New reporting requirements for 2015 federal income tax
In addition to filing your W-2, the IRS has a new requirement starting with the 2015 federal income tax reporting year. Information from IRS Form 1095-B and/or Form 1095-C must now be included with individuals’ income tax return. Please be sure to watch your mail for important tax documents and safeguard your form(s) with your other tax reporting documents.
Here are some frequently asked questions about this new tax reporting requirement:
Why am I getting an IRS Form 1095?
IRS Forms 1095-B and 1095-C provide health coverage information for you and your covered dependent(s) for tax reporting purposes. You are required to report and provide proof of minimum essential health coverage for you and your dependent(s), if any, on your federal income tax return.
What are IRS Form 1095-B and IRS Form 1095-C?
IRS Forms 1095-B and 1095-C provide information you need to report minimum essential health coverage for you and your dependent(s), if any, on your income tax return. The employer reports the offer of minimum essential coverage on IRS Form 1095-C. Enrollment in a self-insured plan is also provided on IRS Form 1095-C. Enrollment in a fully insured plan is reported on IRS Form 1095-B.
What is minimal essential coverage?
The health insurance coverage offered through the State/PeopleFirst and GatorCare group insurance programs are considered minimum essential coverage based on Affordable Care Act (ACA) definitions.
Who requires these forms and this reporting?
The Internal Revenue Service (IRS) requires these forms pursuant to the ACA, which requires most individuals to have minimum essential coverage. If you or your dependents do not have minimum essential coverage, you could face a penalty imposed by the IRS.
What should I do with this form?
Safeguard this form with your other income tax filing records and use the information on the form to complete your tax return.
Why did I get multiple forms?
The most common reasons individuals receive more than one form are:
You are enrolled in a fully insured health insurance plan. You will receive IRS Form 1095-C from your employer and IRS Form 1095-B from your fully insured health plan.
You had more than one employer during the tax reporting year.
You retired or terminated employment during the tax reporting year and continued health insurance as a retiree or under COBRA.
Whom do I call if I have questions about this form?
If you have questions about what to do with the form, please call your tax preparer. If you have questions about the personal information on the form (for example, your address or Social Security number is incorrect), call the phone number in box 10 of the form. You can also visit the IRS website at http://www.irs.gov/ACA.
What do I do if I lose the form?
If you are a current UF employee, call or email the UF Benefits Office at (352) 392-2477 or benefits@ufl.edu to request a duplicate. If you are a former UF employee and you had health coverage through the State/PeopleFirst, call the Division of State Group Insurance (phone number in box 10). If you are a former UF employee and had GatorCare coverage, call or email the UF Benefits Office.
I don’t work for UF anymore, but the employer box says Division of State Group Insurance is my employer. What does this mean?
The IRS requires the employer section of the form to be completed, even for former employees. The Department of Management Services Division of State Group Insurance is the administrator of the state group health insurance program and can assist you if you have questions about the information on the form. If you have questions about what to do with the form, please call your tax preparer.