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Under the Affordable Care Act, everyone who can afford to is now required by law to have health coverage. If you can afford health coverage but chose not to buy it, you may have to pay a fee.
However, those who can’t afford coverage or meet other conditions may qualify for an exemption. It is important for individuals to know that exemptions are available and to understand the steps they need to take to request one.
If you qualify, receiving an exemption is simple and easy, and means you won’t have to pay a fee. There are a variety of exemptions available. You can claim most exemptions on your tax return, but some exemptions are only available through the Health Insurance Marketplace. See this chart for more information on the types of exemptions available and how to apply.
The federal Department of the Treasury announced on March 20, 2015 that Connect for Health Colorado customers who filed a tax return using Form 1095-A information that was later corrected will not be required to file an amended tax return. Those taxpayers can file an amended return if they choose. View the full announcement and frequently asked questions for more information.
Help Is Available
- For more information about how the Connect for Health Marketplace will affect taxes, visit HealthCare.gov/taxes or call the Marketplace Call Center at 1-800-318-2596. TTY users should call 1-855-889-4325.
- Many people who signed up for Marketplace coverage can get free assistance with filling out their taxes. This may include free access to tax software programs or free in-person assistance. For more information, visit IRS.gov/freefile or IRS.gov/VITA
- If consumers have questions about their taxes, need Form 8962 or Form 8965, or want to learn more about the fee for not having health coverage, they should visit IRS.gov/ACA.