A top question we are seeing is about when Health Insurance Marketplace Statement 1095A form will be available. We decided to take a few minutes and see what information we could find regarding that form. What we found on IRS.gov is that there are actually 3 separate 1095 forms. To help make sense of the forms let me explain where each one comes from.
-1095A is from the Marketplace you signed up with.
-1095B is from your insurance company
-1095C is from you Employer
While searching I also came across something else that is interesting to us, if you are impatient and do not want to wait to receive your 1095A in the mail you can also get it by visiting your Marketplace’s website.
Not everyone needs or will receive a 1095A. The 1095A is for people who received their health care coverage through the Marketplace only.
The Health Care form 1095A the Marketplace statement. If you did not purchase your health insurance through the marketplace you will not receive a 1095A Health Insurance Marketplace Statement.
If you have private health insurance the company will provide you with a 1095B Health Coverage statement that provides who was covered and when the coverage was in effect.
If neither of those apply to you and you receive health care coverage from your Employer your employer will send out a 1095C Employer-Provided Health Insurance Offer and Coverage. The 1095C also states who was covered under the policy and when the coverage took effect.
All of the above forms should be sent out by February 1, 2016. Form 1095A, 1095B, or 1095C is needed to complete IRS Form 8962 Premium Tax Credit (PTC). The PTC is required if you received a credit through advanced payment credits or to claim the Premium Tax Credit.
While everyone has to report whether they have insurance when filing their income taxes, you may or may not have additional forms to file with it. If you received the Advance Tax Credits or elected to receive your Tax Credits as part of your year end tax refund you will have to file the 8962 and will receive a 1095A. If you received Medicaid, Medicare or other insurance you only need to fill in that line of your income tax return.