HR Insights


The President's "Health Care W-2"

Posted by Wendy White on September 9, 2015

The President's "Health Care W-2" | Wendy White | HR Insights blog by CareATC, Inc.Since 1943, the all too familiar W-2 has been a measure of a company's compensation to each of their employees.

But this year, Form 1095-C is a further requirement for employers with 50 or more workers.

Millions of American employees will receive this form for the first time by January 31st, 2016.

There are many changes that will go into effect for next year's American taxes, but Form 1095-C will have the biggest ramifications for HR.

This form requires businesses to give a month-by-month breakdown of health insurance provision for every one of their employees.

This helps the IRS more accurately manage worker health care subsidies, as well as employer penalties for not properly providing coverage.

This information may be easily generated through digital means, but lots of American HR teams haven't made the jump to digital record keeping.

In situations like this, preparing for the 1095-C can be a huge administrative hurdle.

Read full article at HuffPost Politics Blog.

Photo credit: White House (Pete Souza) [Public domain], via Wikimedia Commons
Wendy White

About The Author

Wendy White

As the Director of Client and Clinical Services at CareATC, Wendy manages the implementation and ongoing success of our clients' clinic programs. She is also a resident expert on all things CareATC, having been with the company for over 10 years.

Post Topics Benefits & Compensation