Watch for Tax Form 1095: You’ll need it for your tax records!

If you are (or were) a benefits-eligible employee and/or enrolled in or offered University System of Georgia (USG) healthcare coverage during 2016, you will automatically receive Form 1095 from USG. As required by the Affordable Care Act, USG will mail your Form 1095 for the 2016 tax year to you no later than March 2, 2017. The mailing is automatic. You do not need to take any action to receive your form. Watch for it in your mailbox at home. Keep this form with your other important 2016 tax documents.

Form 1095 includes information about the healthcare coverage offered to you by USG. And, if you’re enrolled in USG’s healthcare coverage, it will be your proof of “minimum essential” healthcare coverage required under the Affordable Care Act (ACA).

Each year, the Internal Revenue Service (IRS) will determine if you meet the ACA’s requirement for having healthcare coverage, or if you will have to pay a fine (known as an individual shared responsibility penalty) for not complying with the ACA. Your Form 1095 will serve as your proof of meeting that requirement.

As a reminder, the ACA’s individual mandate requires that all Americans have qualifying healthcare coverage. The employer mandate requires that companies like USG offer affordable, minimum essential coverage to all full-time employees.

Want to learn more? Check out the “Form 1095 Frequently Asked Questions” on usg.edu/hr/benefits.

USG does not give legal or tax advice, so you may want to consult a legal or tax advisor for further guidance on Form 1095.