1095 Frequently Asked Questions
The IRS permanently extended the due date for form 1095-C reporting requirements to March 2 of each reporting year. The deadline for issuing the 2023 form 1095-C to employees is to March 2, 2024. Penn State plans to have the 1095-C forms mailed out to individuals by no later than the extended deadline date of March 2, 2024.
What is a Form 1095-C?
The 1095-C contains detailed information about the health care coverage provided by your employer(s). If you were a benefit-eligible employee, or had University-sponsored elected coverage, at any point in the 2023 calendar year, then you should receive a 1095-C. You are not required to file your 1095-C form with your yearly tax return.
Employers with 100 or more full-time equivalent employees are required to send 1095-Cs to any employee who was eligible for their health insurance plan in 2023.
Why did I get a Form 1095-C?
If you were a benefit-eligible employee, even if you waived that coverage, or had elected coverage at any point in 2023 then you should receive a 1095-C.
Why did I get more than one Form 1095-C?
If you worked at more than one company or franchise, you may receive a 1095-C from each company/employer.
Why didn’t I get a Form 1095-C?
If you were not a benefit-eligible employee at any point in 2023 then you should not receive a 1095-C. You also may not receive a 1095-C if you were not the primary insured.
Also, if you are a retiree participating in the Medicare Advantage plan, Freedom Blue, you will not receive your 1095 from Penn State. Medicare will send out your 1095 directly. If your retiree plan has split participation between Freedom Blue and Highmark Lion Advantage or Highmark Lion Traditional, the Lion Advantage/Lion Traditional plan participants will still receive a 1095-C from Penn State.
When will I get my Form 1095-C?
You should receive your 1095-C for the 2023 tax year by no later than March 2, 2024. If you believe you should have received a 1095-C but did not, please contact HR Services at (814) 865-1473.
What should I do with my Form 1095-C?
When you receive your 1095-C, keep it for your records.
What information is on the Form 1095-C?
There are three parts to the form:
- Part 1 reports information about you and your employer.
- Part 2 reports information about the coverage offered to you by your employer, the affordability of the coverage offered, and the reason why you were or were not offered coverage.
- Part 3 reports information about the individuals covered under your plan, including dependents.
What is the difference between a 1095-A, 1095-B, and 1095-C?
The forms are very similar. The main difference is who sends the form to you. The entity that provides you with health insurance will be responsible for sending a Form 1095.
Please note that Penn State University as the employer in this case, you will only receive a 1095-C from Penn State. Other forms would be mailed by the responsible entity.
- You will receive a 1095-A if you were covered by a federal or state marketplace (also called an exchange).
- You will receive a 1095-B if you were covered by other insurers such as small self-funded groups or employers who use the Small Business Health Options Program (SHOP).
- You will receive a 1095-C if you received health care coverage through your employer.
Do I need my Form 1095-C and my W-2 to file my taxes?
You will need your W-2 to complete your 2023 tax return. The IRS clarifies that taxpayers do not need to wait until they receive a 1095-C form before they file their 2023 taxes. Taxpayers do not need to send a copy of their form 1095-C to the IRS when filing their 2023 taxes.
The IRS website has specifically addressed information regarding no need to file the 1095-C when you file:
Question:
"Must I wait to file until I receive these forms?"
Answer:
"If you are expecting to receive a Form 1095-A, you should wait to file your income tax return until you receive that form. However, it is not necessary to wait for Forms 1095-B or 1095-C in order to file.
Some taxpayers may not receive a Form 1095-B or Form 1095-C by the time they are ready to file their tax return. While the information on these forms may assist in preparing a return, they are not required. Individual taxpayers should not wait for these forms and file their returns as they normally would.
Taxpayers can prepare and file their returns using other information about their health insurance. You should not attach any of these forms to your tax return."
What if I have questions?
If you have additional questions about your 1095-C, please contact HR Services at (814) 865-1473. You may also visit www.irs.gov or www.healthcare.gov to learn more.
Can I obtain an electronic copy of my 1095-C form?
Yes.
If this is your first time obtaining your electronic 1095-C form, you can create a login using the Tax Form Management User Guide below under Equifax Instructions. You will need to visit the Tax Form Management (www.mytaxform.com) website to begin. You will also need the following Employer Name/Code.
Employer Name/Code: 16442
For past users, you will use the login information that you previously selected. If you no longer have access with your previous information, please use the Returning User instructions within the Tax Form Management User Guide below for assistance with resetting your User ID and/or password.
What if I didn't receive or have lost my mailed 1095-C form?
You are able to obtain a 1095-C reprint or electronic copy by visiting the Tax Form Management website and following the instructions provided in the Tax Form Management User Guide below.