Health Care Reform Update – IRS Extends Form 1095-B Deadline

The IRS has extended the due date for mailing Form 1095-B to individuals for 2015 tax returns to March 31, 2016. As part of Section 6055 Reporting under the Affordable Care Act, Form 1095-B verifies the “individual mandate” for minimum essential health coverage.
 
The IRS Form 1095-B verifies the Affordable Care Act (ACA) “individual mandate” for minimum essential health coverage. The General Board of Pension and Health Benefits (GBOPHB) will be issuing Form 1095-B, for the conferences covered under HealthFlex, which includes the CTC.  The 1095-Bs were supposed to be issued before the end of January, but the IRS has extended the deadline to March 31. 
 
Along with the two-month deadline extension for employers for 2015 tax reporting, the IRS also stated that individuals who rely on information from their coverage providers regarding minimum essential coverage, will not be required to amend tax returns if they receive a Form 1095-B later that has conflicting information.
 
Please note that Form 1095-B does not need to be filed with an individual’s tax return, but the IRS recommends that the taxpayer keep a copy with his or her tax records.