Form 1095-B is a tax form used to report information about an individual's health coverage as required by the Affordable Care Act (ACA). The form is completed by certain entities, such as insurance companies, employers, or government agencies, and is used to communicate vital information to the IRS and the individual regarding their health insurance coverage during the tax year. Here are some relevant points regarding who should complete Form 1095-B:
1. Health Insurance Providers: Insurance companies or other providers of minimum essential coverage must complete Form 1095-B. This includes private insurance companies, government-sponsored programs like Medicare, Medicaid, or CHIP, and employers who self-insure.
2. Employers: If an employer provides health coverage to their employees, they may be required to complete Form 1095-B. This applies especially to small employers who offer self-funded health plans.
3. Government Agencies: Certain government agencies, such as Medicaid agencies or the Children's Health Insurance Program (CHIP), are responsible for completing Form 1095-B to report coverage provided through these programs.
4. Social Security Administration (SSA): If you receive Social Security benefits, including Medicare, the SSA may send Form 1095-B to you. However, they should not complete Form 1095-B for other individuals covered under the same health plan.
5. Dependents and Individuals: While individuals and dependents are not required to complete Form 1095-B, they should receive a copy from the entity responsible for completing the form. This copy is important for tax purposes and to ensure that the individual had minimum essential coverage throughout the year as required by the ACA.
Remember, completion of Form 1095-B helps individuals demonstrate they had minimum essential coverage and avoid penalties for not having health insurance as mandated by the ACA. It is advisable to consult a tax professional or visit the IRS website for accurate and up-to-date information on who should complete Form 1095-B in your specific circumstances.