The Form 1095 is a tax document that gives the IRS information about your health insurance. It helps the government verify whether your employer offered you health insurance and that the coverage you were offered met the requirements under the ACA. Another important thing for you to know is that a Form 1095 tax document will be provided each plan year. You can access the form electronically or elect to have a paper copy mailed to you.
The Form 1095 proves to the IRS that you had health insurance every month of the previous year. If you had medical coverage from Synopsys for all 12 months of the prior year, your Synopsys Form 1095 will indicate it. If you had medical coverage through Synopsys for only part of the year (e.g., you were hired in the middle of the year), your Synopsys Form 1095 will indicate the specific months you were covered, and you should expect to receive another Form 1095 from your previous employer (if applicable) for the other months. If you were covered under someone else’s plan, like your spouse’s, you’d be listed on their Form 1095.
There are two types of Form 1095 that may affect you. All employees will get the Form 1095-C. You can elect to receive your Form 1095-C electronically. If you don’t, a paper copy will be mailed to you. To view, download, or print your Form 1095-C, log on to Benefitsolver, click your name in the top right corner, select Personal Documents, and click the 1095-C Employee Statement link.
If you’re enrolled in a fully insured plan like the Kaiser plan, you’ll also receive a Form 1095-B, which Kaiser will mail to you. Contact Kaiser if you need a copy of your Form 1095-B.
When you receive your form, check it for accuracy (pay special attention to the names, addresses, and Social Security numbers for all individuals covered under your health care plans), and then hold onto it.
Note: The 1095-C is a tax form that provides information about health coverage that is available to you as an employee, but it is not necessary to attach Form 1095-C to your tax return. Just keep it with your tax records.
If you see errors on your Form 1095 issued by Synopsys or don’t receive yours by early March each year, submit a Synopsys Assist ticket.