Individuals can also use the health insurance information contained in the form/forms to help them fill out their tax returns.
The individual mandate requires that most Americans have qualifying healthcare coverage or potentially face a fine.
For example, if an individual fails to meet adequate medical coverage, and does not qualify for any exemptions, they will enter the shared responsibility payment amount on that line in the 1040 Forms.
[3] Starting January 2014, an individual and his or her family must have health insurance coverage throughout the year.
Form 1095-B is used to verify on tax returns that an individual and his or her dependents have at least minimum essential coverage (MEC).
[9] The IRS uses the information on it to determine whether the employee or the employer have to pay a fine for failing to meet the healthcare coverage requirements under the ACA.