What does repealing the individual mandate mean to me? Will form 1095-c still be required for 2018 Tax Filing?
The penalty associated with the Affordable Care Act’s (ACA’s) individual mandate — also known as the act’s individual shared responsibility provision — has been reduced to $0 beginning Jan. 1, 2019. This occurs as part of the tax reform bill signed into law by President Trump on Dec. 22, 2017. The change essentially repeals the ACA’s individual shared responsibility provision. But remember, this goes into effect for 2019. Individuals will still need to report evidence of insurance when filing their 2018 taxes.
Under the individual mandate, the IRS also requires employers and insurers to report employees covered by their plan or face penalties. Self-insured employers report this information for individuals on IRS Form 1095-C or Form 1095-B; this requirement is unchanged under tax reform. Other provisions in the ACA, including the employer shared responsibility provision, are also unaffected.
See https://www.irs.gov/affordable-care-act for more information.
