Form 1095-B or the Health Coverage Form
As stated above, the individual mandate has gone away for your 2019 return. This means that you will no longer pay a penalty if you did not have health insurance in 2019. You are no longer required to report your health insurance on your return UNLESS you or a family member were enrolled in health insurance through the Marketplace and advance payments of the Premium Tax Credit were made to your insurance company to reduce your monthly premium payment. When you prepare your tax return on eFile.com, you can easily report and efile your healthcare information with your return. When you start a free tax return on eFile.com, we will automatically report the required information regarding your health insurance and the Premium Tax Credit on the correct tax forms.
At eFile.com, we cover all the healthcare tax forms on the following pages:
- Form 1095-A-Health Insurance Marketplace Statement
- Form 1095-B-Health Coverage (this page)
- Form 1095-C-Employer-Provided Health Insurance Offer and Coverage
- Form 8962-Premium Tax Credit
- Form 8965-Health Coverage Exemptions
Form 1095-B, Health Coverage, lists information about your health insurance if you and/or your family member(s) are enrolled for coverage through an insurance provider for some or all of the year via your employer, and you have been covered by minimum essential coverage. Minimum essential coverage includes government sponsored programs (Medicare, Medicaid, CHIP, Tricare, etc.), some eligible employer-sponsored plans, individual plans purchased via the Marketplace, and coverage deemed as minimum essential via the Department of Health and Human Services.
The 1095-B form is generally provided by employers who have less than 50 employees, or small businesses. The Form 1095-B is used to report health insurance information to the IRS and to taxpayers about their coverage. This can affect your eligibility for the Premium Tax Credit so it is important to report this information with your tax return. On eFile.com, it's easy to report your 1095-B information. Just answer a few simple questions about your health care coverage and the eFile.com tax app will automatically check a box on your return indicating you had full-year health insurance coverage.
A healthcare provider can be one of the following:
- an insurance company not in the Marketplace
- a government agency such as Medicare and Medicaid
- an employer who provides self-insured coverage (this is a health insurance plan offered by or on behalf of an employer to an employee)
You may receive more than one 1095-B form if one of these situations apply to you:
- you have coverage from more than one provider
- you changed employers or coverage during the year
- different family members received coverage from different providers
How to Use Form 1095-B
Form 1095-B includes information about your health coverage, such as who was covered and the months when the coverage was in effect. You can use it to report your health insurance information on your tax return, but you don't need to include it with your tax return. Keep the form with your tax records. During the efile process, you will be asked questions about your health coverage and the app will prepare the forms if you need to report your healthcare information for the Premium Tax Credit.
You might not need to file a tax return only because you received the form. However, you may need to file a tax return if your income is within the IRS filing requirements for your filing status and age. Use our FILEucator tax tool to determine whether or not you need to file a tax return.
Filing Your Return Without Form 1095-B
The IRS does not require you to include Form 1095-B with your tax return, so you can keep it for your records. However, the IRS will receive a copy of your 1095-B form, so make sure that you report your information accurately from the 1095-B on your return. The eFile.com application will help you do this by checking your return for errors after you enter your health insurance information. You should generally receive the form by the beginning of March 2020 for 2019 Tax Returns. However, if you do not receive the form, don't worry, as you do not need to wait for the form in order to prepare and efile your tax return, especially if you already know your health insurance information.
Reporting Your 1095-B on Your Return
During the Healthcare section of the eFile.com tax interview, answer Yes for the first question on having health insurance for the entire year and No for the second question for having insurance through the Marketplace. This information will be used to calculate any amounts needed to be reported for the Premium Tax Credit and prepare the necessary forms.
If You Are Not Covered By Health Insurance All Year
If there is information in Part III of Form 1095-B stating that you did not have health insurance for the entire year, review this information to determine if there are months when you or your family members did not have coverage. If there are months you did not have coverage, you can go ahead and report the information as it pertains to the Premium Tax Credit.
More Information on Health Insurance and Taxes