What do I need to know about the new IRS tax form 1095-B?

The 1095-B is an IRS tax form required under the Affordable Care Act (ACA). Starting with tax year 2015, if you or a family member were covered under a government-approved medical health plan at any time during the year, then your health coverage provider must produce this form, indicating which months such coverage existed, and for whom. 

A copy will be sent to…

  1.  You (the H&W Participant) no later than March 31, 2019, and
  2.  The IRS, no later than June 30, 2019.

This form serves two main purposes. As applicable, it will help you, as a taxpayer…

  1.  Document what medical coverage you and your family members had (if any), and
  2.  Determine if you qualify for an ACA exemption, or if you owe additional tax. 

Be sure to retain this form with all your other supporting tax documents. You should not send it in with your tax return. If someone helps you prepare your tax return, you should make sure they are aware of this form. Ask your tax preparer or advisor if you have specific questions while filing your taxes. Everyone’s tax situation is different, and Carpenters Southwest Administrative Corporation is not able to give you tax advice. Also, be sure to read the form's "Instructions for Recipient," as well as any supplemental inserts. Visit the IRS web page on this topic to learn more.