"Proof" you have Health Insurance on Federal taxes

NewRVLady

Registered

Joined

Jan 26, 2014

• Mar 2, 2015

• #1

I just finished my taxes and all I see is one line where you check a box if you have Health Insurance
Is that it???

My Health Ins co sent us forms that check off each month we have insurance-do I send that with my Tax return?
(I found the instructions very vague)

 

Katlyn

DIS Veteran

Joined

Jan 7, 2008

• Mar 2, 2015

• #2

I e-filed for a friend and all I had to do was answer yes for her.. She has Ins. through her employer.

 

TAX GUY

DIS Veteran

Joined

Jun 25, 2014

• Mar 2, 2015

• #3

No proof is needed to send in. If you had coverage all year then simply check the box. Different exceptions could apply if there was a gap or no coverage.

 

tvguy

Question anything the facts don't support.

Joined

Dec 15, 2003

• Mar 2, 2015

• #4

TAX GUY said:

No proof is needed to send in. If you had coverage all year then simply check the box. Different exceptions could apply if there was a gap or no coverage.

Click to expand...

I think the paperwork is only needed if you bought insurance through the "Exchange", the Federal or in some cases, state run healthcare sits.

 

tvguy

Question anything the facts don't support.

Joined

Dec 15, 2003

• Mar 2, 2015

• #5

TAX GUY said:

No proof is needed to send in. If you had coverage all year then simply check the box. Different exceptions could apply if there was a gap or no coverage.

Click to expand...

Oh, and TAX GUY, had my taxes done, and yes my CPA is electronic filing this year for the first time. So apologies. However, I can't find the thread this came up in on ID theft. It really doesn't change much since you still have to send in the hard copy too.

 

marlynnp

No take backs, bowing out or other weenie manuever

Joined

Mar 18, 2006

• Mar 2, 2015

• #6

You will need 'proof' with your tax return next year.

If you have insurance coverage through an employer, there will be an entry in section 12 of your W2 that will list the amount paid by your employer for your coverage. Many W2s actually
have that this year - look for a DD in section 12.

If your insurance is directly purchased by you, you will receive a form from the insurance company next year.

 

TAX GUY

DIS Veteran

Joined

Jun 25, 2014

• Mar 2, 2015

• #7

tvguy said:

Oh, and TAX GUY, had my taxes done, and yes my CPA is electronic filing this year for the first time. So apologies. However, I can't find the thread this came up in on ID theft. It really doesn't change much since you still have to send in the hard copy too.

Click to expand...

You could opt to use the PIN system and send nothing in (unless there's a balance due).

 

TAX GUY

DIS Veteran

Joined

Jun 25, 2014

• Mar 2, 2015

• #8

marlynnp said:

You will need 'proof' with your tax return next year.

If you have insurance coverage through an employer, there will be an entry in section 12 of your W2 that will list the amount paid by your employer for your coverage. Many W2s actually
have that this year - look for a DD in section 12.

If your insurance is directly purchased by you, you will receive a form from the insurance company next year.

Click to expand...

Massachusetts does this now (actually for the past 7 or 8 years). Its an additional form with provider, provider ID number and each persons subscriber number. All insurance are supposed to be sending people a form 1099-HC now however I have only seen them for MA residents and none for persons residing in other states (that don't already have the mandate).

 

NewRVLady

Registered

Joined

Jan 26, 2014

• Mar 2, 2015

• #9

Thanks everyone

 

tvguy

Question anything the facts don't support.

Joined

Dec 15, 2003

• Mar 3, 2015

• #10

TAX GUY said:

You could opt to use the PIN system and send nothing in (unless there's a balance due).

Click to expand...

Okay, I got a call to pickup my returns, yup, hard copy. Still no electronic filing. Just an "opt out" form to sign. The tax planner he buys had the generic line about "anyone preparing more than 11 returns has to file electronicall" and that does not apply. Right now he plans to start electronic filing of his clients returns in 2017, for the 2016 tax year. That is unless the IRS extends opting out. My CPA is of the opinion that depending on how the addition of documentation next year (for the 2015 tax year) of group health coverage goes.......as in if it goes badly, the IRA may put off mandatory electronic filing.