By March 31, all employers are expected to have disseminated the 1095 tax form to all employees. The new employee tax form according to the new health car law will cater to the millions of americans who have health care coverage through their (big) employers. They will be receiving various different or somewhat unfamiliar form that is widely distributed. Employers are required to send these forms to individuals who enrolled in the QHP ( Qualified health Plan) through the Health Insurance Marketplace. Since americans are still unaccustomed to filing this form, the IRS (Internal Revenue Service) ensure that employers will provide health insurance to all workers otherwise pay a penalty as per the Affordable Care Act.
There are 3 different types of 1095 forms:
1. Form 1095-A, Health Insurance Marketplace Statement.
2. Form 1095-B, Health Coverage.
3. Form 1095-C, Employer-Provided Health Insurance Offer and Coverage.
The deadline for insurers, other coverage providers and certain employers to provide Forms 1095-B and 1095-C has been extended to March 31, 2016. Only the Form 1095-A, should you wait to file your 2015 income tax return until you receive that form.
If you need further clarifications on this matter, you can refer to this Q&A about health care information provided by irs.gov.
