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VA online Form 1094-B: What You Should Know
Sep 30, 2023 — Forms 1094-B/1095-B are used to report the following information on the tax return: If a health plan that is smaller than ALE is used, you cannot claim your self-based employer's share of the premium on Form 1040. [see question 12] Form 1095-B is used by insurers when the employer contribution is larger than the plan premium, providing coverage to employees that is more expensive than the employer contribution. In most cases, your self-based employer's contribution includes the employer contribution to the plan plus the difference between 50% (for an individual health plan) or 55% (for a family plan) of the cost of each participant in the plan from whom you pay the premium. Your 1095-B form will include: Your information for 2019 (year and month) as shown on Form 1040, along with the type of insurance that you had the plan with. If Form 1095b was filed for the year you were a 2023 taxpayer, you cannot use this form to calculate the taxes for any years you are filing an amended return. (In 2018, 2023 and 2020, you cannot use your 1095-B because the information reported on that form is not necessary for tax purposes.) For 2019, the amount on line 5a is for all of your coverage in a single large group or group of related businesses, and the amount is your share of the premium. For 2019, the amount on line 5b is for all of your coverage in a plan that provides coverage for a single participant. The amount must be less than 50%. For 2019, the amount on line 5c is for all of your coverage in a plan that provides coverage to individuals. The amount must be less than 55%. If you receive more detailed coverage information from your employer's plan on Form 1095-B, such as type of plan, benefits and cost of coverage, this information must be provided on Form 1095-B. See FAQs about Form 1095-B. If you do not have or will not purchase health insurance coverage for 2018, you should have received a Form 1095-B, and your 2023 income is as shown on that form — in other words, you will not have to have a health insurance issuer file a 1095-B. If you or anyone claiming your dependent would owe any income tax in 2019, you should have received a Form 1095-B.
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