HR: What Is the New IRS Form 1095-C?
December 8, 2015, Volume 62, No. 16
This coming tax season, most Penn faculty and staff members will receive a new IRS document called Form 1095-C (https://www.irs.gov/pub/irs-pdf/f1095c.pdf). Required by the Affordable Care Act, Form 1095-C includes information about the health insurance coverage offered to you by Penn.
You will receive this form if you are:
• a full-time benefits-eligible faculty member,
• a part-time benefits-eligible faculty member enrolled in a Penn benefit plan at any point in 2015,
• or you worked at Penn an average of 30 or more hours per week in 2015 and were offered ACA benefits coverage.
You may receive the form even if you are not enrolled in a Penn benefit plan. It will be mailed to you on or before February 1, 2016.
If you receive a Form 1095-C from Penn, be sure to keep it for your records. You may need the information on the form when you file your 2015 tax return or have your tax return prepared.
If your family members—adult children under age 26, for example—are covered under a Penn healthcare plan, they may also need a copy of your Form 1095-C for their tax returns.
To make sure your Form 1095-C is mailed to the correct address, please review and update your home address on the U@Penn Portal at https://firstname.lastname@example.org
After you log in to the U@Penn Portal with your PennKey username and password, select “My Profile” under the “My Personal Data” tab and proceed to update your home address as needed.
Your Form 1095-C will contain details about your eligibility for Penn health plans. The form will also provide information for each of your family members enrolled under your Penn benefit plan. The IRS will use the information from 1095-C to determine who will need to make a Shared Responsibility Payment for failing to have healthcare coverage as required by the Patient Protection and Affordable Care Act.
If you worked for other employers during 2015 or had other sources of coverage in 2015, you may receive similar forms from them as well.
For detailed information and updates about Form 1095-C, visit https://www.irs.gov/form1095c and the IRS Affordable Care Act Tax Provisions for Individuals and Families webpages at https://www.irs.gov/Affordable-Care-Act/Individuals-and-Families/Health-Care-Law-and-Your-Tax-Return
—Division of Human Resources
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