ACA Tax Requirements
Information needed for your taxes
The district will mail every full-time employee a 1095c Form – proof of healthcare coverage. This form, along with your W-2, will be mailed to your home in early February and should be submitted with your taxes. The 1095-C form shows which months of the year you were eligible for coverage and the cost of the least expensive monthly premium you could have paid under district plans.
All full-time employees, excluding temps and subs, will receive a 1095-C form. AEA, Local 71 custodians and Bus employees will receive two 1095-C forms, one from ASD and one from their designated bargaining group. You will need both forms, in addition to your W-2 form, when you submit your taxes.
To be sure you receive the new healthcare coverage form - make sure the district has your correct address. You can update your address with HR Talent Management at the ASD Education Center.
Frequently Asked Questions
Below are some answers to frequently asked questions about the healthcare reform law (also known as the Affordable Care Act or ACA).
What do I put on my tax return?
You will indicate whether you (and your dependents) had coverage on your Federal income tax return by checking a box on the form you are filing. On IRS Form 1040, this information is requested on Line 61. You will receive information from your employer and/or your health insurance provider about the coverage in which you are enrolled and/or were offered, but you should not provide this information to the IRS with your tax return. This process functions in the same manner as your Form W2 in that regard.
New healthcare reporting law
Since 2014, the healthcare reform law (the Affordable Care Act (ACA)) has required individuals to have health insurance that meets the “minimum essential coverage” standards or potentially pay a penalty. When you file your Federal income tax return, you must indicate whether you (and your dependents) had the type of health insurance required by the law. The IRS will also receive information about your coverage from your employer and/or your health insurance provider.
What information about my coverage will I receive?
You will receive a Form 1095-C from Anchorage School District. This form shows which months of the year you were eligible for coverage and the cost of the least expensive monthly premium you could have paid under our plans for employee only coverage. Section III of the form provides information about the months in which you and/or your dependents where covered under our plan. Information from Form 1095-C, Section III can be used in completing your Federal income tax return.
Keep all forms you receive with your tax documents in case you are ever asked to provide proof of coverage. Your tax preparer may also ask for these forms as documentation. You do not need to submit these forms with your taxes and can prepare taxes without them if you know the months of the year that you (and your dependents) had coverage.
How will I know if I owe a tax penalty?
If you and your tax dependents had healthcare coverage for all of the calendar year, you will not owe a tax penalty. However, if there was a gap in healthcare coverage of more than three months, you may have to pay a penalty when you file your Federal income taxes. If you had a gap in coverage, talk to your tax advisor about whether you may qualify for an exemption due to financial hardship or other accepted reasons.
What if my dependents or I had other coverage?
If you are covered under your spouse or domestic partner’s plan, these forms will be provided by their employer and/or insurance carrier. If you were covered by a healthcare marketplace plan, you would receive a similar form (1095-A) from your healthcare carrier.
When will I receive the forms?
For tax filing, you should expect to receive your forms in early February.
Who can I contact with questions?
If you have questions, contact email@example.com