#form1095a

How Does Form 1095-a Affect My Taxes? | Form 1095-A | Meru Accounting

For filing tax year 2014, most tax filers will be receiving Forms 1095-A or 1095-B.  if You purchased health insurance via the Marketplace aka Obamacare, you will receive a Form 1095-A.  If your employer provided you with health insurance, you will receive a Form 1095-B. 

Here is the caveat, Form 1095-B is optional for 2014, but required for 2015.  The IRS hopes that Form 1095-B will be provided to tax payers, but does not necessary required health insurers to issue it.  

Unless you have minimum essential coverage or qualify for an exemption, you’ll pay a penalty, also known as a shared responsibility payment, on your tax return if you’re uninsured for three or more months in 2014.  The penalty is 1% of your 2014 income or $95 per adult – whichever is higher – and $47.50 per uninsured dependent under the age of 18, up to $285 total per family.