Obamacare: tax forms galore

I had no health coverage this year until I got a job in May.  Then I had a health plan from my job until September when I quit.  After that I had coverage from the exchange (with a subsidy).  I just got a new job that has health insurance.  I dropped the exchange plan as soon as I could.  What will I have to file with my taxes?


Dear Wanderer,

Everyone seems to be concerned about the 2014 tax filing, the first year of new forms for health reform.

In your case, you will have two extra forms to complete.  First, the form 8965 for the period that you had no health insurance. You are allowed up to three months with no health insurance, but you had four months.  You can still escape the penalty if you qualify for one of the exemptions.

The form 8962 also applies to you, since you got a subsidy to buy your plan from the exchange.  The information that you will need for this form will be sent to you by the exchange.

For the periods of time that you had an employer plan, you do not need to file anything.  This information will appear on your W-2 form automatically.

I’m sure there will be a lot of hubbub about the new process.  No doubt healthcare.gov or the IRS will put out how-to videos and ads.  Let’s hope for smoother sailing than the first year’s enrollment!

Linda Riddell

About Linda Riddell

A published author and health policy analyst with 25 years’ experience, Linda Riddell's goal is to alleviate the widespread ailment of not knowing what your health plan can do for you.