Form 1095 is a tax form just like a W-2. In general, Form 1095s report the type of health coverage you had and what months you had it. You will need Form 1095 in order to complete your Federal tax return. There are 3 types of Form 1095s – A, B and C.
Form 1095-A is for individuals who received payment assistance (APTC) to lower the cost of their health insurance. It reports the APTC you received, as well as the months you had coverage. You will use Form 1095-A to fill out IRS Form 8962. Form 8962 may be part of your Federal tax filing.
If you receive APTC, you must file a tax return. Your tax return is how the IRS knows you received the correct amount of payment assistance. If you got advanced
payments to help to lower your insurance bill each month or APTC, and you do not file a tax return, you will not be able to get advanced
payments next year. You may still be eligible for payment assistance but you will have to wait until you file your taxes to receive it.
Any member of your household that was enrolled in Medicaid or KCHIP through kynect will receive their own Form 1095-B. If you file a tax return, you will be asked if you had health coverage. Form 1095-B is proof of the coverage you had through kynect. You should save Form 1095-B with your tax information. If you don’t file a tax return, just keep Form 1095-B for your records.
Form 1095-C is for individuals covered by insurance through their jobs. It will come from your employer if the business employs 50 or more full time employees. It reports the months that you had coverage. kynect cannot help you if you have a question about Form 1095-C. You must ask your employer.