NEW FOR 2015 TAX YEAR
EMPLOYERS MUST PROVIDE A NEW 1905 TAX FORM
As a part of the Affordable Care Act (ACA), also known as “Healthcare Reform”; everyone is required to be enrolled in a health plan or pay a tax penalty. In order to validate the enrollment status of individuals, employers are required to report to the IRS the enrollment status of all employees eligible to receive coverage under their group health plan. The reporting by the employer is to be made on a 1095-C form.
What you need to know about the 1095-C form
- It is provided to every employee eligible to take employer sponsored health insurance in the 2015 tax year.
- The IRS will receive a copy.
- The IRS announced an extension to the deadline for the employer to release the form to March 31, 2016.
- The impact of the extended deadline was mentioned in the IRS extension notice,
“. . . While the information on these forms may assist in preparing a return, they are not required. Like last year, taxpayers can prepare and file their returns using other information about their health insurance. Individuals do not have to wait for their Form (1095) in order to file.”
- The employee should keep the form in their personal tax file. The IRS clarified that it does NOT need to be included with your 2015 tax return.
- Your 1095 will be released in February – March. The document will be mailed to your home and will have your employer’s return address on the envelope. If you have changed addresses recently, you should contact your employer immediately for an address update.
Scioto Health Plan (SHP)
Coordination of Benefits Questionnaire
Employee Health Insurance Questionnaire