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.

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