Friday, September 11, 2015

Which Form 1095 Will Jim Receive?

Jim worked for a company with less than 50 employees at the start of 2015. He received insurance benefits from this firm's fully insured contract through Aetna. He was let go in May and had to purchase a plan through healthcare.gov or faced paying a tax. Then in August he was offered a position with a fortune 500 company that has thousands of employees and an employer sponsored insurance package. He's now preparing for the upcoming tax season and is confused about which forms he will be receiving to prove he had insurance. Will Jim receive:

A. form 1095-A
B. form 1095-B
C. form 1095-C
D. All of the above

If you chose D you are correct!

Form 1095-A is the form he will receive from the marketplace for being insured through the exchange from May to August. Form 1095-B will come from Aetna during his first job based insurance that covered him from January to May. He will also receive form 1095-C from his large employer who he ended the year working with. This will confirm his coverage from August through the end of December.

You see how easy this is?
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