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HUSKY Update Kristin Dowry, DSS Mike Ba rile, DSS Vanessa Gervais, DSS Dan Patterson, DSS February 26th, 2016 1095B Tax Forms Update 1095B Updates In early December 2015, DSS sent a heads-up flyer

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How to fill out 1095-b tax forms

How to fill out 1095-B tax forms:

01

Gather the necessary information: Before starting to fill out the form, make sure you have all the required information at hand. This may include your personal information, such as your name, address, and social security number, as well as information about your health insurance coverage.

02

Fill out the form accurately: The form itself consists of several sections where you will need to provide information about your coverage. This may include details such as the start and end dates of your coverage, the name of the insurance company or employer providing the coverage, and the identification number associated with your policy.

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Review and double-check: Once you have completed filling out the form, take a moment to review it thoroughly. Ensure that all the information you have provided is accurate and matches the supporting documents you have. Double-checking can help avoid any potential errors or discrepancies.

Who needs 1095-B tax forms:

01

Individuals with health coverage through the government marketplace: If you have health insurance coverage through the government marketplace, you will likely need to receive Form 1095-B. This form is sent to individuals who receive coverage through Medicaid, the Children's Health Insurance Program (CHIP), or other government-sponsored programs.

02

Individuals with employer-provided health insurance: If you receive health insurance coverage through your employer, your employer will generally send you Form 1095-B. This form verifies that you had minimum essential coverage for the year and is used for reporting purposes to the IRS.

03

Individuals with other types of health coverage: There are other situations where you may also receive Form 1095-B. For example, if you have private health insurance coverage outside of the marketplace or have coverage through a self-insured employer, you may receive this form.

Overall, it is important to understand that the 1095-B tax form is used to report health insurance coverage to the IRS. Ensure that you accurately fill out the form based on your specific circumstances, and keep a copy for your records. If you have any doubts or questions about the form, consider consulting a tax professional or referring to the IRS guidelines and instructions.

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