A Message from the Benefit Funds: Your IRS Form 1095B Statement

In the middle of next month (January, 2016) the Benefits Fund office will be mailing to all members a letter and a tax form that require your attention. That’s because the Affordable Care Act (ACA) requires all Americans to have health insurance that meets certain standards and the Internal Revenue Service (IRS) needs to know whose coverage meets those standards.

The form that the Benefits Fund will be mailing to all members in January is called IRS Form 1095B statement. It represents a summary of your own personal health coverage for the year 2015 through the Benefits Fund. In short, this statement lets the IRS know that you had coverage and also reflects how long during the year you had that coverage. The statement includes the same details for your enrolled dependents.

When you receive this statement, please note that THE BENEFITS FUND HAS FILLED OUT THE FORM FOR YOU AND HAS SENT IT TO THE IRS. The statement you receive from the Benefits Fund in January is for your records.

It is strongly recommended that you keep the IRS Form 1095B statement with your other 2015 tax year records. You do not have to send any of the material in the statement to the IRS with your tax return, but you may need information from it to complete your income tax return. That’s why we recommend that you keep the form in a safe place.

This change in tax filing is due to regulations contained in the Affordable Care Act. Please note that you may receive more than one Form 1095B if you had other health coverage in 2015. If you have any questions in January when you receive this form, please feel free to contact the Benefits Fund office at 212-586-6400.