Dear Participant,
We want to let you know that you will be receiving either one or more new forms that you will need to complete your federal tax returns. This letter provides information on these additional form(s) you will receive.
The Affordable Care Act (ACA) requires Plan Sponsors and larger employers to file reports with the Internal Revenue Service (IRS) regarding your and your dependents’ medical coverage. You will receive Form 1095B from the Fund Office. Form 1095B will indicate how many months you and your dependents had the required coverage under ACA to satisfy the individual health insurance mandate in 2015. The IRS will use this information to determine what, if any, penalties you may have to pay. You should receive Form 1095B from the Fund Office by February 1; keep it for your records and for your use in completing your federal tax returns.
If you worked for any large employers during 2015, employers who employed at least 50 full-time equivalent employees during 2015, then you will also receive a Form 1095C from each such employer. You may have received the 1095C already. This form is also required under ACA.
Here are three things you should keep in mind regarding Forms 1095B and 1095C:
- When you receive these forms, keep them in a safe place so that you can refer to them when completing your federal tax return.
- Check that your and your dependents’ social security numbers and names are as they appear on your 2015 federal tax returns. If not, you should call the source of the form (Fund Office or your employer) to correct the information and request a corrected form.
- You should share the form(s) with your tax preparer and we recommend that you seek answers about this issue from a tax professional.
Here are samples of each form so that you can recognize the forms when you receive them.
If you have any corrections to the 1095B form or do not receive one, please call the Fund Office.
Sincerely,
Board of Trustees