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Who should handle 1095-C reporting?

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The last decade has witnessed a huge boom in the HR software industry and shows no sign of slowing down. With the advent of the Affordable Care Act (ACA) and Forms 1094-C/1095-C, companies from different industries are trying to create online solutions to help Applicable Large Employers (ALE) stay compliant. Among the industries vying for this new customer base are:

  • Payroll companies
  • Standalone vendors
  • Benefits administration providers

Option 1: payroll companies

Payroll companies are used to filing tax forms, however because 1095-Cs require benefits administration information, the broker becomes the involuntary middleman. This circumstance creates tension between the broker and the employer because the employer signed up for a service that requires more work for the broker without compensation.

Option 2: standalone vendors

Standalone vendors are vendors who exclusively provide 1095-C solutions. Because standalone vendor 1095-C solutions act independent of other systems, they must pull information from different sources, they run a much higher risk of error. The same is true of payroll companies as the information must be outsourced.

Option 3: Benefits administration

Benefits administration software providers are the most logical platforms to use when filing 1094-C/1095-C forms. These providers are an obvious choice because benefit administration software already hosts all information necessary to complete both 1094-Cs and 1095-Cs. Such a solution adds to the broker’s value proposition without creating extra work.

 

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Interested in learning about BerniePortal's 1095-C/1094-C options?

 

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