Health insurance and taxes? In tax season, don’t forget this duo goes together. One of the important documents you’ll need to prepare your taxes is your 1095 form. It shows you had health care coverage in 2017.
Know Your ABCs
There are several types of 1095 forms, including 1095-A, 1095-B and 1095-C, but they all provide similar information that shows your insurance coverage during the 2017 tax year. You must use this form when you file your 2017 federal tax return to answer questions about minimum essential coverage, as required by the Affordable Care Act.
Missing in Action
If you haven’t received a form yet or you misplaced it, call the customer service number on the back of your member ID card to request a reprint. If you were covered by a self-insured group plan, you must request a copy from your employer.
File This, Save That
The Internal Revenue Service (IRS) recommends you do not attach your 1095 forms to your tax return. You should keep it with your tax records.
Get your explanation of benefits (EOB) statements or claims information online through Blue Access for MembersSM. EOBs and other claims information document the medical expenses you paid during the year. While you do not need to submit your EOB or other claims statements with your taxes, you should keep it as documentation for tax purposes and to show health care spending account reimbursements and transactions.
Blue Cross and Blue Shield of Montana does not provide legal or tax advice, and nothing herein should be construed as legal or tax advice. These materials, and any tax-related statements in them, are not intended to be used, and cannot be used or relied on, for the purpose of avoiding tax penalties. Tax-related statements, if any, may have been written in connection with the promotion or marketing of the transaction(s) or matter(s) addressed by these materials. You should seek advice based on your particular circumstances from an independent tax adviser regarding tax consequences of specific health insurance plans or products.