The TurboTax Blog • Health Care

When Can You Claim a Tax Deduction for Health Insurance?

March 31, 2016 / Magaly Olivero

Claiming medical and dental tax deductions can lead to big savings – if you had major out-of-pocket expenses or your income was lower than expected. Under the Affordable Care Act, you can only deduct the amount of your total medical...

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How Will I Prove My Health Insurance on My Taxes?

March 25, 2016 April 5, 2019 / TurboTaxBlogTeam

Under the Affordable Care Act, taxpayers will need to provide information about their health insurance coverage when filing their 2015 taxes, since most uninsured Americans must have health insurance beginning in 2016 or face a tax penalty. So how can you...

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Affordable Care Act (ACA), Health Care

Got Health Insurance Questions as You Prepare Your Taxes? We Have You Covered!

March 21, 2016 / TurboTaxBlogTeam

Chances are you’re getting ready to file your 2015 tax return, and you may have some questions in regards to your healthcare coverage and how it relates to your taxes. How do I prove I was covered in 2015? Do...

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Health Care

Life Changes – Your Health Insurance Adventure Tool [Interactive]

March 17, 2016 June 2, 2016 / TurboTaxBlogTeam

Life is beautiful, and around every corner are new milestones to experience. One thing we know for sure is that health insurance can help you during your more unexpected life changes. Since this is the second year that all Americans...

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Health Care

FSA or HSA: Which Offers the Best Tax Advantages?

March 17, 2016 / Magaly Olivero

Flexible Saving Accounts (FSA) and Health Savings Accounts (HSA) can be used to pay for qualifying out-of-pocket expenses with tax-free dollars. But the IRS rules governing these accounts differ significantly. For example, FSA funds must be spent each year or...

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Health Care

Uninsured This Tax Season? See How You Can Save Money with Exemptions

March 10, 2016 September 9, 2016 / TurboTaxBlogTeam

If you didn’t have health insurance in 2015, you might now owe a penalty on your taxes for not being covered. However, about 70% of uninsured Americans may qualify for an exemption from the tax penalty on their 2015 taxes....

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Affordable Care Act (ACA), Health Care

Four ways to make the most of your health insurance

March 7, 2016 / Magaly Olivero

Whether you have job-based coverage or purchased a plan on the Health Insurance Marketplace, making the most of your health insurance is more important than ever now that an increasing number of consumers are assuming a greater share of their...

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Health Care

70 Percent of Uninsured Taxpayers are Saving Money with Exemptions

February 23, 2016 September 9, 2016 / TurboTaxBlogTeam

If you’re uninsured, you may qualify for a health insurance penalty exemption. Nearly three in four uninsured TurboTax filers have claimed an exemption from the individual health care mandate tax penalty as of Jan. 31, according to new data TurboTax...

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Affordable Care Act (ACA), Health Care

Does your move to another state trigger a special health care enrollment period?

February 12, 2016 / Magaly Olivero

While the deadline to buy health insurance on the Marketplace for 2016 has passed, people can still get coverage during other times of the year during a special enrollment period under certain circumstances, one of which being moving. Here’s what...

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Health Care, Tax Tips

Your Quick & Easy Guide to 1095 Health Insurance Forms [Infographic]

February 4, 2016 / TurboTaxBlogTeam

You may expect a form in your mailbox this year called 1095-A, 1095-B or 1095-C. These forms will let you know your health insurance status or offer of coverage, which the Affordable Care Act requires most Americans to report on...

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