Affordable Care Act-ACA

The Affordable Care Act puts consumers in charge of their healthcare and allows the American people to make informed decisions about their health.  The federal tax penalty for not being enrolled in health insurance was eliminated in 2019, however certain states and jurisdictions have enacted their own health insurance mandates.

You may receive one or more forms providing information about the health care coverage you had or were offered during the previous year. These health care forms provide information that you may need when filing your return. Similar to a W-2 and 1099, these forms will be provided to the IRS by the entity that provides the form to you. If you had coverage at any point throughout the year,  you will receive one or more of the form 1095 below:

1095-A: Health Insurance Marketplace Statement for individuals who enrolled in coverage through the Health Insurance Marketplace, with information about the coverage, who was covered and when.

1095-B: Health Coverage through a Health Insurance provider/company that provides information on who was covered and when.

1095-C: A statement of Employer-Provided Health Insurance Offer and Coverage. Certain employers will send this form to certain employees with information about who was covered and when.

*The annual deadline for all 1095 Forms to be provided is January 31.

Sources: IRS.gov, cnbc.com