Frequently Asked Questions about the IRS Form 1095
- What is this form I’m receiving?
A A 1095 form is a little bit like a W-2 form. Your employer and/or insurer, sends one copy to the Internal Revenue Service (IRS) and one copy to you. A W-2 form reports your annual earnings. A 1095 form reports your health care coverage throughout the year. If you have health coverage through the Local 338 Health & Welfare Fund (Local 338 H&W Fund), the Fund will be sending you a 1095-B form. Your employer may also send you a 1095 form. (Both the Fund and a “large employer”, as defined by the Affordable Care Act, have independent obligations to send you the form.)
- Who is sending it to me, when, and how?
Your employer, if they are a “large employer” as defined by the Affordable Care Act, or health insurance company (or the Local 338 H&W Fund if you have coverage through the Fund), or both, should send one to you either by mail or in person. You should receive it on or shortly after February 28, 2017. (Starting in 2017, it should be mailed to you each year by January 31, just like your W-2.)
- Why are you sending it to me?
The 1095 forms will show that you and your family members either did or did not have health coverage during each month of the past year. Because of the Affordable Care Act, every person must obtain health insurance or pay a penalty to the IRS.
- What am I supposed to do with this form?
Keep it for your tax records. You don’t actually need this form in order to file your taxes, nor do you send it in with your taxes, but when you do file, you’ll have to tell the IRS whether or not you had health insurance for each month of the prior year. The Form 1095-B or 1095-C shows if you had health insurance through your employer (which includes health coverage through the Local 338 H&W Fund, a benefit negotiated by your Union with your employer). Since you don’t actually need this form to file your taxes, you don’t have to wait to receive it if you already know what months you did or didn’t have health insurance during the past year. When you do get the form, keep it with your other tax information in case you should need it in the future to help prove you had health insurance.
- What if I get more than one 1095 form?
Someone who had health insurance through more than one employer during the year may receive a 1095-B or 1095-C from each employer; similarly, if you have coverage through the Local 338 H&W Fund, you will receive a 1095-B from the Fund, even if you also receive one from your employer, because the law requires the Fund to also provide you with the form. Some employees may receive a Form 1095-A and/or 1095-B reporting specific health coverage details. Just keep these—you do not need to send them in with your taxes.
- What if I did not get a Form 1095-B or a 1095-C?
If you believe you should have received one from the Local 338 H&W Fund but did not receive one, please contact the Fund Office at 516.294.1338, extension 1776. If you do not have coverage through the Local 338 H&W Fund, but, rather, through other employer-sponsored coverage, then contact the Benefits Department of your employer.
- I have more questions—who do I contact?
Please contact the Fund Office at 1.516.294.1338, extension 1776. Also, an IRS website called Questions and Answers about Health Care Information Forms for Individuals (Forms 1095-A, 1095-B, and 1095-C) covers most of what you need to know.