Affordable Care Act
Bring Form 1095 to Tax AppointmentBy Shanta on February 10, 201600The Affordable Health Care Act, also known as Obamacare, introduced three new tax forms relevant to individuals, employers and health insurance providers. They are forms 1095-A, 1095-B and 1095-C. These forms help determine if you need to comply with the new shared responsibility payment, the fee you might have to pay if you don’t have health insurance. For individuals who […]
Watch for Form 1095 – A
2015 Healthcare Open EnrollmentThe Open Enrollment period for 2015 coverage is November 15, 2014 to February 15, 2015. If you haven’t enrolled in coverage by then, you generally can’t buy Marketplace health coverage for 2015 until the next Open Enrollment period for coverage the following year. If you’re enrolled in a 2014 Marketplace plan, your benefit year ends December 31, 2014. To continue health coverage […]
Administration extending health care enrollment for somePresident Obama administration has extended the health care exchange deadline for those who start the process before March 31st. Due to the mass demand, provisions are being made for individuals that have begun the process but not complete by the deadline. Officials said they would loosen the deadline for those with “complex or extenuating” circumstances that keep them from fully […]
Immigration Status and the MarketplaceFollowing is a list of immigration statuses that qualify for Marketplace coverage. Lawful Permanent Resident (LPR/Green Card holder) Asylee Refugee Cuban/Haitian Entrant Paroled into the U.S. Conditional Entrant Granted before 1980 Battered Spouse, Child and Parent Victim of Trafficking and his/her Spouse, Child, Sibling or Parent Granted Withholding of Deportation or Withholding of Removal, under the immigration laws or under […]
The Premium Tax CreditBasic Information Starting in 2014, if you get your health insurance coverage through the Health Insurance Marketplace, you may be eligible for the Premium Tax Credit. This tax credit can help make purchasing health insurance coverage more affordable for people with moderate incomes. The open enrollment period to purchase health insurance coverage for 2014 through the Marketplace runs from Oct. […]
Does the Affordable Care Act Apply to me?Download this pdf flow chart to learn more.
Understanding the Affordable Care ActThe Affordable Care Act (ACA) is a federal law that will change the rules that apply to health insurance starting in January, 2014. Many taxpayers will qualify for a new tax credit to help pay for their insurance or may qualify for free health insurance. To receive these benefits, you generally have to file your taxes-and the tax return you […]
Healthcare Update for TaxpayersHow will the Affordable Care Act affect your taxes? In just a about a day we’ll be able to start shopping for affordable heath care options. Thanks to the Affordable Care Act, aka — Obama Care or Health Reform. Whatever you choose to call it, beginning October 1st — millions of Americans will have access to a better tomorrow. On […]
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