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.
The IRS requires you to 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
Connect for Health Colorado mails 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 Customer 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 verify the information. 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 Connect for Health Colorado 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
Tax Help Colorado offers free, in-person tax preparation assistance to families who earn less than about $55,000 a year. These tax assistance sites can help get the Earned Income Tax Credit and the Child Tax Credit when you file your taxes.
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.