One of the provisions of the Affordable Care Act ("ACA") requires employers to report information regarding an offer of medical insurance coverage to each employee on an annual basis. This is accomplished by the employer providing employees with IRS Form 1095-C. A sample of this form is available on the IRS website.
Employees who received this form for 2021 were:
- Those who were enrolled in an LCC medical insurance plan at any time in calendar year 2021; or
- Those who were offered enrollment in an LCC medical insurance plan at any time in calendar year 2021, but chose to decline/waive coverage regardless of the reason for declination.
The information contained on this form is for informational purposes only, for use in completing the annual federal income tax return. A copy of this form does not need to accompany the return; however, it should be kept as documentation in case there is a future inquiry or request for information from a tax agency.
Additionally, if you had coverage at any time in 2021, you should have received a Form 1095-B from the insurance carrier. This form details who was enrolled in medical coverage (employees and any dependents) in 2021. If you did not receive Form 1095-B, please contact the insurance carrier directly.
If you need a duplicate 1095-C, you can view and print this form directly from ExpressLane. Login to ExpressLane, click on the "Employee" tab and then select "Tax Forms".
Specific Information Contained on Form 1095-C
This section includes the employee's name, address and social security number, as well as the employer's name, address and employer identification number.
Line 14 - This is the specific offer of coverage code. Basically, it states whether or not an employee was offered medical insurance for the applicable month. This information is required on the form.
Line 15 - This provides detail on what the "lowest cost plan" would cost an employee for "employee only" coverage, regardless of the actual enrollment plan choice(s). This information is only required in certain circumstances, so it may be left blank if not applicable.
Line 16 - This code is specific to the employee's enrollment in the offered medical plan. There are specific IRS codes to reflect whether or not the employee chose to enroll in the (Line 14) offered medical plan. If an employee was not offered coverage, there is a code associated with that as well. This information is required on the form.
This section does not apply to Lane Community College; therefore, it is left blank.
More information is available on www.irs.gov, as well as specific Q&A information can be found on the IRS website.