Easy Guide to Affordable Care Act Forms – The 1095 Series

Tax time can be stressful and frustrating for EVEYONE.  Questions on what information you need, what forms to fill out, and when the deadlines are can be a constant worry for the average tax payer.  Below, the three forms for the affordable care act are easily explained and should make this particular part of tax preparation smooth and easy!

To get more information about this particular topic, or ANY tax preparation questions you may have, please call Padgett Business Services at (845) 834-4206 or email us at Shawn@HVTaxPros.com.

  1. Form 1095-A is for individuals who enrolled in healthcare THROUGH the Health Insurance Marketplace.  The Marketplace will send this form via electronically (if you signed up for that option) or through snail mail.  This form has information about your particular coverage, time of coverage, and who was covered during that time period.  The deadline for the Marketplace to send out Form 1095-A is February 1st, 2016.  If you are expecting to receive this form WAIT to file you income tax until you have it!
  2. Form 1095-B is for individuals who obtained health coverage through a provider.  Your particular health insurance provider will send this to you electronically or through regular mail.  This form will provide you with information about who was covered, the time period they were covered for and the type of coverage that was available.  The deadline for the provider to send out this form is March 31, 2016.
  3. Form 1095-C is for individuals who had employer based health insurance.  Employers will send/give this form to their employees.  The form should include who was covered, when they were covered, and the type of coverage they had.  The deadline for employers to get this form to their employees is March 31st, 2016.
  4. If you are expecting to receive Form 1095-B or Form 1095-C you should file your income tax as you normally do.  These forms are NOT required to file your return, although it would be helpful to your tax preparer to have them on hand.
  5. No Forms-Lucky you!  If you were enrolled in Health Care through Medicaid or a government assisted program you should not expect to receive any forms and you may file your income tax as you normally do! Still not sure?  Call us at (845) 834-4206 or reach us through email at Shawn@HVTaxPros.com.  Happy Tax Season!