Tax time: What Does the Affordable Care Act Require?
By Jay Starkman and Dorothy Miraglia-King
Since 2014, the "Affordable Care Act" has required individuals to have health insurance that meets the “minimum essential coverage” standards.
When you file your federal income tax return, you must indicate whether you (and your dependents) had the type of health insurance required by the law. You’ll check a box on the form you are filing. On IRS Form 1040, this information is requested on Line 61.
The IRS will also receive information about your coverage from your employer and/or your health insurance provider.
As published in the Business Journals