Provide Your Kids’ Social Security Number to Health Insurance to Avoid IRS Penalties

The Affordable Care Act (ACA), also known as Obamacare, requires health insurers to provide you with a 1095-B form each year. This form reports the health insurance coverage you and your dependents had during the year. You’ll need this form to file your taxes and prove you had health insurance.

If you don’t have a SSN for your kids, you need to get one as soon as possible. You can get a SSN for your kids by applying at your local Social Security office. Bring your child’s birth certificate and proof of your identity.

Once you have a SSN for your kids, you should provide it to your health insurance company. This will ensure that they can report your kids’ health insurance coverage to the IRS on the 1095-B form.

If you don’t provide your kids’ SSNs to your health insurance company, the IRS may impose penalties on you. The penalty for not having health insurance is $2,000 per person per year. So, if you have three kids and don’t provide their SSNs to your health insurance company, you could face a penalty of $6,000.

Providing your kids’ SSNs to your health insurance company is a simple and easy way to avoid IRS penalties. Call our licensed agents today to know more about Obamacare and how to get insurance today.

Understanding the 1095-B Form

The 1095-B form is a tax form that reports the health insurance coverage you and your dependents had during the year. You’ll need this form to file your taxes and prove you had health insurance.

The 1095-B form includes the following information:

Your name and address
Your Social Security number
Your dependents’ names and Social Security numbers
The name of your health insurance company
The dates of your health insurance coverage
The amount of your health insurance premiums

You should receive a 1095-B form from each health insurance company that provided you with coverage during the year. You should receive your 1095-B forms by the end of January.

If you don’t receive a 1095-B form, you can contact your health insurance company to request one. You can also access your 1095-B form online through your health insurance company’s website.

Using the 1095-B Form to File Your Taxes

The 1095-B will report that you and your children have health insurance with our company. You will also receive Form 1095-A from the Marketplace. Form 1095-A will report premium tax credits you received to help pay for health insurance. If you have questions about your 1095-A, contact the Marketplace Call Center at 1-800-318-2596.

When you file your taxes, you’ll need to reconcile the information on your 1095-B form with the information on your tax return. You’ll need to make sure that the information on your 1095-B form is correct.

If you have any questions about the 1095-B form or how to file your taxes with it, you can contact the IRS at 1-800-829-1040.

Conclusion

Providing your kids’ Social Security numbers to your health insurance company is a simple and easy way to avoid IRS penalties. Call our licensed agents today to know more about Obamacare and how to get insurance today.