If you had medical coverage through the Board of Pensions in 2018, you will receive Form 1095-B, required under the Affordable Care Act, in the mail soon.
If you had medical coverage through the Board of Pensions in 2018, you will receive Form 1095-B in the mail in early February. We are required to provide this form under the Affordable Care Act (ACA).
The Internal Revenue Service uses the information reported on the form to verify that individuals have medical coverage as required by the ACA and, therefore, are not subject to the individual mandate penalty.
If you have questions about the form or why you are receiving it, here are some Q&As that may be helpful:
Why did the Board of Pensions send me Form 1095-B?
The form shows that you and your family members either did or did not have medical coverage during each month of the past year. Under the Affordable Care Act, in 2018, every person had to obtain health insurance or qualify for an exemption; otherwise, they will owe a penalty to the IRS.
What am I supposed to do with my 1095 form?
Keep it for your tax records. You don’t need the form to file your taxes, but when you do file, you’ll have to tell the IRS whether or not you had health insurance for each month of 2018.
I thought the Affordable Care Act requirement to have health insurance was repealed. Why am I still getting this form?
The penalty for not having health insurance goes away after January 1, 2019, but it still applies for the months of January through December 2018. Therefore, IRS tax forms require you to report whether or not you had medical coverage in 2018.
Will I get this form again next year?
Possibly. It depends on whether or not the federal government will require plan sponsors, such as the Board of Pensions, to report medical coverage for 2019. There will be no tax penalty for not having coverage in 2019, though.
Who do I contact if I have more questions?
If you have additional questions, or if you believe you should have received Form 1095-B and did not, call the Board at 800-773-7752 (800-PRESPLAN).
Source: ifebp.org, Word on Benefits, January 21, 2019