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Do I Need A 1095 To File My 2015 Taxes?

 

I’m sure by now you’ve heard of the 1095 tax forms, but did you get one?  Do you need one?  What is it, anyway?  Here’s some information that will help you with the basics of the 1095 forms: 

  • 1095-A:  This is used if you purchased a plan through the Insurance Marketplace (a.k.a. Covered California).  You absolutely, positively, HAVE to have this in order to file your 2015 taxes.  The 1095-A is issued by the state and federal marketplaces to individuals who received an advanced premium tax credit (APTC/subsidy) during the year.  This form is required to be mailed out no later than February 1st.  If you are due a 1095-A and have yet to receive it, you can check your Covered CA account, call Covered CA, or call the agent who assisted you with securing your coverage.  This form is accessible through the “summary” section under  “documents and correspondence”.
  • 1095-B: This form is the one that covers “everything but the kitchen sink”.  It is used for Medicaid, CHIP, Medicare Part A, TRICARE, VA, etc.  You do not need this form to file your 2015 taxes.  This simply states which months the individuals in your household were covered with health insurance, so if you already know, no need to wait to file.  This was originally supposed to be mailed out by February 1st, but the IRS has extended the due date to March 31st, they can do that, they’re the IRS.
  • 1095-C: This is issued by large employers – the ones who are required to offer benefits (or else).  This form is unique because not only does it show what you enrolled in, but what plans were offered to you.  Just as with the 1095-B, this is not required  to file your 2015 taxes, as more than likely, you know whether or not you were covered and when.  If you are unsure and want to file before you receive this form, your employer or insurance company should be able to assist you.  Again similar to the 1095-B, this form was originally supposed to go out by February 1st, but that has been extended to March 31st
  • Amended Return Relief for 1095-B and C Recipients:  If your 1095-B or 1095-C has not been received and you want to file your 2015 taxes, go ahead!  However, you have to make sure that you cover all your bases to make sure that you are reporting as accurately as possible.  Call your insurance company to get enrollment dates, talk to HR, do what you can to make sure you’ve got as much info as possible. Once you receive your 1095, make sure you compare what is listed to what you reported.  If you made a mistake, it’s OK, there’s no need to amend your return.  The IRS has granted amended tax return relief to taxpayers whose 1095-Bs or Cs that were mailed after February 1st. 
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