What are 1094 and 1095 filings?

1095 and 1094 filings are tax forms used to report information about healthcare coverage under the Affordable Care Act (ACA).

Form 1095-B is used to report information about healthcare coverage provided by insurance companies, government-sponsored healthcare programs, and other providers of minimum essential coverage. It includes information about the individuals covered, the period of coverage, and the type of coverage provided.

Form 1095-C is used to report information about healthcare coverage offered to employees by applicable large employers (ALEs), those with 50 or more full-time equivalent employees. It includes information about the employee, the period of coverage, and the cost of the coverage offered.

Form 1094-B and 1094-C are transmittal forms that are used to summarize and transmit the information reported on the 1095-B and 1095-C forms, respectively.

These forms are used by the IRS to enforce compliance with the individual and employer mandates of the ACA and to verify that individuals have had minimum essential health coverage throughout the year.