Get to know Form 1095-B and how members can get theirs
Form 1095-B is a health insurance tax form used to report certain information to the IRS and taxpayers about individuals who are covered by Minimum Essential Coverage (MEC).
What are the IRS reporting requirements?
The ACA requires individuals to obtain and report that they had MEC or otherwise qualify for an exemption from the requirement. However, there is no longer an individual tax penalty following the 2017 Tax Cuts and Jobs Act. Individuals may need Form 1095-B to demonstrate MEC for nontax-related purposes.
The ACA also requires certain employers to offer all full-time employees and their dependents MEC to meet affordability and minimum value standards. This is known as the Employer Shared Responsibility requirement. Certain employers may be subject to penalties if they do not offer all full-time employees and their dependents MEC to meet affordability and minimal value standards or if they did not otherwise qualify for a safe harbor. Employers are encouraged to consult their tax advisor regarding their own reporting requirements.
Who will receive Form 1095-B from Blue KC?
We will provide Form 1095-B to the IRS and to members upon request. Blue KC is not required to provide Form 1095-B to employers and, due to member privacy concerns, will not provide copies of Form 1095-B to employers.
How can members request Form 1095-B?
Members can request the form on their member portal at MyBlueKC.com, scroll to the bottom of the page, click Find a Form, click 1095-B Tax Form. They can also call Customer Service at the number on their member ID card.
What will Blue KC provide to the IRS?
Blue KC will report to the IRS information regarding coverage provided to direct pay individuals and employees/dependents of fully insured and cost plus groups. This information will be provided using Form 1095-B and will be transmitted to the IRS along with Form 1094-B.
When will Blue KC file Form 1095-B with the IRS?
Form 1095-Bs must be filed with the IRS by February 28, 2025, for paper filings and by March 31, 2025, for electronic filings. Blue KC intends to file several days before the March 31 filing date, but the exact date will depend on the number of corrections received and how long it takes to process them.
Will COBRA participants have access to Form 1095-B from Blue KC?
COBRA participants will receive a 1095-B if the coverage is through a fully insured or cost plus group. This is because employer-sponsored coverage, including COBRA continuation coverage, is considered MEC. Blue KC, as the provider of MEC, will report this coverage to the IRS and provide Form 1095-B to members covered under COBRA.
Will self funded groups receive Form 1095-B from Blue KC?
Blue KC will accommodate and provide an ASO employer report to assist employers with its annual IRS reporting obligations for groups on level funded ASO plans. Blue KC does not provide tax or legal advice, and employers should consult their own tax or legal advisors on formal 1095 documents. This reporting will be provided to brokers upon request.
Please note that Blue KC does not provide Form 1095-B to ASO employees but only the report to assist employers.
Does Form 1095-B get filed with an individual tax return?
Form 1095-B is not filed with an individual’s tax return. The information from Form 1095-B is used to fill out an individual’s tax return and should be retained for their personal tax records. This is not to be construed as tax advice. Individual members should seek their own tax counsel for definitive advice.
Can I see what Form 1095-B looks like?
You can find a blank copy here. Form 1095-B is a standardized IRS form, much like the W-2. Blue KC will populate the fields with a member’s information.
