Understanding the 1095 tax forms for healthcare.
Sometime in January or February you received a 1095 tax form in the mail. Wondering why? And wondering what to do with it? Here’s the scoop.
The Affordable Care Act requires nearly all Americans have health insurance. The 1095 tax forms provide proof that you and your family had health insurance during that year. Which form you get depends on whether you get your insurance through an employer or buy it yourself. The forms also list who had coverage and for how many months.
You get this form, also called the Health Insurance Marketplace Statement, if you or anyone else in your household had a Marketplace plan during the year. If you qualify, the Form 1095-A is also used to claim the Premium Tax Credit.
The government sends the form to you and the IRS. Here’s what else you need to know:
- If you see incorrect information on your 1095-A form, contact the Marketplace Call Center at 1-800-318-2596 before you file your taxes. Don’t file your taxes until your 1095-A form is accurate.
- Your 1095-A form is available online in your healthcare.gov account.
- You won’t get a 1095-A form if you bought a catastrophic or dental-only plan.
Learn more at healthcare.gov.
This form is provided for individuals enrolled in insurance coverage through an employer-sponsored plan or through an individual policy. The government has made changes to some of the forms that you need to file with your taxes. As of January 2020, you don’t need to file a Form 1095-B. Therefore, we no longer mail the form to you.”
You get the Employer-Provided Health Insurance Offer and Coverage form if your employer is an applicable large employer with 50 or more full-time employees. Here’s what else you need to know about Form 1095-C:
- Your employer sends it to you.
- It’s proof you met the Affordable Care Act requirement for the months you had coverage.
- It shows who had coverage during the year and when.
- If anything on your 1095-C form is incorrect, contact your employer.
- You don’t need to wait for your 1095-C form to file your tax return, although you should save it for your records.