Show Health Insurance: The basics
What is meant by showing your health insurance?
One of the most important things that you have to do in your life is get a health insurance because that is going to ensure the safety and security of you and your family on paper. However, another important thing that you need covered in your life is the fact that you have to Show Health Insurance when you finally start to file your taxes. Showing that you had health insurance is an extremely important things that you have to do because you need to give a written proof, in the form of proper documentation, that you have had health insurance.
Basics about showing your health insurance
There are several forms that you need to fill out when you finally sit down to do your taxes, however, all this hassle and form filling is going to be worth it when you Show Health Insurance on your reports. The forms that you need to be concerned about while doing your taxes are the following.
- Form 1095-A: This form consists if the information regarding the family members who were covered with the health insurance you had chosen. This shows that the individual had been enrolled for an insurance from a known marketplace and for what time period they had the health insurance for.
- Form 1095-B: This form shows the health coverage of the individual.
- Form 1095-C: This is the form that is usually sent to the employees by their companies. If the person is already covered by a health insurance by their family, they have the option of not being concerned about this form because they have an insurance.
Additional things one must have to Show Health Insurance
Some of the other things that a person should be careful about when they have to show their health insurance are the following.
- Your insurance cards
- The statements from your insurer
- The explanation of benefits
- Any records that you have of advance payments of the premium tax credit
- Any other statements that can give the proof that you, and people from your family, have had health insurance in the past.
When you have these documents along with the 1095 forms, your tax procedure is going to go extremely easily because all that the government requires from you is that you show that you, and your family members, have had some kind of health insurance, be it through personal means or through the company you work for.
