The new IRS 1095-B and 1095-C tax forms

Beginning with the 2015 tax year, the IRS is requiring a new annual form from health plans (Form 1095-B) and employers (Form 1095-C). Plans and employers must send these forms to their covered-persons and employees, as well as to the IRS. The forms enable taxpayers to prove to the IRS that they were either covered by or offered Medical health coverage that the government deems to be "Minimal Essential Coverage" (MEC). It’s important, because if an individual or family cannot prove to the IRS that they had such coverage, they risk paying more in taxes.

Ask your tax preparer or advisor if you have specific questions while filing your taxes. Everyone’s tax situation is different, and we are not able to give you tax advice.

The Carpenters Southwest Administrative Corporation (“CSAC”) will produce a 1095-B form on behalf of the Health and Welfare Fee-for-Service Plan for participants who had coverage during any portion of the year. For participants covered by HMOs, the HMOs will issue the 1095-B. If for some reason a participant had coverage under both Fee-for-Service and a HMO during the same year, they will receive multiple 1095-Bs, each reflecting the particular months during which there was coverage.

Visit the IRS web page on this topic to learn more. 

1095-B 

The 1095-B is a new IRS tax form required under the Affordable Care Act (ACA). Starting with tax year 2015, if you or a family member were covered under a government-approved medical health Plan at any time during the year, then your health coverage provider must produce this form, indicating which months such coverage existed, and for whom.

A copy will be sent to…

  1. You (the H&W Participant) no later than March 31, 2016, and
  2. The IRS, no later than June 30, 2016.

This form serves two main purposes. As applicable, it will help you, as a taxpayer…

  1. Document what medical coverage you and your family members had (if any), and
  2. Determine if you qualify for an ACA exemption, or if you owe additional tax.

Be sure to retain this form with all your other supporting tax documents. You should not send it in with your tax return. If someone helps you prepare your tax return, you should make sure they are aware of this form. Ask your tax preparer or advisor if you have specific questions while filing your taxes. Everyone’s tax situation is different, and Carpenters Southwest Administrative Corporation is not able to give you tax advice. Also, be sure to read the form's "Instructions for Recipient," as well as any supplemental inserts.

Visit the IRS web page on this topic to learn more. 

1095-C 

The 1095-C is a new IRS tax form required under the Affordable Care Act (ACA). Starting with tax year 2015, if you were employed an average of 30 hours per week in any month, by an employer who is required by the ACA to either provide or offer you government-approved medical health coverage, then that employer must produce this form.

A copy will be sent to…

  1. You (the employee), no later than March 31, 2016; and,
  2. The IRS, no later than June 30, 2016.

This form serves two main purposes. As applicable, it will help you, as a taxpayer…

  1. Document what medical coverage your employer made available to you (if any); and,
  2. Determine if you qualify for an ACA exemption or tax credit; or, if you owe additional tax.

Be sure to retain this form with all your other supporting tax documents. You should not send it in with your tax return. If someone helps you prepare your tax return, you should make sure they are aware of this form. Also, be sure to read the form's "Instructions for Recipient," as well as any supplemental inserts. Ask your tax preparer or advisor if you have specific questions while filing your taxes. Everyone’s tax situation is different, and Carpenters Southwest Administrative Corporation is not able to give you tax advice. 

Visit the IRS web page on this topic to learn more. 

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