Medicare mails Form 1095-B, also called the Minimum Essential Coverage Notice, to Medicare beneficiaries every year. The form serves as proof that you were covered by Medicare Part A (hospital insurance) for all or part of the previous year. Medicare also sends this information to the Internal Revenue Service.
The Affordable Care Act (ACA) requires that people have at least minimum essential health care coverage. People who don’t have it may have to pay a fee. The fee would be assessed as part of their federal tax return. Medicare Part A meets the required level of coverage set by the ACA. Form 1095-B shows which months of the prior year you were covered by Medicare Part A.
You will use the information from the Form 1095-B to complete a portion of your federal tax return. If you didn’t have Part A for all 12 months of the year, you may have to pay a fee, which is payable when you send in your tax return. People who qualify for a health coverage exemption may not have to pay the fee.
You don’t need to submit Form 1095-B with your tax return. Just keep it in a safe place with your other tax records. It is a good idea to keep the form even if you don’t file a return. If you have questions about Form 1095-B or other tax issues, it is best to speak to a tax professional about your specific situation.