Why am I receiving IRS Form 1095-B?

Receiving Form 1095-B typically means that you had minimum essential health coverage at some point during the tax year. Form 1095-B is used by insurance providers, government-sponsored programs, and certain employers to report information about the health coverage they provided.

Here is a breakdown of the information typically included in Form 1095-B:

1. Identifying Information:
The form includes your name, address, and Social Security Number (SSN) or Taxpayer Identification Number (TIN).

2. Coverage Information:
Details about the health coverage you had during the tax year, including the months when coverage was effective.

3. Provider Information:
Information about the entity providing the health coverage, such as an insurance company, employer, or government program.

If you received Form 1095-B, it serves as documentation of your health coverage, which was required under the Affordable Care Act (ACA). While the individual mandate penalty for not having minimum essential coverage was reduced to zero starting in 2019, individuals may still need the information on Form 1095-B to verify their health coverage for other purposes, such as eligibility for premium tax credits or certain exemptions.

When you file your income tax return, you may use the information from Form 1095-B to confirm your compliance with the ACA's individual mandate or to report any exemptions you may qualify for.

It's important to keep this form for your records and use the information when filing your taxes.