I know my employer needs to file one, but do I need to file one in my return? I cannot understand a damn thing that the IRS has put out on this. As far as I can tell, it seems like not but I’m really not in the mood to have the IRS yell at me for not including that form.
(Asked because I have every other form I need and I’d like to file my taxes… but the likelihood I get this one any time super soon from my employer is low.)
No need to send to the IRS - that is what I thought, but verified on Wiki:
Form 1095 is sent to the individual by whoever provides them with health insurance, be it the health insurance marketplace for Form 1095-A, a small self-funded group or small business for Form 1095-B, or by their (50+ full-time employees) employer for Form 1095-C. Form 1095 is only sent to the individual and for his or her own reference; the individual does not need to send Form 1095 to the IRS, their employer, or anyone else for that matter.[5]
BLESS. Thank you, G.
Also how did I not think to look at Wikipedia. Wikipedia always has the answers.
I think I actually get my 1095 AFTER the tax filing date - ugh.
I got mine quickly because my insurance came through healthcare.gov - but they’re mostly important if you were getting a premium tax credit for an exchange plan or might qualify for one but didn’t take it (because your income changed). For example, I got $234 back in premium tax credits I didn’t take because my income was lower than my predicted income.
You don’t need to send them, but you will want to submit the #s if you think you may have a change in premium tax credit.
No tax credits for me (insurance is fully provided by my employer), but always good to know more. If you receive a 1095A, presumably you need to file that with your taxes in support of any tax credits you might claim, yes?
Most people receive the tax credits on a monthly basis - these lower your premium you pay, based on your income for people that are low- and middle-income- but at the end of the year you square up. So yes, if you do get exchange health insurance and your income is under 400% of the poverty line ($48,560 for a single person, $100,400 for a family of 4), then you need file it with your taxes, though if you file online you don’t need to upload it, just submit the #s.