently posted an advisory that employers should not use the 1095-B or 1095-C form to report employees' Insurance coverage on their returns. This is because the form, although it contains the information you need on the forms to report health insurance coverage from an employer covered by the ACA, it does not contain the information that is required by the Affordable Care Act to make the coverage reportable to you. You should read this advisory carefully before filing your information. What is an Employer Shared Responsibility payment? Many taxpayers may be unfamiliar with the federal employer shared responsibility (ESR) provisions of the Affordable Care Act. ESR is a penalty for failing to provide minimum acceptable health coverage to an employee or to any other individual employed by an employer who is an eligible individual. You must report the ESR for 2017. An eligible individual is an employee who: Works at least 30 hours a week The employee is eligible for minimum essential coverage under a qualified health plan under section 1302(d)(1)(B) of the Patient Protection and Affordable Care Act (commonly known as “ACA”) Who is an ineligible individual? An employee is ineligible if, during the taxable year, the employee enrolls in an individually purchased qualified health coverage plan offered through an Exchange and is NOT eligible to obtain insurance coverage under the employer-sponsored plan because the premium for the coverage the employee enrolls in is more than 8% of the employee's household income or is less than 10% of the employee's household income for 2018. Employers with 100 or more employees who satisfy the definition of “an employer” in section H–2(b) of the Act are required to provide coverage to eligible individuals (subject to the penalty or the payment of an ESR).

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