What is meant by “showing health insurance”?
Nowadays, it has become extremely important that you have some kind of a health insurance because it ensures your safety while living in the country you are living in. The Affordable Care Act, that was introduced in the year 2009, has made it absolutely necessary that all the people living in the United States have a health insurance. The workplaces throughout the country have changed their policies regarding the insurance given to their employees and made it compulsory that they have a health insurance that covers most of their needs. However, now it also important that you Show Health Insurance on your tax papers as evidence that you have a valid health insurance that takes care of your medical expenses whenever you need them.
Why is it important to Show Health Insurance?
In addition to having a health insurance, you must also take care of the fact that you have to show the health insurance that you had while filing your tax papers. As the Affordable Care Act makes sure that all the people living in America have a health insurance, all the tax payers also need to Show Health Insurance when they file for a tax return. After 2015, it has been made necessary that you have to Show Health Insurance in your papers because that way it becomes easier to keep a track on the people who are and who are not getting their medical coverage.
How do you Show Health Insurance?
To provide the IRS with an evidence of having a health insurance, you need to get the Health Coverage Information Statement that you can get from your workplace. However, if you have applied for the form but have not received it due to some reason, there are also other options that you can use to give proof to the IRS that you have a health insurance. These things include the following:
- Insurance cards
- Explanation of benefits
- W-2 or payroll statements that show insurance deductions
- Records or advance payments of the premium tax credit and other statements indicating that the taxpayer or a member of his or her family had health coverage