When you buy your health insurance plan through Connect for Health Colorado, you can get financial help in the form of a tax credit to lower the monthly payment. At the beginning of each year, we will provide you with a tax form, Form 1095-A. This document:
- Shows the months you (and other members of your household) were enrolled in a health insurance plan last year;
- Shows how much you paid in monthly premiums and how much tax credit (if any) you received last year to pay for your health insurance;
- Helps you fill out Form 8962. Form 8962 determines how much tax credit you qualified for based on your actual income and household size as shown on your federal income tax return.
We provide Form 1095-A to the primary tax filer in the household for each plan. You may get multiple Forms 1095-A if:
- You changed plans during the year;
- You added or removed members from the plan during the year; or
- Members of your household are enrolled in different plans.
Be sure to keep all 1095-A forms, as you may need them to file Form 8962. The IRS requires you file a federal income tax return if you or any other member of your household received or wants to claim Premium Tax Credit. We send the information in your 1095-A form(s) to the IRS, including any corrections or changes.
Where to find your Form 1095-A
We mail Form 1095-A to the primary tax filer in the household at the end of January. Additionally, you can get an electronic version of Form 1095-A in the “My Documents” section of your Connect for Health Colorado online account.
If you need more than one paper copy, please call our Service Center at 1-855-PLANS-4-YOU (855-752-6749). This may take up to 4 weeks.
Requesting changes to your Form 1095-A
To report an error on your Form 1095-A, or if you did not receive Form 1095-A and you were enrolled in a health insurance plan through Connect for Health Colorado, call us right away at 1-855-PLANS-4-YOU (855-752-6749). We will review and compare our records of your coverage with the health insurance company to make sure the form is accurate. If a correction is needed, we will make a new copy available to you via mail and your online account.
Note: If you notice a discrepancy in premium amounts of $5 or less, you do not need a corrected Form 1095-A and may file using the amount shown.
What is considered an error?
- The months of coverage are incorrect for one or more household members, or household members are missing from the form.
- The monthly enrollment premiums (Part III, Column A on Form 1095-A) and/or the monthly advance payment of premium tax credit (Column C) amount are incorrect for one or more months.
- Demographics are incorrect on the form- address, social security number, or date of birth.
We will ask you to provide documentation supporting the changes you are requesting within 30 days, like proof of premium payments and household members covered. The Customer Service Center representative will let you know which documentation is needed. Corrections may take up to eight weeks to process from the date you submit supporting documentation.
You will receive new 1095-A forms due to corrections. In this case, you should use the most recent form for each Marketplace-assigned policy number – Part I line 2 of Form 1095-A. The box, “CORRECTED,” will be marked in the upper-right hand corner of Form 1095-A.
Get help with your taxes
While we can answer questions about the information on your 1095-A form, we cannot provide tax advice. If you need help filing your taxes, consider reaching out to a tax advisor or consulting the IRS website.
Our partners at Get Ahead Colorado can help you file your taxes at no cost. Get Ahead Colorado is a program of The Piton Foundation that provides resources to families in Colorado who qualify for the Earned Income Tax Credit, as well as free tax preparation through Tax Help Colorado.
Tools for you
Now that you have your Form(s) 1095-A, you might want to see if you qualify for an exemption based on affordability or double-check the amount of tax credit you qualify for.
You’ll need to know the premiums of two health plans available to your family last year to see if you qualify for an exemption based on affordable coverage: the lowest cost Bronze plan and the second lowest cost Silver plan. If the lowest cost Bronze plan available to you last year (minus any financial help you qualify for) cost more than 8.05 percent of your annual household income, you might qualify for an affordability exemption.
Figure out your Premium Tax Credit
We provide the cost of the second lowest cost Silver plan (SLCSP) in Form 1095-A in Part III (fields B21-33). However, if your Form(s) 1095-A shows zeros or incorrect amounts in those fields, use this tool to calculate the right amount — you will need it to complete Form 8962. The IRS uses the cost of this plan, your family size and your household income to determine how much tax credit you qualify for based on your federal tax return.
Keep in mind, the only way to know if you qualify for an affordability exemption is by filing your federal income tax return. Read more about health coverage exemptions and how to apply.
Tax credit FAQs
All U.S. citizens and legal residents were required to have health insurance in 2018 and prior years or face a tax penalty. All tax filers must report on their tax returns whether they had health insurance coverage in 2018.
Depending on the source of your health insurance coverage, you will receive certain tax forms to confirm that you met the requirement to have health insurance. Health insurance could include a plan through Connect for Health Colorado, insurance through your job, coverage you buy on your own, Health First Colorado (Colorado’s Medicaid Program) or Medicare.
You might get a different 1095 form depending on the health coverage you were eligible for or enrolled in last year:
|Form||Why you’re getting it|
|1095-A||You or someone in your household bought health insurance through Connect for Health Colorado.|
|1095-B||Someone in your household enrolled in Health First Colorado (Colorado’s Medicaid program), Child Health Plan Plus (CHP+), Medicare or other government-sponsored health coverage for any part of the year. Look for the organization identified as the “Issuer” in Part III of your Form 1095-B. Contact the organization for additional details.
You were enrolled in a Catastrophic plan. Contact your health insurance company for details.
You enrolled in (or were eligible to enroll in) coverage through your job. Contact human resources for details.
|1095-C||You enrolled in (or were eligible to enroll in) coverage through your job. Contact human resources for details.|
Questions about Form 1095-A or Form 1095-B from Health First Colorado? Contact Connect for Health Colorado’s Customer Service Center.
If you were enrolled in a Qualified Health Plan through Connect for Health Colorado but did not receive a Form 1095-A for that plan, call Connect for Health Colorado right away at 1-855-PLANS-4-YOU (855-752-6749) to request an initial Form 1095-A.
If you were enrolled in a Catastrophic plan, you will not get a Form 1095-A from Connect for Health Colorado. However, you might get a Form 1095-B from your health insurance company. Please contact the health insurance company directly for questions about Form 1095-B for Catastrophic coverage.
The primary tax filer in your household will go through the process of tax credit reconciliation when they file their federal income taxes. The process begins by using the information on Form 1095-A to complete IRS Form 8962. Form 8962:
- Tells the IRS how much tax credit (if any) was paid to your health plan on your behalf based on your estimated household income and size.
- Calculates the exact amount of financial help you qualify for based on the household income and size as shown your federal tax return.
If you didn’t receive all the tax credit you qualified for last year, you can collect additional tax credit when you file your taxes. However, if you received more tax credit than you qualify for, you will need to repay some or all the tax credit you received.
Limitations on tax credit repayments
The amount of tax credit that you repay might be limited based on your household income and filing status.
|Household income percentage of
federal poverty line (FPL)
|Repayment limit for
filing status “single”
|Repayment limit for
any other filing status
|Less than 200% FPL||$300||$600|
|200% – 299% FPL||$775||$1550|
|300% – 399% FPL||$1300||$2600|
|400% FPL or more||No Limit||No Limit|
No. Cost-Sharing Reductions — financial help that lowers the amount you have to pay for out-of-pocket costs like deductibles, coinsurance, and co-payments — are not considered tax credits by the IRS and are not reported on your Form 1095-A. You are not required to report receiving Cost-Sharing Reductions to the IRS and you will not be required to reconcile this amount.