Your Health Insurance Company May Ask for Your Social Security Number

Your health insurance company may request that you provide them with the social security numbers for you, your spouse and your children covered by your health insurance policy. This is because the Affordable Care Act requires every provider of minimum essential coverage to report that coverage by filing an information return with the IRS and furnishing a statement to covered individuals. The law requires coverage providers to list social security numbers so they can match the Form 1095-B with the individuals and determine that they have complied with the individual shared responsibility provision.

Your health insurance company may send a letter that discusses these new rules and requests social security numbers for all family members covered under your policy. The Form 1095-B will provide information for your income tax return that shows you, your spouse, and individuals you claim as dependents had qualifying health coverage for some or all months during the year. You do not have to attach Form 1095-B to your tax return. Keep it with your other important tax documents.

Anyone on your tax return who does not have minimum essential coverage, and who does not qualify for an exemption, may be liable for the individual shared responsibility payment. If you refuse to provide this information to your health insurance company, the IRS cannot verify the information you provide on your tax return and you may receive an inquiry from the IRS. You also may receive a notice from the IRS indicating that you are liable for a shared responsibility payment.

For more information, please contact your Anchin Relationship Partner or Marc Federbush, Practice Leader of Anchin’s Fashion Industry Group at 212.840.3456.