What is Form 1095-B and when is it used?

What is Form 1095-B and when is it used?

• A. Form 1095-B lists the SLCSP premium used to calculate subsidies.
• B. Form 1095-B is issued by the Marketplace to verify enrollment.
• C. Form 1095-B documents MEC and is used for tax reporting to show coverage.
• D. Form 1095-B explains eligibility for SEP.

Answer: (C)

Form 1095-B is the record that proves you had minimum essential coverage (MEC) for the months you were insured during the year. It’s typically issued by your health insurer or by an employer with self-insured or group coverage, not by the Marketplace. The purpose is to provide information for your tax return so you can show that you had qualifying health coverage for the year. This form is distinct from Form 1095-A, which reports the Marketplace plan and is used to reconcile premium tax credits. It also isn’t used to explain SEP eligibility. So the best choice is that Form 1095-B documents MEC and is used for tax reporting to show coverage.

Form 1095-B is the record that proves you had minimum essential coverage (MEC) for the months you were insured during the year. It’s typically issued by your health insurer or by an employer with self-insured or group coverage, not by the Marketplace. The purpose is to provide information for your tax return so you can show that you had qualifying health coverage for the year. This form is distinct from Form 1095-A, which reports the Marketplace plan and is used to reconcile premium tax credits. It also isn’t used to explain SEP eligibility. So the best choice is that Form 1095-B documents MEC and is used for tax reporting to show coverage.