It’s getting colder out, it’s 4th quarter and one of the busiest times of the year so there’s no better time to make you aware of some additional reporting requirements for the 2019 Tax Year!

To enforce the New Jersey Health Insurance Mandate, NJ is requiring third party reporting to verify health coverage information for New Jersey residents. This information will be transmitted through New Jersey’s system for processing W-2 forms. The 2019 coverage information must be provided electronically by March 31, 2020.

For the 2019 Tax Year, New Jersey will accept 1095-A, 1094-B, 1094-C, 1095-B, and 1095-C forms. This is great because NJ will use the forms employers are already preparing. Employers do need to make sure that they submit these reports to both the IRS and New Jersey as this new state requirement is in addition to the federal reporting requirements.

The requirements for an employer will be determined by the size of the employer and whether they are fully-insured or self-insured.
Please refer to the bulletin below from the New Jersey Treasury for full details and information on how to submit forms.

For more information, please reach out to Michelle Sheppard at msheppard@martinins.com