Maintaining Health Insurance Coverage Documentation for the Tax Filing Season

Gathering documents and maintaining well-organized records make it easier to prepare a tax return. They can also help provide answers if the IRS needs to follow-up with you for more information.

 

You will not need to send the IRS proof of your health coverage. However, you should keep any documentation with your other tax records. This includes records of your family's employer-provided coverage, premiums paid, and type of coverage. You should keep these - as you do other tax records - generally for three years after you file your tax return.

 

When preparing 2014 tax returns, most people will simply have to check a box to indicate they and everyone on their tax return had health care coverage for the entire year. You will not need to file any additional forms, unless you are claiming the premium tax credit or a coverage exemption.

 

You will attach Form 8965, Health Coverage Exemptions to your tax return to claim a coverage exemption. Do not attach supporting documentation to the tax return. If you applied for an exemption from the Marketplace and received an Exemption Certificate Number, or you have other documentation to support your exemption claim, keep these with your tax records.

 

You will attach Form 8962, Premium Tax Credit to your tax return to claim the credit. Do not attach the Form 1095-A, Health Insurance Marketplace Statement that you use to complete Form 8962. Keep Form 1095-A with your tax records.

More Information

To find other tax-related information about the health care law, visit irs.gov/aca. To find information about Form 1095-A and tools that will help in the completion of the tax return, visit Healthcare.gov/taxes.

Please feel free to contact us if you have any questions. 

Thank you, 
George Knox, CLU, ChFC
214.695.2904 (mobile) 214.443.1400 (office) | george@insuranceisboring.com

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