2015 Taxes Return tied to Health Coverage

Due to the Affordable Care Act, It is now required to prove you have minimal essential health coverage and reconcile any premium tax credits you received on a 2015 Marketplace Plan when you file taxes.
If you received an “advanced premium tax credit” in 2015, otherwise known as “subsidy” on your marketplace health insurance, you will be required to complete Form 8962 Premium Tax Credit with your 2015 tax return.  In order to complete the 8962 you need the 1095-A Form.  The Marketplace mailed out the Form 1095-A on January 31, which indicates whether you had minimal essential coverage for 2015, and the amount of subsidy you received or due to receive for 2015.   If you have not received the 1095-A, you can download the form at www.healthcare.gov, logging into your personal account, pull up the 2015 application, and the 1095-A is found in “tax forms” section within your 2015 Marketplace Application. If you have difficulties downloading the form from the website, you can call the Marketplace directly 1-800-318-2596, and request an additional 1095-A to be mailed.  Failure to reconcile individual taxes credits will prohibit future tax credits in the future.

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Finance Graph Indicating Income Tax And Statistics

Who will not receive a 1095-A?
•    Individuals who enrolled in a catastrophic-only plan or a stand-alone dental plan
•    Individuals who had coverage Off Marketplace, including Medicaid, CHIP, Medicare or Coverage through your employer
•    Individuals who received an exemption and were not enrolled in a Marketplace plan at all
Pre-ACA members and ACA members who enrolled with Off-Marketplace coverage will use the Form 1095-B when completing their tax return.  The 1095-B will show that individuals were enrolled in minimum essential coverage for 2015.   It is used as a reference when individuals are filling out their tax return, but it does not need to be filed with the tax return.  This form will be mailed to members by March 31.  If you have already filed your 2015 taxes prior to March 31, and you checked the box that you were enrolled in health insurance coverage during 2015, you don’t need to do anything else.  You just keep the 1095-B with your 2015 tax filing records.