Sometime in January you will be receiving these forms and you probably have questions related to it:
What is form 1095-A? What is form 1095-B? What is
form 1095-C? What is the difference between these forms? Why am I getting this
form? What should I do with form 1095-A? What to do if I didn’t receive the
form 1095-A? What if the information on form 1095-A is incorrect? How to update
the incorrect information on form 1095-A? How to get this form?
Let's explore and answer your questions!
What
is form 1095-A?
If you were enrolled in a health
plan through Covered California, then you will receive the form 1095-A for tax
filing purposes. The Form 1095-A is generated for each enrolled plan,
regardless if Advanced Premium Tax Credit (APTC) was applied. The amounts
displayed on the 1095-A reflects how much was paid to Covered California Health
Insurance companies to help with the cost of a consumer’s health coverage. A
1095-A helps ensure the amount of APTC applied is accurately reported and
serves as proof of Minimum Essential Coverage. The amount paid was based on the income information and household size
you provided. If your income changed, you may have paid too much or too little
for your health coverage.
Again, If you enrolled in a health plan through Covered
California but did not receive financial help, you will still receive a Form
1095-A to show you the months you had health insurance through Covered
California and to avoid paying the tax penalty.
If you had coverage through Medi-Cal or directly through
insurance companies outside of Covered California – then you will receive the
Form 1095-B. It basically serves the same purpose as form 1095-A and shows with
information about who was covered and when.
What is
the form Form 1095-C?
If you had health insurance coverage sponsored by your
employer (or if you were enrolled through a group health plan at work) then
your employer will send you this form as proof that you had health insurance
for. This document will have such information as who was covered and when.
Why am I getting
the form 1095-A?
As a result
of the Patient Protection and Affordable Care Act, most Americans are required
to have health insurance or pay a penalty in year 2017 and 2018. This form
tells the government when you had health coverage. It will also be used to make
sure the subsidy paid to your plan is correct based on your income as reported
to the IRS for that year Subsidies go up and down with your income. A 1095-A
helps ensure the amount you received is just right. Starting with year 2019,
the individual mandate no longer applies.
What should I do
with form 1095-A?
Save this
form — you will need it when you prepare your income taxes. Similar to a W-2, a
1095-A is one of the things that will determine the amount of taxes you will
pay or the refund you receive. You’ll use it to fill out IRS Form 8962. For
help with your taxes, consult a tax preparer. Keep in mind that You may be able
to get free help filing your taxes, including free software programs or in-person
assistance. Check out the free resources available in your community.
What
to do if I didn’t receive the form 1095-A?
If you have not
received a Form 1095-A in the mail or in your Covered California account,
complete the dispute form or contact Covered California. If you are working with an
agent, the agent might help. If you don’t have an agent, feel free to reach us,
we might be able to help. You can also log in into your CoveredCa account and
access the form.
Please note: If you
are no longer an active member of Covered California, you will not be able to
access your Form 1095-A in your online account. Please contact Covered
California to request a paper copy if you have not received it.
Covered California
members who enrolled in a minimum coverage plan (also known as catastrophic
coverage) may receive a Form 1095-B or 1095-C directly from their health
insurance company. Health insurance companies are not required to send a 1095-B
for catastrophic coverage and this form is not required to file your taxes.
What if the information on form 1095-A
is incorrect?
If the information on
your Form 1095-A is incorrect, you can contact the Covered California Service
Center to provide the right information and receive a corrected Form 1095-A, or
receive directions on how to make the necessary changes before filing your
taxes.
You can also complete
the dispute form, especially if the information is wrong or missing.
· Incorrect amount of premium tax credits.
· Wrong months of coverage listed or not shown
for covered individuals.
· Missing household members or incorrect names.
· Health coverage was terminated.
Once you file a dispute, Covered California
will respond to you within 60 days of the date of submission of the Form 1095-A
dispute form and issue a corrected form. If the changes you requested cannot be
verified or if supporting documentation is needed, you will be contacted by
Covered California. Supporting documents could include invoices from your
health insurance company that show the amount of premium tax credits you
received and the monthly premium you paid or how much premium tax credit you
were eligible for, shown in Covered California notices.
If you file your tax
return before you receive your corrected Form 1095-A from Covered California,
you may have to file an amendment to your tax return. If you do not get a new,
corrected Form 1095-A before you are required to file your taxes, you must use
the original Form 1095-A that Covered California sent you to complete Form 8962
and file your tax return.
How to update the incorrect information on form
1095-A?
As I just
mentioned, if the information is
incorrect, contact CoveredCa immediately or file a dispute to correct the
information. You might not have to wait 60 days if there are minor mistakes on
the form.
How to get this form?
In the beginning
of the year you will receive this form. Again, if you haven’t received it, log
in to you CoveredCa account (or contact your health insurance company directly)
to get this form. If you have a delegated insurance agent, the agent can help
expedite the process! If you don’t have one, feel free to reach out to us, we
might be able to help in certain cases.
Feel free to watch our video and get the answers to your questions!
In case you wonder, the penalty for not having health insurance in year 2018 is in-force, so if you didn't have health insurance in 2018 - you might be subject to a penalty. If you did have health insurance, make sure to keep the form 1095-A your received as you will need it to file your taxes.
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