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The Internal Revenue Service said Monday that it is giving employers additional time to file health care reform law mandated coverage reports.
The deadline for employers to electronically file the so-called 1094 forms for 2015 which provide coverage information to the IRS was extended to June 30, 2016 from March 31, while non-electronic form reporting was delayed to May 31, 2016 from Feb. 29.
In addition, the deadline for furnishing employees with 1095 coverage forms for 2015 was extended to March 31, 2016 from Feb. 1, 2016.
The IRS said in Notice 2016-4 that it decided to delay filing deadlines for employers, insurers and others health plan coverage providers after it determined that providers needed “additional time to adapt and implement systems to gather, analyze and report this information.”
Business groups said they welcomed the reporting deadline extensions.
“I am thrilled that companies will receive this desperately needed relief from the very complicated and onerous filing and furnishing requirements. It is great that the government was so responsive to our urgent and continuing requests for a delay,” said Gretchen Young, senior vice president of health policy at the ERISA Industry Committee in Washington.
“We welcome the IRS' flexibility in allowing more time,” said Steve Wojcik, vice president of public policy at the National Business Group on Health in Washington.
The $1.1 trillion budget deal that Congress approved Friday would delay the notoriously unpopular Cadillac tax for two years and put a repeal in reach of the congressional leaders and business groups who oppose it.