Updated December 2016: On November 30, 2016, the IRS extended the due date for the 2016 form 1095-C reporting requirements. This means that the original deadline for issuing form 1095-C to employees has moved from January 31, 2017 to March 2, 2017. You will receive your 2016 form 1095-C prior to the revised deadline of March 2, 2017.
Does the reporting delay affect employees and their tax returns?
The IRS Q&A clarifies that taxpayers do not need to wait until they receive a form 1095-C before they file their taxes. Taxpayers do not need to send a copy of their form 1095-C to the IRS when filing their 2016 taxes.
Prior to March 2, 2017, benefit-eligible employees will receive a new tax form called the 1095-C that will contain detailed information about their health care coverage. It is important to keep the form for your records because you will need it in future years to file your taxes. We have created this FAQ document to provide a better understanding of the form and what to do when/if you receive one.
What is a Form 1095-C?
The 1095-C contains detailed information about the health care coverage provided by your employer(s). If you were a benefit-eligible employee at any point in 2016 then you should receive a 1095-C. While you will not need the 1095-C to complete your 2016 tax filing, this form will be important in future years. Information from the 1095-C form will be used to determine whether you will pay a penalty for failing to have health care coverage as required by the Patient Protection and Affordable Care Act. Think of the form as your “proof of insurance” for the IRS.
Who receives a Form 1095-C?
Employers with 100 or more full-time equivalent employees are required to send 1095-Cs to any employee who was enrolled in their health insurance plan in 2016.
Why did I get a Form 1095-C?
If you were a benefit-eligible employee at any point in 2016 then you should receive a 1095-C.
Why did I get more than one Form 1095-C?
If you worked at more than one company or franchise, you may receive a 1095-C from each company/employer.
Why didn’t I get a Form 1095-C?
If you were not a benefit-eligible employee at any point in 2016 then you should not receive a 1095-C. You also may not receive a 1095-C if you were not the primary insured.
When will I get my Form 1095-C?
You should receive your 1095-C for the 2016 tax year before March 2, 2017. If you believe you should have received a 1095-C but did not, please contact Employee Benefits at (814) 865-1473.
What should I do with my Form 1095-C?
When you receive your 1095-C, keep it for your records.
What information is on the Form 1095-C?
There are three parts to the form:
- Part 1 reports information about you and your employer.
- Part 2 reports information about the coverage offered to you by your employer, the affordability of the coverage offered, and the reason why you were or were not offered coverage.
- Part 3 reports information about the individuals covered under your plan, including dependents.
How will the Form 1095-C impact my taxes?
If you do not have health care coverage and do not qualify for an exemption, you may be subject to a fine when you file for your 2016 tax return. Or, if there’s a discrepancy in the information that you and your employer report to the IRS about the health care coverage offered to you, your tax return may be delayed.
Do I need my Form 1095-C and my W-2 to file my taxes?
You will need your W-2 to complete your 2016 tax return. The IRS Q&A clarifies that taxpayers do not need to wait until they receive a 1095-C form before they file their 2016 taxes. Taxpayers do not need to send a copy of their form 1095-C to the IRS when filing their 2016 taxes.
What is the difference between a 1095-A, 1095-B, and 1095-C?
The forms are very similar. The main difference is who sends the form to you. The entity that provides you with health insurance will be responsible for sending a Form 1095.
- You will receive a 1095-A if you were covered by a federal or state marketplace (also called an exhange).
- You will receive a 1095-B if you were covered by other insurers such as small self-funded groups or employers who use the Small Business Health Options Program (SHOP).
- You will receive a 1095-C if you received health care coverage through your employer.
What if I have questions?
Can I obtain an electronic copy of my 1095-C form?
Yes. By vising www.mytaxforms.com, you can create a login using the instructions found below under Equifax Instructions Sheets.
PLEASE NOTE: You will need the Employer Name Code: 16442
and your Temporary PIN will be: Last 4 digits of your SSN + your 4 digit birth year
What if I didn't receive or have lost my mailed 1095-C form?
You are able to obtain a 1095-C reprint or electronic copy by visiting www.mytaxforms.com and creating a login using the instructions provided below under Equifax Instruction Sheets.