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Healthcare Tax Forms: The 1095 Family

Those that bought health insurance from the Marketplace may need to determine if they are required to make shared responsibility payments or are eligible for an additional premium tax credit. A 1095 form is required to complete Form 1040, U.S. Individual Income Tax Return, Form 8962, Health Coverage Exemptions, and to figure your shared responsibility payment.

The three health care forms in the 1095 family are:

  • Form 1095-A
  • Form 1095-B
  • Form 1095-C

Employers and health care coverage providers send these forms. Here are the details about each form:

Form 1095-A, Health Insurance Marketplace Statement

This form is provided by health care coverage providers. It includes information about the amount of coverage you have, tax credits that you were eligible for, and if adjustments to any tax credits payments were made. It also includes information about the recipient, coverage household, and household details.

The information provided on this form is used to fill out an individual tax return. Form 1095-A is also needed to file the Premium Tax Credit form, as it includes any claims to premium tax credits.

Only Form 1095-A is to be provided in 2015. Therefore, for the 2016 filing season, health care insurers will receive only 1095-A. Forms 1095-B and 1095-C are required to be sent starting 2016.

Form 1095-B, Health Coverage

Health care insurance providers and employers with fewer than 50 full-time employees send Form 1095-B to those with non-marketplace coverage or coverage from more than one source.

The form includes information on the type of coverage you have, the dependents that are covered, and the duration of the coverage. This information is used to report the Minimum Essential Coverage of you and your dependents.

According to the IRS, for year 2015, not all insurance providers are required to file 1095-B or 1095-C. Transition relief is provided for 2014 to relieve providers from the reporting requirements.

Form 1095-C, Employer-Provided Health Insurance Offer and Coverage

Employers with 50 or more full-time or full-time equivalent employees file Form 1095-C. The form includes information on the coverage offered and whether you chose to participate. This form is used to fill out your tax return.

If the recipient of the form is fully insured, they receive the form from the insurer and only need to fill out Section I and II of Form 1095-C. If self-funded, every section needs to be filled by the recipient.