Switched health insurance from my employer to wife's company mid-2024 - help with tax reporting?

But what if they only get one form? My husband and I were in a similar situation and his new employer never sent anything. Does the IRS match these up somehow?

If you only receive one form, that's generally okay. The IRS receives copies directly from the providers, so they'll have records of your coverage. The main thing is that you were covered for the full year, which you were. Sometimes smaller employers or certain coverage types might not generate a 1095-B at all. The IRS doesn't typically "match up" the forms in the way you might be thinking. They're more concerned that you had qualifying coverage for the full year, not necessarily the specific sources of that coverage. If you're asked about it later, you can explain the situation and provide the documentation you do have.

How does it handle situations where one form is missing? I switched jobs in December and I'm still waiting on one of my 1095 forms.

I'm always skeptical of these tax tools. Does it actually do something special with the 1095 forms that regular tax software doesn't? Can it help with other health insurance tax issues like premium tax credits?

It definitely handles missing forms - you can enter coverage periods manually if you know the dates, and it'll create a complete timeline of your coverage. The system flags any potential gaps that might cause issues with the IRS. Regarding your question about special features, it actually does go beyond regular tax software. It can detect overlapping coverage periods, reconcile premium tax credits, and help determine if you qualify for exemptions. It's particularly helpful for marketplace plans where you need to reconcile advance premium tax credits with Form 8962.

Wait, how does this actually work? I thought it was impossible to get through to the IRS these days. Is this legit?

Yeah right. No way this actually works. I've spent DAYS trying to call the IRS about a similar issue. If this was real, everyone would be using it. Sounds like a scam to me.

It works by holding your place in the IRS queue so you don't have to stay on the phone yourself. When an agent picks up, they call you and connect you directly. It's basically like having someone else wait on hold for you. I was definitely suspicious at first too, especially since I had already wasted so much time trying to get through. But it actually worked exactly as advertised. They got me connected to an IRS rep who explained that I could proceed with my return even without the missing 1095 form as long as I had other evidence of coverage (like insurance cards or pay stubs showing health insurance deductions).

Thanks for bringing this up! Fortunately my wife's insurance is through her employer, not the Marketplace, so it sounds like I won't need to deal with Form 8962. I was worried I'd need to submit both 1095 forms or fill out some additional paperwork to show the transition, but it seems like as long as I can show continuous coverage throughout the year, I should be good.

Exactly, with employer coverage you won't need Form 8962. And just to clarify for everyone reading this thread - the 1095 forms are primarily informational and proof of coverage. You typically don't attach them to your return or enter detailed information from them. For most people with employer coverage, tax software will just ask if you had full-year health insurance coverage, and you'll check "yes." Keep the 1095 forms with your tax records in case there are questions later, but the process is pretty simple.

The individual mandate penalty (for not having coverage) was effectively eliminated starting in 2019 when the penalty amount was reduced to $0. So at the federal level, there's no penalty anymore. But some states like Massachusetts, New Jersey, California, DC, and Rhode Island have their own penalties if you don't have coverage.