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Showing posts from August, 2015

Health Coverage and IRS Forms

Question:
I expect to have health insurance coverage for some or all of this year. What form(s) should I expect to receive in January?
Answer:
More than likely you will receive one or more Forms 1095-A, 1095-B, or 1095-C. You will use the Forms 1095 to report your Minimum Essential Coverage on your tax return. What forms you receive will depend on where you received health insurance coverage and on your size of employer.
You will receive Form 1095-A if you have coverage through the Federal or a State Marketplace.*You will receive Form 1095-B if you receive coverage from your employer who has fewer than 50 full-time employees or if you self-purchased coverage through the individual insurance market (not the Marketplace).*You will receive Form 1095-C if you receive coverage from your employer who has 50 or more full-time employees.*
You should receive your form(s) each year by January 31. But certain employers could request a 30-day extension.
Something to keep in mind… you could receive a…