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Tax Day: Remember to File Your Taxes And Provide Proof of Health Insurance or Pay a Fine

The deadline to file your taxes is today! Make sure you have all of your documents needed including your health coverage forms. Regardless of how you purchased health insurance, you need to report your 2017 coverage to the IRS.

Choose your 2017 health coverage status. The form you’ll use will depend on how you got your health coverage.

If you had 2017 Marketplace insurance, you’ll use Form 1095-A, Health Insurance Marketplace Statement, to “reconcile” your taxes.

Even if you don’t normally have to file a federal income tax return, you’re required to file if you had a 2017 Marketplace health plan and got financial help with your premium costs.

If you did not have health insurance…

If you weren’t enrolled in qualifying health coverage for all or part of 2017, you may have to pay a fee with your federal income tax return. But first, check to see if you qualify for an exemption.

Exemptions are available based on a number of situations, including certain hardships, some life events, health coverage or financial status, and membership in some groups.

If you do not qualify for an exemption you must pay the fee.

Remember, having health insurance is crucial for your wellbeing. Yes, it can be expensive, but Cosmo can guide you when purchasing a health insurance plan. Cosmo looks at your lifestyle, income, and needs. Call Cosmo to sign up for health insurance today. 732-363-3888.

Insurance coverage can be overwhelming – confusing options, endless paperwork and tedious legalities.

Cosmo Insurance Agency makes it easy. Our team has mastered every detail of the insurance process and will walk you through the process to the end, so you can be 100% confident when signing on the dotted line.

Cosmo’s dedicated service doesn’t end with the selection and signing of your policy. Whether its healthcare, life insurance, long term care, vision, dental, or disability, Cosmo Insurance Agency will be there every step of the way. Our staff maintains close contact and is always only a quick phone call away for questions or concerns relating to billing, provider issues, claims or reimbursements and your insurance renewal. Give us a call today!


If you had no health coverage