The tax season is coming to an end… have you received a Form 1095 that certifies that you have health insurance?
U.S. health insurance expert Kenny Chang explains the three versions of Form 1095—A, B, C, each for a different reason. If you don’t receive the Form 1095 before the tax season ends, then take a look at the following options.
Option 1: If you’ve purchased health insurance from Covered California, then you will receive Form 1095-A from Covered California. They send this form at the beginning of January. If you have not received it yet, then you can contact an insurance agent or call Covered California to send you a form. If the information on Form 1095-A is incorrect, you can file an appeal, but that can take up to 60 days. Since there is a deadline, you can file the tax return first and change the information later, or discuss with your accountant and find other ways to approach it.
Option 2: For companies with fewer than 50 full-time employees that offer group health insurance, Medi-Cal or Medicare members, or those who purchased insurance through insurance companies, will receive Form 1095-B from their employers. The latest to send out these forms is March 31. It’s for reference only so it doesn’t need to be attached to the tax return.
Option 3: For large companies with 50 or more full-time employees, employees use Form 1095-C to report the health care coverage offered to them by their employer. The latest to send out these forms is also March 31. If you haven’t received a Form-1095 and are in a hurry to file your taxes, you can provide your health insurance ID card and proof of monthly premium payments to your accountant.
If you are our customer at KCAL Insurance Agency and have not received Form 1095 or have corrections you would like to make, please feel free to contact our health insurance department. We would be more than happy to help you with this process!