Employers With Level Funded Health Plans Are Required To File Certain Tax Forms

Small employers that sponsor self-insured (Level Funded) plans must report minimum essential coverage (MEC) provided to individuals.

• IRS Form 1095-B: This form is filed for each individual covered under the self-insured plan. You must provide a copy to the covered individuals and file a copy with the IRS.
• IRS Form 1094-B: This is the transmittal form (cover sheet) that accompanies all the 1095-B forms when you file them with the IRS.

2. Excise Tax Form (PCORI Fee)

Employers with self-insured health plans must pay the Patient-Centered Outcomes Research Institute (PCORI) fee annually.

• IRS Form 720: Use the Quarterly Federal Excise Tax Return (specifically for the second quarter, filed by July 31) to report and pay the PCORI fee based on the average number of lives covered under the plan.