Healthcare reform affects virtually all Americans, old or young, working or unemployed, single or married. The financial impact of the law will vary based on age and current health status. The goals of healthcare reform are to increase the number of insured and to increase the quality of care while trying to stabilize or reduce costs. The important thing for you to know is that NXP's medical plans meet all the legal requirements under the ACA.
The ACA requires every American to have health insurance—and just like you have paperwork to prove you have auto insurance, you may need a form to prove that you had health insurance in the prior tax year. The Form 1095 is a tax document that gives the IRS information about your health insurance. It helps the government verify if your employer offered you health insurance and that the coverage you were offered met the requirements under the ACA.
There are two types of the Form 1095 that may impact you. All employees will get the Form 1095-C. If you’re enrolled in a fully-insured plan like the Kaiser plan, you’ll also receive a Form 1095-B.
Benefits Tax Form Notice: The 1095 C form outlines your NXP benefit coverage during 2023 and is required by the IRS to be delivered to employees by March 1, 2024. The forms will be sent in the mail (postmarked) by February 10, 2024. To access your 1095 form after February 10, 2024, please visit www.nxp.bswift.com and log in using your benefits user ID and password. To access bswift from Microsoft MyApps visit https://myapps.microsoft.com/ . From the homepage, click on the employee file link. Find the 2023 1095C and select “view”.
If you have not received your 1095 C form by February 27, 2024, please contact the US Benefits team at usbenefits.office@nxp.com for an electronic copy of your form. If you need assistance locating your 1095 form online, please contact the Benefits Service Center at (888)375-2367.
The comprehensive health care reform law enacted in March 2010 (sometimes known as ACA, PPACA, or “Obamacare”).
The law has 3 primary goals:
NXP’s medical plans already meet all the legal requirements under the ACA. Our plans are more heavily regulated. Health care reform puts in place new administrative rules that we monitor closely. These rules translate into more resources spent to comply.
A service that helps people shop for and enroll in health insurance. The federal government operates the Health Insurance Marketplace, available at HealthCare.gov, for more states. When you apply for individual and family coverage through the Health Insurance Marketplace, you’ll provide income and household information. You’ll find out if you qualify for:
You certainly can shop in the marketplace. But if you are eligible for NXP benefits, you have affordable coverage available through NXP, and NXP pays about 85% of the cost of your coverage, you won't find a better deal on the exchange.