Date January 27, 2016
DENVER — Connect for Health Colorado® today is sending all customers their Health Insurance Marketplace Statement, or Form 1095-A, to help them complete their federal income tax filings.
The Form, 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.
All 155,000 Coloradans who purchased health insurance through Connect for Health Colorado in 2015 will receive the statements, whether they received a tax credit or not, in early February. In 2015, Coloradans received an average tax credit of $235 per month, adding up to $180 million in premiums savings as a result of Marketplace tax credits.
“We recommend our customers keep this form in a safe place with other tax documents,” said Kevin Patterson, CEO of Connect for Health Colorado. “It is very important that those individuals who received a tax credit in 2015 file their taxes; since not filing will put eligibility for future tax credits in jeopardy.”
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.
FAQ: Form 1095-A
What is a Form 1095-A?
It is a tax form that includes:
- Information about anyone in your household who enrolled in a health plan through the Marketplace for 2015.
- How much you paid in monthly premiums to your health and/or dental plan.
- Information about a “benchmark” premium used to compute your premium tax credit.
- The amount of any advance payments of the premium tax credit that were paid to your health or dental plan on your behalf for 2015 — these payments would have lowered what you paid for your monthly premiums if you elected to receive them in advance, as many people did.
Who gets it?
If you or anyone in your household enrolled in health insurance for 2015 through Connect for Health Colorado (the Marketplace), you will receive a Form 1095-A. You will get a Form 1095-A even if you did not receive a tax credit and even if you had Marketplace coverage for only part of 2014. The information is also provided to the IRS by Connect for Health Colorado.
When will I get it?
You will receive it in the mail by early February. At the same time, a copy will be placed in the My Documents section of your Connect for Health Colorado account that you can download and print.
What if I got more than one 1095-A?
- You may get more than one Form 1095-A if anyone in your household switched plans in 2015.
- It also might happen if you had more than one policy covering people in your household during 2015 or if you enrolled in a health and dental plan.
What do I do with it?
When you get the Form 1095-A, make sure the information matches your records. Check things like the start and end dates of your coverage and the number of people in your household. If you think information on your Form 1095-A is incorrect, call 1-855-PLANS-4-YOU (855-752-6749) to find out if you need a corrected form.
You will use information from your Form 1095-A to complete Form 8962, which you will file with your tax return to report any advanced premium tax credits you received or to claim premium tax credits. You keep the Form 1095-A for your records. You can get Form 8962 from the IRS or your tax preparer.
What if I have more questions?
If you have questions about Form 1095-A, or how your health insurance coverage affects your taxes, you can call us at 1-855-PLANS-4-YOU (1-855-752-6749). If you have questions on how to complete your taxes, you can call your local tax preparer or the IRS at 1-800-829-1040. Monday – Friday, 7:00 a.m. – 7:00 p.m. or visitwww.irs.gov/uac/Affordable-Care-Act-Tax-Provisions-Home. Additional information will accompany Form 1095-A when it is mailed to you. It’s important to wait for your 1095-A to arrive before you file your taxes and to check the information carefully.
About Connect for Health Colorado
Connect for Health Colorado is a public, non-profit entity established by the Colorado General Assembly in 2011 to create a health insurance Marketplace. It opened for business on Oct. 1, 2013, for individuals, families and small employers to compare and buy health insurance and is the only place to apply for financial assistance in the form of tax credits to help lower the monthly cost of premiums. Customers can shop online; get help by phone or online chat from Customer Service Center representatives; and access free, in-person assistance from a statewide network of certified Brokers, community-based Health Coverage Guides or Application Counselors. For more information: www.connectforhealthco.com