Taxes, 1095-A, B or C Forms and Your Health Insurance

March 4, 2016

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Lauren
Lead Copywriter

Tax season is upon us, and you may be wondering how your health insurance factors into your taxes.

Good question.

If you had health insurance for 2015, you may have received a form 1095-A, 1095-B or 1095-C from your health insurance carrier or employer. If you haven’t received your form, contact your employer or carrier.

If you did receive a form, here is what you need to do. Since we are not tax specialists, we recommend you go to the IRS’ page on Forms 1095-A, 1095-B and 1095-C for more details. However, here are some Cliff Notes from the web page:

“If you are expecting to receive a Form 1095-A, you should wait to file your 2015 income tax return until you receive that form. However, it is not necessary to wait for Forms 1095-B or 1095-C in order to file.

Some taxpayers may not receive a Form 1095-B or Form 1095-C by the time they are ready to file their 2015 tax return. While the information on these forms may assist in preparing a return, they are not required. Individual taxpayers will generally not be affected by this extension and should file their returns as they normally would.

Like last year, taxpayers can prepare and file their returns using other information about their health insurance. You should not attach any of these forms to your tax return.”

And according to the IRS, you will use the 1095-A, 1095-B and 1095-C forms to:

  • Use Form 1095-A to complete Form 8962 and reconcile advance payments of the premium tax credit or claim the premium tax credit on your tax return. Use Form 1095-A for information on whether you and your family members had coverage that satisfies the individual shared responsibility provision.
  • Use Form 1095-B for information on whether you and your family members had health coverage that satisfies the individual shared responsibility provision.
  • Form 1095-C provides information about the health coverage offered by your employer and, in some cases, about whether you enrolled in this coverage. Use Form 1095-C to help determine your eligibility for the premium tax credit.