There’s a big new change this year that may take many people by surprise.
Changes associated with the Affordable Care Act mean that most taxpayers will receive unfamiliar tax forms this year: either form 1095-A, 1095-B or 1095-C.
Confused by the difference?
- Form 1095-A is a form sent by the Health Insurance Marketplace to individuals who enrolled in coverage there. The deadline for the Marketplace to complete that form is Feb. 1, and anyone who expecting to receive this form should wait to file their 2015 income taxes until they receive this form from the Marketplace.
- Form 1095-B is a form sent by health insurance providers to the individuals they cover. The deadline to provide this form has been extended to March 31. Individual taxpayers will generally be able to file their returns as they normally would.
- Form 1095-C is a form sent by certain employers, especially employers that offer “self-insured coverage.” The deadline to provide this form has been extended to March 31. Individual taxpayers will generally be able to file their returns as they normally would.
Do you need further information about the ACA and the new 1095 forms, or do you need help providing the 1095 to your employees?
Contact your Unland agent or account manager for assistance.
Do you need help explaining the 1095 to your employees?
Because this form is new, many employees will not be expecting to receive it and may not understand its importance. Unland has a sample letter you can customize for your employees.
August 24, 2016