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Affordable Care Act (ACA) Individual Mandate: IRS Filing Requirements July 2015.

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Presentation on theme: "Affordable Care Act (ACA) Individual Mandate: IRS Filing Requirements July 2015."— Presentation transcript:

1 Affordable Care Act (ACA) Individual Mandate: IRS Filing Requirements July 2015

2 ACA requires most Americans, including university students, to:  Have qualifying health care coverage (Minimum Essential Coverage) OR  Qualify for an exemption OR  Make a payment when filing federal income tax, starting 2015 This is known as the “individual mandate” Affordable Care Act (ACA)

3  Health plans are required to report their member information to the IRS, starting calendar year 2015  Name, address, SSN, and dates of coverage  Purpose: verify individuals covered under a qualified health care plan during the year  Individuals who are not covered, or do not verify coverage, may be required to pay a tax penalty IRS Reporting Requirements Internal Revenue Code Sections 6055 & 6056

4  Insurance companies will report member name, address, SSN, and dates of coverage to the IRS report for fully insured student health plans (Berkeley, Davis, Irvine undergrads, Santa Barbara, and Riverside)  As a self-funded health plan, UC SHIP is required to report to the IRS to verify coverage for students and dependents covered under the Plan each year from now on:  Name  Address  Social Security Number  Dates of coverage (Hastings College of the Law, Irvine graduate students, Davis, Los Angeles, Merced, San Diego, San Francisco, and Santa Cruz) UC Student Health Plans

5  2016 is the first year reporting of health care coverage is required under Internal Revenue Code Sections 6055 and 6056  Filing deadline-- member data is due to IRS by March 31, 2016 for coverage in 2015  Members will receive a form 1095-B documenting their information was reported to IRS. Information on this form can be used to verify coverage on 2015 tax return IRS Filing Requirement

6 What if a student does not provide an SSN to their UC campus? Here are likely scenarios: Undocumented status students who do not have a SSN Students who do not wish to share their SSN with UC International students who do not work and file taxes Social Security Number

7  The IRS requires health plans to request member SSN in writing when this information is missing on enrollment records  Required to request the SSN three times for each calendar year  Date of Birth may be substituted if the SSN is not available by filing deadline  IRS may contact individuals to request their SSN if it is not included in the filing Students without SSN

8 UC SHIP student members and covered dependents without SSN in the enrollment system will receive up to three letters requesting their SSN First round: Sent to UC SHIP dependents, June 26, 2015 Sent to mandatory students, July 17, 2015 Second round: For members who did not respond, the second round of letters will go out in November Third letter Early next year, after the filing deadline UC SHIP Communications

9  Certain individuals may be exempt from the ACA requirement to obtain qualified Minimum Essential Coverage  They will receive a statement of coverage but do not need to provide a SSN  To see a list of exemptions, go to www.irs.gov/Affordable- Care-Act/Individuals-and-Families/ACA-Individual-Shared- Responsibiity-Provision-Exemptionswww.irs.gov/Affordable- Care-Act/Individuals-and-Families/ACA-Individual-Shared- Responsibiity-Provision-Exemptions  Coverage exemptions should be reported on Form 8965 and filed with the individual’s IRS income tax form Exemptions

10 The Affordable Care Act and the individual shared responsibility requirement www.irs.gov/Affordable-Care-Act/Individuals-and-Families/Individual- Shared-Responsibility-Provision READ MORE

11  Contact your campus Student Health Operations Manager or Director  Contact Susan Mahoney at UCOP if pertaining to UC SHIP or general guidance on the regulation @ susan.mahoney@ucop.edu susan.mahoney@ucop.edu If you have further questions


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