Information on IRS Form 1095-C
To: Health Plan Benefit-Eligible Employees
From: Debra Mousaw, HR Director for Employee Benefits
Re: IRS Form 1095-C
The IRS has developed a new tax form to facilitate the reporting of health insurance information to employees, IRS Form 1095-C, as a requirement of the Healthcare Reform Law. If you were eligible for health insurance coverage through St. Lawrence University, whether you participated in 2015 or not, you will receive Form 1095-C.
What is Form 1095-C and why do I need it?
When you file your federal income tax return this year, you’ll be required to answer a question about your 2015 health insurance coverage. If you did not have a minimum level of health coverage for all of 2015, your taxes could be affected. Most taxpayers simply need to check a box indicating they had qualifying health care coverage for the entire year. Most tax filers covered for the entire year, either though the University’s plan or other health coverage, can complete and submit their return to the IRS without a Form 1095-C.
Distribution of Form 1095-C to health plan eligible employees will occur early in February. A copy will be mailed to employee’s homes and the form will also be available online using the University’s online benefits portal. Specific directions on how to access the Form 1095-C via the benefits portal will be forthcoming, once the forms are posted to the site.
The Form 1095-C identifies:
• Part I - the employee and the employer
• Part II - which months during the year you were eligible for coverage
• The monthly cost for employee only coverage in the lowest cost health plan offered by St. Lawrence University, even if you elected an alternate plan and/or enrollment tier (like Employee/Spouse or Family Coverage).
• Part III will be completed with Spouse/Dependent information if they were covered under the health plan.
Retirees who are covered on the University’s health plan will receive Form 1095-C directly from Relph Benefit Advisors, the University’s benefit consultant. Retirees may not access FORM 1095-C from the online benefits portal.
For more information, you may reference the IRS website including “Instructions for Form 1095-C” at https://www.irs.gov/uac/About-Form-1095-C. You may also contact Relph Benefit Advisors by calling 800-836-0026, Monday - Friday 8-4:30.