Frequently Asked Questions: Connect For Health Colorado Marketplace – Taxes

You will not get a form 1095-A if you have health coverage from another place like a job, a plan you bought outside the Connect for Health Colorado Marketplace, Health First Colorado (Colorado’s Medicaid Program), Medicare, or Child Health Plan Plus (CHP+).

For more information about how your Connect for Heath Colorado Marketplace coverage will affect your taxes, visit HealthCare.gov/taxes or call the Marketplace Call Center at 1-800-318-2596 (TTY: 1-855-889-4325) or visit ConnectforHealthCO.com or call their Service Center at 1-855-752-6749 (TDD 1-855-346-3432).  Consumers can also 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 you have additional questions about your taxes, need form 8962, or want to learn more about the fee for not having health coverage, visit IRS.gov/aca.

Form 1095-A is a tax form that will be sent to consumers that have been enrolled in health insurance through the Connect for Health Colorado Marketplace in the past year. Just like you get a W-2 from your employer, consumers will get the form 1095-A from Connect for Health Colorado. If you bought a health plan through Connect for Health Colorado in the past year, you’ll need the form 1095-A for your federal income tax return. Similar to how households get multiple W-2s if individuals have multiple jobs, some households will get multiple form 1095-As if they were covered under different private health insurance plans or changed plans during the year. Consumers will get their form 1095-A in the mail by early February.

Consumers receive Form 1095-A because they or their family member(s) enrolled in health insurance coverage through the Connect for Health Colorado Marketplace in the past year. Form 1095-A provides important information that consumers need to complete their form 8962, Premium Tax Credit (PTC). The form 8962 is only for Coloradans who purchased insurance through Connect for Health Colorado. The IRS has published instructions on how to complete the form 8962. Form 1095-A includes the following information consumers need to help complete their federal income tax return:

• Information about anyone in consumers’ households who enrolled in a health plan through the Connect for Health Colorado for 2014.
• Information about the monthly premiums consumers paid to their health plans.
• The amount of any advance payments of the premium tax credit that were paid to consumers’ health plans in 2014. These are the payments that lowered what consumers paid for their monthly premiums.
• The cost of a “benchmark” premium used to determine the amount of consumers’ premium tax credit.

Connect for Health Colorado will mail form 1095-A to the policyholder’s last known address provided to Connect for Health Colorado.

• All households who were enrolled in a Connect for Health Colorado qualified health plan, regardless of whether members of the household received financial assistance, will receive form 1095-A. Each member of a tax household, who is on the same policy, will be listed together on one Form 1095-A.
• Connect for Health Colorado will not provide form 1095-As to consumers who were enrolled in only a catastrophic coverage or a stand-alone dental plan because they do not qualify for the Premium Tax Credit.