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.