New Forms 1095-A and 1095-B
For filing tax year 2014, most tax filers will be receiving Forms 1095-A or 1095-B. if You purchased health insurance via the Marketplace aka Obamacare, you will receive a Form 1095-A. If your employer provided you with health insurance, you will receive a Form 1095-B.
Here is the caveat, Form 1095-B is optional for 2014, but required for 2015. The IRS hopes that Form 1095-B will be provided to tax payers, but does not necessary required health insurers to issue it.
Unless you have minimum essential coverage or qualify for an exemption, you’ll pay a penalty, also known as a shared responsibility payment, on your tax return if you’re uninsured for three or more months in 2014. The penalty is 1% of your 2014 income or $95 per adult – whichever is higher – and $47.50 per uninsured dependent under the age of 18, up to $285 total per family.
Read more at http://LaRusaTax.com