Exchange Participants to receive Form 1095-A

Posted January 27, 2015 Industry Insights, Expert Tips, Company News

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 account if they have one.

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