Form 1095-A is a tax form that will be sent to individuals enrolled in Exchange coverage during the past year. This new form provides information that Exchange participants will need to complete the Premium Tax Credit Form (Form 8962). Completion of Form 8962 is necessary for participants who received premium assistance through advanced credit payments or if they intend to claim the premium tax credit when they file for calendar year 2014. The form will be mailed to all Exchange participants, not just those that qualify for premium assistance.
Consumers should keep the new form alongside their W-2 and other tax records. Some households will get multiple Form 1095-As if they were covered under different plans or changed plans during the year. CMS has communicated that all Forms 1095-As will be mailed in early February and forms will be uploaded to participants’ online HealthCare.gov account if they have one.
Please note that the information contained in this document is designed to provide authoritative and accurate information, in regard to the subject matter covered. However, it is not provided as legal or tax advice and no representation is made as to the sufficiency for your specific company’s needs. This document should be reviewed by your legal counsel or tax consultant before use.
Additionally, the messages and content within the Pittsburgh Health Care Reform group do not reflect the advisory services of Henderson Brothers, Inc.