ACA Compliance
Solutions
From filing to fulfillment we eliminate the stress and ensure you are compliant.
ACA Compliance
Solutions
From filing to fulfillment we eliminate the stress and ensure you are compliant.
Full Service ACA Package Includes:
Automated Code Generation on Form 1095
1094 & 1095 Form Generation
Authorized Electronic IRS Filing Service
State Filing
Employee Form Fulfillment and Distribution
Straightforward Pricing
Dedicated Account Manager
Ready to Get Started?
Our Reliable and Simple ACA Process
MoneyWise will review all employer and employee data to validate for accuracy. Any questions and recommendations will be communicated timely.
Analyze Data
You will receive all forms for review and approval. If any changes are needed form will be sent again until final approval.
Reporting & Approval
MoneyWise will electronically file the 1095 and 1094 files with the IRS, and individual state when applicable. We will also keep you updated on the status of your returns.
Filing
1095-C Forms are mailed to employees before the deadline.
Fulfillment
MoneyWise will review all employer and employee data to validate for accuracy. Any questions and recommendations will be communicated timely.
Analyze Data
You will receive all forms for review and approval. If any changes are needed form will be sent again until final approval.
Reporting & Approval
MoneyWise will electronically file the 1095 and 1094 files with the IRS, and individual state when applicable. We will also keep you updated on the status of your returns.
Filing
1095-C Forms are mailed to employees before the deadline.
Fulfillment
Our Reliable and Simple ACA Process
Non-Compliance Penalties can be Costly.
Penalties are assessed for both furnishing and filing, so the $310 penalty is doubled to $620 which can add up quickly. Interest is also added on Penalties. Maximums are assessed based on size of business but can stretch into the 7 digits.
2025 Penalties for late filing or inaccurate filing are:
30 Days Late - $60 per Return
31 Days through August 1 - $120 Per Return
After August 1 - $310 Per Return
Intentional Disregard - $630 Per Return
Are you an Employee who received a 1095-C Form?
Are you an Employee who received a 1095-C Form?
Are you an Employee who received a 1095-C Form?
ACA Frequently Asked Questions
Individual statements for 2024 (Forms 1095-B and 1095-C) must be furnished to employees by March 3, 2025.
Electronic Returns to the IRS must be filed by March 31, 2025.
Employers with 50 or more Full Time and Full-Time Equivalent (FTE) employees are considered as an ALE (Applicable Large Employer). ALEs must report the employees health coverage information through ACA Form 1095-C to the IRS under section 6056.
California, Massachusetts, New Jersey, Rhode Island, Washington, DC, Vermont.
Other states considering action are Connecticut, Hawaii, Maryland, and Minnesota.
You can get an automatic 30-day extension of time to file by completing Form 8809, Application for Extension of Time To File Information Returns. The form may be submitted on paper, or through the FIRE System either as a fill-in form or an electronic file. No signature or explanation is required for the extension. However, you must file Form 8809 on or before the due date of the returns in order to get the 30-day extension. Under certain hardship conditions, you may apply for an additional 30-day extension.
The 1095 Forms are distributed to employees, and the Form Letter associated is based on the type of Plan they have.
1095A - Anyone who purchased health insurance through the marketplace at healthcare.gov
1095B - Anyone who purchased health insurance directly (individual plan) or through a small business under 50 lives who is not subject to mandate.
1095C - Anyone who has coverage through their employer that is subject to the mandate.
Form 1094-C is used to report to the IRS summary information for each employer and to transmit Forms 1095-C to the IRS. Form 1095-C is used to report information about each employee.
ACA Frequently Asked Questions
Individual statements for 2024 (Forms 1095-B and 1095-C) must be furnished to employees by March 3, 2025.
Electronic Returns to the IRS must be filed by March 31, 2025.
Employers with 50 or more Full Time and Full-Time Equivalent (FTE) employees are considered as an ALE (Applicable Large Employer). ALEs must report the employees health coverage information through ACA Form 1095-C to the IRS under section 6056.
California, Massachusetts, New Jersey, Rhode Island, Washington, DC, Vermont.
Other states considering action are Connecticut, Hawaii, Maryland, and Minnesota.
You can get an automatic 30-day extension of time to file by completing Form 8809, Application for Extension of Time To File Information Returns. The form may be submitted on paper, or through the FIRE System either as a fill-in form or an electronic file. No signature or explanation is required for the extension. However, you must file Form 8809 on or before the due date of the returns in order to get the 30-day extension. Under certain hardship conditions, you may apply for an additional 30-day extension.
The 1095 Forms are distributed to employees, and the Form Letter associated is based on the type of Plan they have.
1095A - Anyone who purchased health insurance through the marketplace at healthcare.gov
1095B - Anyone who purchased health insurance directly (individual plan) or through a small business under 50 lives who is not subject to mandate.
1095C - Anyone who has coverage through their employer that is subject to the mandate.
Form 1094-C is used to report to the IRS summary information for each employer and to transmit Forms 1095-C to the IRS. Form 1095-C is used to report information about each employee.
Non-Compliance Penalties can be Costly.
2025 Penalties for late filing or inaccurate filing are:
Penalties are assessed for both furnishing and filing, so the $310 penalty is doubled to $620 which can add up quickly. Interest is also added on Penalties. Maximums are assessed based on size of business but can stretch into the 7 digits.
30 Days Late - $60 per Return
31 Days through August 1 - $120 Per Return
After August 1 - $310 Per Return
Intentional Disregard - $630 Per Return
Who Needs to File?
Employers who qualify as Applicable Large Employers (ALEs), meaning they had 50 or more full-time employees, including full-time equivalents (FTEs), on average during the previous calendar year, are required to file ACA forms. ALEs must file Form 1095-C for each full-time employee, as well as Form 1094-C, which is the transmittal form sent to the IRS. Additionally, any employer that provides self-insured health coverage, regardless of size, must also file these forms to report health coverage information for their employees. The forms are used to report compliance with the employer mandate and individual coverage requirements under the ACA
Full-Time Employees
A full-time employee for any calendar month is an employee who has on average at least 30 hours of service per week during the calendar month, or at least 130 hours of service during the calendar month.
Full-Time Equivalent (FTE) Employees
A full-time equivalent employee is a combination of employees, each of whom individually is not a full-time employee, but who, in combination, are equivalent to a full-time employee. An employer determines its number of full-time-equivalent employees for a month in the steps that follow:
-
Combine the number of hours of service of all non-full-time employees for the month but do not include more than 120 hours of service per employee.
-
Divide the total by 120.