Let’s Review the Recent ICHRA Updates on Forms 1095 & 1094

Let's Review the Recent ICHRA Updates on Forms 1095 & 1094

We've previously blogged about the updated Forms 1094-B/C and 1095-B/C for TY2020, and now we're pleased to share some further insight into some of the changes made on this years' forms, specifically surrounding Individual Coverage Health Reimbursement Arrangement (ICHRA) compliance. There are several big changes:

  • New data fields on Form 1095-C to include an individual’s zip code and age,
  • Form 1095-C “Instructions for Recipient” text has been revised and moved to Page Two,
  • Eight new Line 14 codes on Form 1095-C have been created to accommodate ICHRA coverage, requiring an appropriate offer of coverage code in each section, and
  • Forms 1095-B includes a new origin of coverage code to accommodate the new ICHRA plan.

Find the udpated forms below:

Draft 1094-C:  https://www.irs.gov/pub/irs-dft/f1094c–dft.pdf
Draft 1095-C: https://www.irs.gov/pub/irs-dft/f1095c–dft.pdf
Draft 1094-B: https://www.irs.gov/pub/irs-dft/f1094b–dft.pdf
Draft 1095-B:  https://www.irs.gov/pub/irs-dft/f1095b–dft.pdf

We'll be reviewing the new codes in greater depth in an upcoming post (Stay tuned)! BenefitScape is always here to answer any questions you may have and help you get started for TY2020 ACA Compliance and Reporting. Call us at (508) 655-3307 or email info@benefitscape.com to get started.

News & Latest Posts

ACA DEADLINES ALMOST HERE

February 26, 2024

The IRS ACA reporting DEADLINES for TY23 [filing in 2024] are as…

ACA Reporting: IRS Codes Explained

February 15, 2024

There are two series of IRS CODES for ACA reporting & compliance. These…

ACA State Mandates: A Guide & Checklist

February 5, 2024

When passed, the Affordable Care Act [ACA] required individuals to purchase &…

Survival Kit: 226J Penalty Letters

January 18, 2024

As we enter the final straight for TY23 filings, the IRS continues…

So What Is Regtech and Why?

December 11, 2023

The regtech market was valued at $9.8 billion in 2022; the forecast…

ACA TY23: “Is My Company An ALE?”

December 11, 2023

All Applicable Large Employers [ALEs] are subject to the ACA’s employer shared responsibility [ESR]…

Scroll to Top