Connect for Health Colorado Providing 1095-A Tax Forms to Customers
Connect for Health Colorado is sending all customers enrolled in the Individual Marketplace in 2016 their Health Insurance Marketplace Statement, or Form 1095-A, to help them complete their federal income tax filings; Form 1095-A is specifically used to complete Form 8962.
Form 1095-A, which is being sent this week through the mail and being posted to clients’ Connect for Health Colorado accounts, includes information about what they paid for health insurance, what, if any, tax credit they received, and the information that was used to determine the amount of their tax credit. The mailing will be completed by Jan. 31, 2017.
In addition to Form 1095-A, some Coloradans will receive Form 1095-B if they or a family member received Medicaid, Child Health Plan Plus (CHP+), or other public health coverage benefits for any part of the year. Employees with health coverage through their employers will receive Form 1095-B or 1095-C.
FAQ: Form 1095-A
What is a Form 1095-A?
It is a tax form that includes:
What is a Form 1095-A?
It is a tax form that includes:
- Information about anyone in the household who enrolled in a health plan through the Marketplace for 2016.
- How much was paid in monthly premiums to the health and/or dental plan.
- Information about a “benchmark” premium used to compute the premium tax credit.
- The amount of any advance payments of the premium tax credit that were paid to the health or dental plan on the customer’s behalf for 2016 — these payments would have lowered what customers paid for their monthly premiums if they elected to receive them in advance, as many people did.
Who gets it?
Customers that enrolled in health insurance for 2016 through Connect for Health Colorado will receive a Form 1095-A. They will get a Form 1095-A even if they did not receive a tax credit and even if they had Marketplace coverage for only part of 2016. The information is also provided to the IRS by Connect for Health Colorado.
Customers that enrolled in health insurance for 2016 through Connect for Health Colorado will receive a Form 1095-A. They will get a Form 1095-A even if they did not receive a tax credit and even if they had Marketplace coverage for only part of 2016. The information is also provided to the IRS by Connect for Health Colorado.
When will customers get it?
Customers will receive it in the mail as early as this week. At the same time, a copy will be placed in the My Documents section of the customers Connect for Health Colorado account that can be downloaded and printed.
Customers will receive it in the mail as early as this week. At the same time, a copy will be placed in the My Documents section of the customers Connect for Health Colorado account that can be downloaded and printed.
What if customers get more than one 1095-A?
- Customers may get more than one Form 1095-A if anyone in the household switched plans in 2016.
- It also might happen if a customer had more than one policy covering people in the household during 2016.
- Customers may get more than one Form 1095-A if there are more than 5 covered individuals in the household.
What does the customer do with it?
When the customer gets the Form 1095-A, they should make sure the information matches their records. A customer should check things like the start and end dates of the coverage and the number of covered people in the household. If a customer thinks information on the Form 1095-A is incorrect, call 1-855-PLANS-4-YOU (855-752-6749) to find out if a corrected form is needed.
When the customer gets the Form 1095-A, they should make sure the information matches their records. A customer should check things like the start and end dates of the coverage and the number of covered people in the household. If a customer thinks information on the Form 1095-A is incorrect, call 1-855-PLANS-4-YOU (855-752-6749) to find out if a corrected form is needed.
The customer will use information from the Form 1095-A to complete Form 8962, which will be filed with their tax return to report any advanced premium tax credits received or to claim premium tax credits. The customer keeps the Form 1095-A for their records. They can get Form 8962 from the IRS or a tax preparer.
What if a customer has more questions?
If a customer has questions about Form 1095-A, or how health insurance coverage affects their taxes, they can call Connect for Health Colorado at 1-855-PLANS-4-YOU (1-855-752-6749). If a customer has questions on how to complete their taxes, they can call a local tax preparer or the IRS at 1-800-829-1040 Monday – Friday, 7:00 a.m. – 7:00 p.m. or visit www.irs.gov/uac/Affordable-Care-Act-Tax-Provisions-Home. Additional information will accompany Form 1095-A when it is mailed to the customer. It’s important for customers to wait for their 1095-A to arrive before they file taxes and to check the information carefully.
If a customer has questions about Form 1095-A, or how health insurance coverage affects their taxes, they can call Connect for Health Colorado at 1-855-PLANS-4-YOU (1-855-752-6749). If a customer has questions on how to complete their taxes, they can call a local tax preparer or the IRS at 1-800-829-1040 Monday – Friday, 7:00 a.m. – 7:00 p.m. or visit www.irs.gov/uac/Affordable-Care-Act-Tax-Provisions-Home. Additional information will accompany Form 1095-A when it is mailed to the customer. It’s important for customers to wait for their 1095-A to arrive before they file taxes and to check the information carefully.
More information can be found on the Connect for Health Colorado 2016 Tax Information webpage.
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