At Canisius College, we value our employees and are committed to providing you and your family with affordable, substantial health benefits that meet the requirements of “minimum essential coverage” under the Affordable Care Act (ACA).
On December 21, 2015, an email was sent regarding new forms that the IRS is requiring for proof of health insurance coverage. The form titled 1095-C was to be issued by the same date as W2’s (February 1 for 2016). Then, on December 28, 2015 the IRS notified employers that an extension for the issue date was provided. The new deadline is March 31, 2016.
You will also be receiving Form 1095-B from Independent Health. It contains information about who provides your health insurance, as well as which members of your family are covered by the policy and the months of the year each person was covered.
The delay of the forms does not impact filing taxes for 2015 if you are enrolled in employer-sponsored coverage. Taxes filed prior to receiving the 1095-C and 1095-B will not require an amended return to be filed. Once the forms are received, file the forms with your tax information. The college is working on distributing these forms prior to the March 31, 2016 deadline.
If you or your spouse claims a premium tax credit for coverage on the Health Market Exchange, these forms will be needed in order to file taxes for 2015. If the taxes are filed prior to receipt of these forms, an amended return will need to be completed.
If you have any questions, please contact Dawn Rotterman at Ext. 3151 or by email at rottermd@canisius.edu.
Submitted by: Dawn Rotterman, benefits specialist, human resources
