The IRS Releases Draft Version of 2021 ACA Form 1095-C
The IRS Issued a Draft Version of 2021 ACA Forms 1095-C- Updated July 19, 2021 - 8.00 AM - Admin, ACAwise
These instructions are a helpful guide for mandatory ACA reporters who will need to incorporate these changes in their 2022 ACA reporting.
Last year, the IRS mandated the reporting of ICHRA Coverage on Form 1095-C by adding the new codes and lines.
Now, the IRS has released a draft version of 1095-C which clearly defines the addition of new codes. These will increase the efficiency of completing the mandated ICHRA Reporting.
Key Changes to ACA Form 1095-C
The IRS added the values for the two previously reserved codes in Code Series 1, used on line 14. Form 1095-C has been updated so that an ALE can report the ICHRA coverage that is offered to an employee.
It represents the Individual coverage HRA offered to the employee and spouse (no dependents) and affordability was determined using the employee's primary residence location ZIP code.
It represents the Individual coverage HRA offered to the employee and spouse (no dependents) and affordability was determined using employee's primary employment site ZIP code affordability safe harbor.
If you are new to ICHRA Reporting, Click here to learn more about the ICHRA and 1 Series codes to report the ICHRA coverage.
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