Full-time employees (working on average 30 or more hours per week) will be issued IRS Form 1095-C titled "Employer Provided Health Insurance Offer and Coverage". This form is required by the Affordable Care Act (ACA) law and will be mailed to you no later than March 2, 2017 (extended by IRS Notice 2016-70). Please verify through BearWeb that your mailing address is correct. Per IRS Notice 2016-4, "Individuals need not send this information to the IRS when filing their tax returns but should keep it with their tax records."
There are three primary sections to the form:
Part I - Employee and Employer Information - Information about the Employee and Baylor University
Part II - Employee Offer and Coverage -
- Line 14 - Offer of Coverage Code - Information about the type of coverage offered
- Line 15 - Employee Share of Cost - the High Deductible Insurance Plan employee premium for self-only coverage. Baylor's lowest cost premiums offered are for the High-Deductible Insuance Plan. The amount reported on Line 15 may not be the actual amount the employee pays. For example, if the employee enrolls in the PPO Insurance Plan and chooses to enroll in Family coverage, the amount that will be reported here will still be the Employee-Only cost for the High-Deductibe Insurance Plan, because that is the lowest cost plan offered by Baylor.
- Line 16 - Section 4980H Safe Harbor Codes - Codes to indicate, by month, if the employee was enrolled in coverage or reason why they were not. For example, someone who is newly hired during the year might not be enrolled in some months.
Part III - Covered Individuals - This is a list of all covered individuals based on the level of coverage the employee has chosen, along with social security number or date of birth and the months that they were covered. Please be sure you have provided Social Security Numbers for all of your covered dependents through SmartBen. This section will be blank for those who have waived insurance coverage.