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Q and A about Health Care Information Forms for Individuals

Health-Care

(Forms 1095-A, 1095-B, and 1095-C) provided By IRS

1. Will I receive any new health care tax forms in 2016 to help me complete my tax return?

Starting early in 2016, you may receive one or more forms providing information about the health care coverage that you had or were offered during the previous year. Much like Form W-2 and Form 1099, which include information about the income you received, these new health care forms provide information that you may need when you file your individual income tax return. Also like Forms W-2 and 1099, these new forms will be provided to the IRS by the entity that provides the form to you.

The new forms are:

• Form 1095-A, Health Insurance Marketplace Statement. The Health Insurance Marketplace (Marketplace) sends this form to individuals who enrolled in coverage there, with information about the coverage, who was covered, and when.

• Form 1095-B, Health Coverage. Health insurance providers (for example, health insurance companies) send this form to individuals they cover, with information about who was covered and when.

• Form 1095-C, Employer-Provided Health Insurance Offer and Coverage. Certain employers send this form to certain employees, with information about what coverage the employer offered. Employers that offer health coverage referred to as “self-insured coverage” send this form to individuals they cover, with information about who was covered and when.

2. When will I receive these health care tax forms?

The deadline for the Marketplace to provide Form 1095-A is February 1, 2016. The deadline for insurers, other coverage providers and certain employers to provide Forms 1095-B and 1095-C has been extended to March 31, 2016. Individual taxpayers will generally not be affected by this extension and should file their returns as they normally would.

3. Must I wait to file until I receive these forms?

If you are expecting to receive a Form 1095-A, you should wait to file your 2015 income tax return until you receive that form. However, it is not necessary to wait for Forms 1095-B or 1095-C in order to file.

Some taxpayers may not receive a Form 1095-B or Form 1095-C by the time they are ready to file their 2015 tax return. While the information on these forms may assist in preparing a return, they are not required. Individual taxpayers will generally not be affected by this extension and should file their returns as they normally would.

Like last year, taxpayers can prepare and file their returns using other information about their health insurance. You should not attach any of these forms to your tax return.

4. What are the health care tax forms that I might receive and how do I use them?
Form 1095-A, Health Insurance Marketplace Statement Individuals who enrolled in health coverage for themselves or their family members through the Marketplace

Form 1095-B, Health Coverage

Individuals who had health coverage for themselves or their family members that is not reported on Form 1095-A or Form 1095-C.
Form 1095-C, Employer-Provided Health Insurance Offer and Coverage Certain employees of applicable large employers (See next column).

5. How will I receive these forms?

The Marketplace, health coverage providers and applicable large employers will mail (or hand deliver) these forms to you or provide them electronically to you, if you have consented to electronic delivery.

6. My employer or health coverage provider has suggested that I opt to receive these forms electronically rather than on paper. Are they allowed to ask me that?

Yes. Employers and health coverage providers may ask for your consent to receive the forms electronically. This is entirely acceptable and may be more convenient for you. Electronic forms provide the same information that is provided in the paper forms.

7. Will I get at least one form?

You may. If you were enrolled in health coverage for 2015, you should receive a Form 1095-A, 1095-B, or 1095-C. In addition, if you were an employee of an employer that was an applicable large employer in 2015, you may receive a Form 1095-C. If you don’t fall in either of these categories, you won’t receive a form.
To Be Continued.

For Health, Life and Retirement Planning contact Sudhir Mathuria @ 713-771-2900.

Sudhir-Mathuria

Sudhir Mathuria

Contact:

Sudhir Mathuria
Licensed Professional
Health Life 360
6650 Southwest Freeway
Houston TX 77074
713-771-2900
www.MyMedicarePlanning.com


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