As a reminder, if an employer has at least one employee who resides primarily in New Jersey for at least 15 days in any month, the employer is subject to file Form(s) 1095 with the New Jersey Division of Taxation in the subsequent year annually. The current 2021 tax year’s filing is due on March 31, 2022. Employers are permitted to provide copies of Forms 1095-C (or B) that are prepared for the AIRS to meet NJ’s reporting requirements.
For fully insured plans, if their insurers are filing their NJ residents’ Form(s) 1095, then the employers are not required to file the forms with the state. Employers are encouraged to discuss and confirm with their insurers that the insurers are filing their forms timely.
For self-insured plans, employers are responsible for filing completed Forms 1095-C (or B) with the state, timely.
The main objective of this state reporting is for the state to enforce its Individual Mandate requirement by verifying that each resident had health coverage in the prior year.
Affected employers should be aware of these developments.
New Jersey Shared Responsibility Requirement Site
PPI Benefit Solutions does not provide legal or tax advice. Compliance, regulatory and related content is for general informational purposes and is not guaranteed to be accurate or complete. You should consult an attorney or tax professional regarding the application or potential implications of laws, regulations or policies to your specific circumstances.
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