Whether you’re doing it yourself or outsourcing, here’s a look at what it really takes to complete Forms 1094-C and 1095-C as an Applicable Large Employer. Visit http://bit.ly/payx-esr for more information.

1. Before You Begin...
It’s probably a good idea to read the instructions, right?
12,8444,5011,344
Forms 1094-C & 1095-C
Instructions
The Declaration
of Independence
The United States
Constitution
Hamlet
Prince of Denmark
Words WordsWordsWords
Completing the Forms
How Much Could ACA Reporting Actually Cost?
How Much is Your Time Worth?
You can’t put a price tag on this kind of thing, can you? Let’s say you have 75 FTEs. Here’s an estimate of where your time (or money) could go each year.
Know the Rules
Whether you’re doing it yourself or outsourcing, here’s a look at what it really takes to complete
Forms 1094-C and 1095-C as an Applicable Large Employer.
To truly be prepared for ACA reporting, it’s important to know the law, the regulations, and what rules apply to business owners.
Start reading on January 1st
and you’ll wrap up
on August 25th
(assuming you don’t sleep and the
rules don’t change).
44 Million
Related Rules for Businesses
as Filed in the Federal Register
Get comfy — you’re reading
for two days straight.
384,007
Patient Protection
and Affordable Care Act
Words Words
The Minimum
You read the instructions and kept careful track
of the required data each month.
The Outsourcer
You elect to pay your accounting professional or
financial advisor (assuming they have access to
the applicable data, of course).
The In-house Expert
You read every word of every regulation and
compile all the necessary data each month for
the entire year.
Reading (Instructions) 2 hrs
Monthly prep (10 min per employee, per month) 150 hrs
Year-end prep 8 hrs
Monthly prep (5 min per employee, per month) 75 hrs
Year-end prep 4 hrs
Reading (Everything) 5,700 hrs
Monthly prep (10 min per employee, per month) 150 hrs
Year-end prep 8 hrs
You know the rules? Great! Time to begin — all you need is...
NotsurehowtheIRSdefinesanFTE–orevenwhatitstandsfor?Betterstartreading...
5,700hoursisabouthowlongitwouldtaketoreadthese...
Paychex Can Help!
We’ve filed over 2 million IRS forms for our affected clients and we can help
you stay in compliance. Contact us for more information: (844) 802-2248
31,903
$10,82379 HRS @ $137/HR**=
per
year
$8,000
160 HRS @ $50/HR*=
per
year
$292,9005,858 HRS @ $50/HR*=
per
year
One (or more) Forms 1094-C
including an Authoritative Transmittal, to know
whether you need to file multiple Forms 1094-C,
and to include your monthly ALE member
information and any Aggregated ALE Group
information, if applicable.
A Form 1095-C
(or a substitute form) for each employee
who worked full-time for any month of the
calendar year and any part-time employee
enrolled in a self-insured plan.
A lot of data, including
hours-worked info, whether or not insurance was
offered, affordable, and met minimum value and
coverage requirements, for each full-time (or
full-time equivalent) employee and their dependents,
each month. Complete requirements are available
here (but you already read those, right?).
*
Based on median owner/operator salary as reported by PayScale.com, June 2016. http://bit.ly/299e48n
**
Median of average hourly billing rates, 2016 MAP Survey, as reported by Journal of Accountancy, January 2016.
The information contained above is not tax or legal advice. These issues are complex and applicability depends on individual circumstances. Businesses should consult their benefits advisor, tax
professional, or legal counsel before taking action on any of the items identified above. Times listed are estimates for informational purposes only; actual time spent may vary on an individual basis.
Word counts based on available documentation as of December 2014 and may vary over time (except for those historical documents referenced and Hamlet, which doth not change).