2016 Tax Information Form 1095 A Colorado

2016 Tax Information

As tax season approaches, all tax filers must report whether or not they had health insurance coverage on their 2016 tax returns. The Affordable Care Act requires that most individuals have health coverage that meets certain minimum standards and uses the tax system to enforce that requirement. Depending on how you received your health insurance coverage, you will receive certain forms to help assist with your taxes and confirm that you met the requirement by law to have health insurance.

If you bought health insurance coverage through Connect for Health Colorado in 2016, you will receive a Form 1095-A (Health Insurance Marketplace Statement). If you need a corrected form by the tax deadline, April 18, please call 855-PLANS-4-YOU (855-752-6749) no later than March 10, 2017 to request a corrected form. All of your Form 1095-As, current and past years, are also available in the “My Documents” section of your online account.

If you are concerned about completing your tax return by the April 18 deadline, you may want to look into obtaining a tax extension by talking with your tax preparer, going to IRS.GOV or reviewing instructions contained in your tax filing software. If you have already filed your taxes, you may wish to look to those same resources for information on how to file an amended return.

Why is Form 1095-A important: The information on Form 1095-A will help you report your health insurance coverage and any financial assistance you may have received last year to the IRS. Be sure to keep the document in a safe spot you can easily access when you file your 2016 taxes. If you received financial assistance, it was either in the form of an Advance Premium Tax Credit, or you may have opted to file for a premium tax credit when you complete your 2016 income tax return.

We provide Form 1095-A to the head of household for each plan in which individual(s) in the household are enrolled. So you may receive multiple Form 1095-As if you:

• Changed plans in the middle of the year.
• Added or removed members from the policy during the year.
• Have members of your household enrolled in different plans.

If you were enrolled in a catastrophic plan, you are not eligible for a premium tax credit.  Furthermore, if you were enrolled in a catastrophic plan, you will not receive a Form 1095-A from Connect for Health Colorado.  You might receive a Form 1095-B from your health insurance company reflecting your 2016 catastrophic plan coverage.  If you are curious about whether or not you will receive a 1095-B regarding your catastrophic coverage, please contact your health insurance company.