IRS Form 1095-B verifies healthcare coverage
Thursday, January 26, 2017
Just like you receive a W-2 from your employer, TeamCare issues a Form 1095-B to help you when preparing your federal income tax return. Form 1095-B provides information on the type of coverage you and your dependents had in 2016 to ensure minimum essential standards of healthcare coverage were met as outlined by the Affordable Care Act (ACA). Some call it your “proof of insurance.”
While the information on Form 1095-B may assist you in preparing a return, it is not required. Like last year, taxpayers can prepare and file their returns using other information about their health insurance.
What is minimal essential coverage? The ACA mandates that individuals and their dependents must have health insurance that meets guidelines set by the government, or potentially pay a penalty.
Does TeamCare provide minimum essential coverage? Yes. TeamCare is required by federal law to send you the form, and report the information to the IRS.
Find more information on the Form 1095-B FAQ page.