Part of the ACA legislation requires that Krause Group and all related companies to provide employees that were eligible for health care coverage in 2022 with a 1095-C tax form. The deadline for employers to provide the 2022 1095-C tax form has been extended to March 2, 2023. These tax forms will be mailed separately to your home address by March 2, 2023.
Individual taxpayers will generally not be affected by this extension and should file their returns as they normally would. You do not have to wait for the 1095-C tax form from Krause Group to file your 2022 income tax return. Although the 1095-C tax form is intended to help you report your insurance coverage, you can use other forms of documentation, in lieu of the 1095-C tax form, to prepare your income tax return. Other forms of documentation that would provide proof of your insurance coverage include the following:
Remember, although you are not required to file the 1095-C tax form with your income tax return, it is important that you do not discard this document. Only one 1095-C tax form is provided for all individuals covered by your health plan, and it should be kept in your records with any other important tax documents.
Q: What is Form 1095-C?
A: Form 1095-C contains detailed information about the healthcare coverage provided by your employer. If you were enrolled in healthcare coverage from your employer, worked an average of 30 or more hours per week, or were considered a full-time employee at any point in 2022, then you should receive a 1095-C. Taxpayers do not need to wait to receive Form 1095-C before filing their 2022 tax returns; however, you should keep this document with your tax records. Think of the form as your “proof of insurance” for the IRS.
Sample 1095-C tax form:
Q: How will I receive Form 1095-C?
A: 2022 1095-C documents will be mailed to active and former employees who were full-time (worked an average of 30 or more hours per week) or were enrolled in the company’s health insurance plan in 2022 by March 2, 2023 to the last updated address in our system.
If you met the requirement above and have not received your mailed 2022 1095-C by the third week of March 2023, please take the following steps:
1. Contact the Grow People Department at 515-457-6221, to verify if you need to update your address. If your 1095-C has been sent back we will mail it to your updated address.
2. Active Associates: Obtain an electronic copy of your 1095-C, immediately, through Workday.
3. Terminated Associates: After March 2, 2023, you may request a copy of the 1095-C form. Payroll will print 1095-C’s if requested, for active or terminated associates; however, you will need to complete a Request for Form 1095-C.
Q: Who receives a Form 1095-C?
A: Employers with 50 or more full-time employees are required to send a 1095-C to any employee who was full-time (worked an average of 30 or more hours per week) or who were enrolled in their health insurance plan in 2022.
Q: Why did I get a Form 1095-C?
A: If you were full-time (worked an average of 30 or more hours per week) or were enrolled in health insurance through your employer at any time during 2022, you should receive a 1095-C.
Q: Why did I get more than one Form 1095-C?
A: If you worked at more than one company or franchise, you may receive a 1095-C from each company/employer.
Q: What should I do with my Form 1095-C?
A: When you receive your 1095-C, keep it for your records. You will need it to complete your tax return.
Q: Do I need my Form 1095-C and my W-2 to file my taxes?
A: No, taxpayers may complete their 2022 tax returns without Form 1095-C; however, it is recommended you keep this form with your 2022 tax records.
Q: When will I get my Form 1095-C?
A: The 1095-C will be mailed to the last updated address in our system by March 2, 2023. If you believe you should have received a 1095-C but did not, please contact Grow People Service Delivery at 515-457-6221.
Q: Will I be fined if I did not receive a Form 1095-C?
A: If you don’t have qualifying health insurance, in some cases you can claim a healthcare coverage exemption. You can use the IRS Health Coverage Exemptions Form 8965 to find out if you qualify. Please visit www.irs.gov or www.healthcare.gov to learn more.
Q: Why didn’t I get a Form 1095-C?
A: If you were not full-time (worked an average of 30 or more hours per week) and were not enrolled in health care coverage through your employer at any time during 2022, you should not receive a 1095-C. You may also not receive a 1095-C if you were not the primary insured.
Q: What information is on the Form 1095-C?
A: 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 (including dependents) covered under your self-insured plan.
Q: What is the difference between a 1095-A, 1095-B and 1095-C?
A: 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.
Q: What if I have additional questions?