This post was originally published in January 2017, and updated in 2018, 2019, 2020, and 2021. If you had health insurance during 2020, you can expect to receive IRS Form 1095 in January or February of 2021. The 1095 is your proof of coverage. If you have not received it by mid-February, please contact either the Marketplace, your insurance carrier, or your plan sponsor, depending on how you got your
Health Insurance and Your 2015 Tax Return
The Affordable Care Act requires most Americans to have health insurance or be subject to a tax penalty. In order to prove you had health insurance in 2015, you will receive one of the following tax forms: IRS 1095-A Sent to you by the Marketplace if you purchased family or individual coverage through your state’s Marketplace (on-exchange). IRS 1095-B Sent to you by your insurance carrier if you purchased family
Special Enrollment Period for the Uninsured During Tax Season
Most Americans must have health insurance. It’s the law. But as the 2014 tax filing season gets underway, you may be caught off guard by an extra tax of $95 or more due with your 2014 tax return. That’s because if you went for three consecutive months or more during 2014 without health insurance, you will be hit with a penalty tax (unless you are exempt). Here is the amount
Corrected Tax Form 1095-A
If you bought health insurance in 2014 through the federal health insurance marketplace (aka, healthcare.gov) AND you collected a subsidy from the government to help you pay for your coverage, then you should have received a tax form 1095-A in the mail during late January or early February, 2015. IRS Form 1095-A – Health Insurance Marketplace Statement — is new for the 2014 tax season, and provides details of how
Tax Filing with the Affordable Care Act
With January behind us, it’s time to start thinking about filing your 2014 income taxes. By now, you should have received most, if not all, of your tax forms and notices from your employer(s), banks, mortgage company, financial institutions, etc. — and, if you bought health insurance on the exchange — the Marketplace. As we posted several weeks ago, the upcoming tax season promises to be complicated for those who
