Make certain you hold onto your 1095-A from the MarketPlace for your tax records.
It’s extremely important to gather your health coverage documentation for the tax filing season.
Under the Tax Cuts and Jobs Act, passed December 22, 2017, the amount of the individual shared responsibility payment is reduced to zero for months beginning after December 31, 2018.
Beginning in tax year 2019, Form 1040 does not have the “full-year health care coverage or exempt” box and Form 8965, Health Coverage Exemptions, will no longer be used. You need not make a shared responsibility payment or file Form 8965, Health Coverage Exemptions, with your tax return if you don’t have minimum essential coverage for part or all of 2019.
You may receive multiple information forms that you can use to complete your tax return and will keep with your tax records.
The information forms are:
• Form 1095-A, Health Insurance Marketplace Statement
• Form 1095-B, Health Coverage
• Form 1095-C, Employer-Provided Health Insurance Offer and Coverage
If you or your family received advance payments of the premium tax credit through the Health Insurance Marketplace, you must complete Form 8962, Premium Tax Credit with your return. You will receive Form 1095-A, Health Insurance Marketplace Statement, which provides you with information about your health care coverage. You should wait to file your income tax return until you receive that form. Use the information from Form 1095-A to complete Form 8962 to reconcile advance payments of the premium tax credit or – if you are eligible – to claim the premium tax credit on your tax return. Filing your return without reconciling your advance payments will delay your refund and may affect future advance credit payments.
Health insurance providers – for example, health insurance companies – will send Form 1095-B to individuals they cover, with information about who was covered and when. Certain employers will send Form 1095-C to certain employees, with information about what coverage the employer offered.
The IRS has posted a set of questions and answers about the Forms 1095-B and 1095-C. The questions and answers explain who should expect to receive the forms, how they can be used, and how to file with or without the forms.
You should not attach any of these forms to your tax return.
Documentation that you can gather in advance:
• Proof of Insurance
• Form 1095-A, Health Insurance Marketplace Statement
• Form 1095-B, Health Coverage
• Form 1095-C, Employer-Provided Health Insurance Offer and Coverage
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