Form 1095-B

Form 1095-B is an annual tax document that reports health insurance coverage. It is issued by health insurance providers to individuals and businesses. The form is used to help taxpayers determine their eligibility for the premium tax credit and other health care-related tax breaks.

The form includes information such as the taxpayer's name, address, and Social Security number; the name of the health insurance plan; the monthly premium cost; the amount of any premium tax credit or other health care-related tax breaks claimed; and the amount of any cost-sharing reductions received.

Form 1095-B is not filed with the IRS. Instead, it is used by taxpayers to complete their tax returns. If a taxpayer does not receive a Form 1095-B from their health insurance provider, they should contact the provider to request a copy.

Here are some additional details about Form 1095-B:

• The form is required for individuals and businesses that have health insurance coverage through the Health Insurance Marketplace or a government-sponsored health insurance program.
• The form is not required for individuals and businesses that have health insurance coverage through an employer-sponsored plan.
• The form is due on February 28, 2023, for tax year 2022.
• If a taxpayer does not file Form 1095-B with their tax return, they may be subject to penalties.

Form 1095-B is an important document for taxpayers who have health insurance coverage. It can help taxpayers determine their eligibility for tax breaks and avoid penalties. If you have any questions about Form 1095-B, you should consult with a tax professional.