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What To Do If You Received Form 1095-B

You will receive Form 1095-B - which is a new form this year – from your health insurance provider if you had insurance for you or your family members. The term “health insurance providers” includes insurance companies, some self-insured employers, and government agencies that run Medicare, Medicaid or CHIP.

You are likely to get more than one form if: You had coverage from more than one provider, you changed coverage or employers during the year, or if different members of your family received coverage from different providers.

You Received A Form 1095-A . . . Now What?

Did you receive form 1095-A and are wondering what to do with it?

Form 1095-A, Health Insurance Marketplace Statement, provides you with information about your health care coverage if you or someone in your family enrolled in coverage through the Health Insurance Marketplace. Most individuals did not enroll in Marketplace coverage and will not receive this form.

The Marketplace may send you more than one Form 1095-A if any of these apply: Members of your household were not all enrolled in the same health plan, you updated your family information during the year, you switched plans during the year, or you had family members enrolled in different states.  The form is not new, but some people may receive it for the first time this year.

Your Guide to an IRS Audit

What You Need To Know About Taxable vs Non-Taxable Income

All income is taxable unless a law specifically states that it isn’t.  Taxable income includes money you earn, like wages and tips. It also includes bartering, an exchange of property or services. The fair market value of property or services received is normally taxable.

Some types of income are not taxable except under certain conditions, including:

Tax Tips, Resources & News

Our blog, news feeds, forms, and links to helpful resources are provided to help you find the answers you seek any time of the day or night.  Please call us at 330-779-0781 for assistance.  We're here to guide you through your business and personal accounting and tax questions and obligations.

Contact

  • Address:DJL Accounting & Consulting Group, Inc.
    Cider Mill Professional Center, Building C-102
    1570 S Canfield Niles Road
    Youngstown, Ohio 44515 
  • Phone:330 779 0781