As the individual mandate regarding health insurance is in force for 2014, tax preparation programs and accountants preparing a 2014 tax filing may be asking for proof of a tax filers’ health insurance plan meeting minimum essential coverage requirements.

The IRS has delayed reporting requirements for this information until 2016 (for the 2015 coverage year). Therefore, many health insurance carriers are not providing the information at this time as they are not required to do so.

When filing taxes for 2014, an individual will have to:
• Report they (and any dependents) had health care coverage throughout 2014; or
• Claim a coverage exemption from the individual mandate for some or all of 2014 and attach Form 8965; or
• Pay an individual mandate penalty (called a shared responsibility payment) for any month in 2014 they (or any dependent) did not have coverage and did not qualify for a coverage exemption.

If individuals had minimum essential coverage for each month of the tax year, they will indicate this on the 2014 tax return by simply checking a box on Form 1040, 1040A or 1040EZ, with no further action required.

If an individual obtained a coverage exemption from the Marketplace they will file Form 8965 and attach it to the tax return.

NEEBCo – Individual Mandate Reporting Coverage