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
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
Making Insurance Affordable
In an earlier post we defined adequate and affordable health insurance, noting that beginning on January 1, 2014, the Affordable Care Act (ACA) states that those people whose employer does not offer adequate and affordable group coverage will be able to purchase insurance on the exchange. One of the ways the new law attempts to make insurance “affordable” is through government subsidy for plans bought on the exchange. Last week,