Don’t Forget to Check This Box on Your 2017 Tax Return

Posted on Feb 21st 2018 by Florida Blue

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When you file your taxes for 2017, you're required to let the IRS know that you health insurance--otherwise you'll pay a penalty. (You'll need to do this for one more year, so make sure you're covered in 2018 and can show proof of coverage this time next year, too.)

You'll receive Form 1095 to prove you had coverage in 2017. You might get more than one of these forms, depending on how you enrolled or if you changed from a PPO to an HMO anytime during the year. 

If You Enrolled Through (The Marketplace)

If you enrolled in your 2017 plan through the government’s Health Insurance Marketplace(SM), you should receive Form 1095-A from the Marketplace—not your health insurer—by March 1, 2018. Here’s what you need to do:

• Use Form 1095-A to calculate the total amount of insurance premium tax credits you received in 2017.

• Then, use the information on Form 1095-A to fill the IRS Form 8962.

• Include Form 8962 with your 2017 tax return.

If You Enrolled Directly Through Florida Blue

If you enrolled in 2017 in a health plan directly from a health insurance company like Florida Blue, or if you had coverage provided by an employer, you will receive either (or both) Form 1095-B or Form 1095-C from your health plan provider or employer. 

Florida Blue members will receive their Form 1095-B in the mail by March 1, and you can view or print the form right from your member account at starting on March 5. 

• This form shows that you were enrolled in minimal essential coverage in 2017.

• Use this form as a reference when you filling out your 2017 tax return. You’ll need to check a box saying that you were enrolled in health coverage for 2017.

• You do not need to file the Form 1095-B with your tax return.

If you receive a 1095-C form from your employer, they can answer your questions about that form. As always, if you have questions about filing your taxes, you can check the IRS website for details or for the best phone number to call to reach them. You can also check with your local tax advisor.

Filed under: Member News  

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