ICHRA Reporting requirements for Small Business (Non - ALE)

AGCorp · ‎January 24, 2022

How do I report the ICHRA reimbursements I have made for an employee's health care premiums?

It appears that as a non ALE small business, there are no W2 reporting or 1095-C reporting requirements. But there are 1094-B and 1095-B filing requirements. How do I do this in Quickbooks desktop with Enhanced payroll?

Thanks in advance for all your help

MichelleBh · ‎January 28, 2022

Thanks for the clarification, @AGCorp.

I'll share some information about filling 1095B and 1094B forms in QuickBooks Desktop.

Currently, QuickBooks does not support 1095B and 1094B forms because of the HR and benefits information needed to complete these forms. With this, I'd recommend filling these in the IRS website manually. For the complete instructions, check out this article: IRS instructions for Forms 1094-B and 1095-B.

To complete the form 1095B and 1094B, let's run the employee contact information and service-hour report in QuickBooks. Follow the steps below:

Go to the Reports menu.
Select Employees & Payroll, then choose Employee Contact List and Payroll Summary one at a time.
Click the Customize Report option and choose the appropriate fields you want to show in the report.
Hit OK.
To print or save the report, select Print Report or Save as PDF from the File drop-down menu.

For more details, see this link: Understanding the Affordable Care Act Employer Mandates.

Feel free to visit this link for future reference: The Affordable Care Act. This page contains Obamacare coverage, cost requirements, penalties, and other related matters.

If you have any questions or concerns, please know I'm only a post away. Keep safe, AGCorp.

View solution in original post

DebSheenD · ‎January 24, 2022

Thank you for posting here in the Community, AGCorp.

I'm here to share some information on how your can track the Individual Coverage Health Reimbursement Arrangement (ICHRA).

Setting up the ICHRA and Qualified Small Employer Health Reimbursement Arrangements (QSEHRA) is the same about creating pay types. However, when tracking the tax type, you'll need to contact your agency and pick the correct tax tracking type.

Here's how to create a pay type:

Go to the Employees menu and choose Payroll Center.
Tap on the Payroll Item button at the bottom-left part of the Payroll Center window.
Hit what setup method is applicable if it's either EZ Setup or Custom Setup.
Follow the on-screen details until it's done.

I also suggest consulting an accountant to ensure that you track reimbursements correctly.

Additionally, you can read through this article about a report that Qualified Small Employer Health Reimbursement Arrangements (QSEHRA): Report healthcare reimbursements (QSEHRA) on W-2 forms.

AGCorp · ‎January 28, 2022

Hello. Thanks for your response. In your response, you have talked about how to track the HRA.

I have already done that. I am talking about reporting the ICHRA (not QSEHRA) at the year end. ICHRA (for a small business that is not an ALE) have requirements to file 1095B and 1094B. My question is about how I can do that from QB Payroll..

MichelleBh · ‎January 28, 2022

Thanks for the clarification, @AGCorp.

I'll share some information about filling 1095B and 1094B forms in QuickBooks Desktop.

Currently, QuickBooks does not support 1095B and 1094B forms because of the HR and benefits information needed to complete these forms. With this, I'd recommend filling these in the IRS website manually. For the complete instructions, check out this article: IRS instructions for Forms 1094-B and 1095-B.

To complete the form 1095B and 1094B, let's run the employee contact information and service-hour report in QuickBooks. Follow the steps below:

Go to the Reports menu.
Select Employees & Payroll, then choose Employee Contact List and Payroll Summary one at a time.
Click the Customize Report option and choose the appropriate fields you want to show in the report.
Hit OK.
To print or save the report, select Print Report or Save as PDF from the File drop-down menu.

For more details, see this link: Understanding the Affordable Care Act Employer Mandates.

Feel free to visit this link for future reference: The Affordable Care Act. This page contains Obamacare coverage, cost requirements, penalties, and other related matters.

If you have any questions or concerns, please know I'm only a post away. Keep safe, AGCorp.

AGCorp · ‎January 31, 2022

Thanks for the details.

The link you provided was directed to the 1095/1094-C - ALE...

For others reading this that may find it useful, I found the following link for downloading the form / instructions for 1094/1095-B

https://www.irs.gov/instructions/i109495b

Cheers...

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ICHRA Reporting requirements for Small Business (Non - ALE)