Proof of health insurance on your tax return

February 3, 2016

Because of the health care law, you might receive some new forms this winter providing you with information about the health coverage you had or were offered in 2015.

These new health care forms provide information that you may need when you file your individual income tax return. These new forms will be provided to the IRS by the entity that provides the forms to you.

The new forms are:

  • Form 1095-A – Health Insurance Marketplace Statement. The Health Insurance Marketplace (Marketplace) sends this form to individuals who enrolled in coverage there, with information about the coverage, who was covered, and when.
  • Form 1095-B – Health Coverage. Health insurance providers (for example, health insurance companies) send this form to individuals they cover, with information about who was covered and when.
  • Form 1095-C – Employer-Provided Health Insurance Offer and Coverage. Certain employers send this form to certain employees, with information about what coverage the employer offered. Employers that offer health coverage referred to as “self-insured coverage” send this form to individuals they cover, with information about who was covered, and when.

Along with your W-2s and 1099s remember to provide Form 1095 to your 4Wealth tax preparer in order to avoid penalties on your tax return.


This article was featured in 4SIGHT. Sign up free to receive 4SIGHT, our monthly newsletter of helpful financial articles, tips, events, and monthly IRS deadlines. 

   

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