If i bought insurance coverage through the exchange is it reported to the internal revenue service and how much i paid for coverage?
Marketplace coverage is reported to the IRS when the Marketplace files a 1095-A form on your behalf. You'll use this to report coverage on your 1040 and adjust tax credits with the help of the Premium Tax Credit form.
If you didn't get a Marketplace plan, then your 1095 is sent by your insurer or employer. Since those non-Marketplace forms aren't due until 2016 many Americans will use the "honor system" to report on 2014 coverage during the 2015 tax season.