If you are enrolled in Medicare, you do not need to do anything with Covered California. If you have Medicare you are covered. No matter how you receive your Medicare benefits, whether through Original Medicare or a Medicare Advantage Plan, you will have the same benefits and security you have now. You will receive new benefits, such as more preventive services and increased savings on brand-name drugs.
IRS letters request 2014 tax filing to maintain ACA premium tax credits
File As Soon As Possible to Maintain Eligibility for Advance Payments of the Premium Tax Credit August 25, 2015 Issue Number: HCTT-2015-52 The IRS is sending letters to taxpayers who received advance payments of the premium tax credit in 2014, but who have not yet filed their tax return. You must file a tax return to […]
2014 IRS ACA Tax Credit, Penalty and Exemption Forms
The IRS has released a variety of documents related to reporting Affordable Care Act Advance Premium Tax Credit reconcilation, exemptions from the mandate to have health insurance coverage, and directions for caculating the Shared Responsibility Payment. Before taxpayers can crunch the numbers on their tax refund or liability they will have to either either a […]
Review of IRS draft ACA tax credit reconciliation forms
With the release of the draft IRS forms for reporting advance premium tax credits and reconciliation with the household MAGI, health insurance agents might be called upon to know another part of the ACA, the dreaded tax forms. The variety of reporting statements individuals and families may receive from employers and the exchanges will require […]
IRS mid-year ACA tax credit check up
The IRS issued a mid-year ACA tax credit check up advisory to remind individuals and families to report household changes if they are receiving Advance Premium Tax Credits to lower their monthly health insurance premiums. Most notable is the admonition that if the household income exceeds 400% of the federal poverty lineas reported on their […]