Tag Archive for Health Coverage

What to Do if You Don’t Receive Your Health Care Information Forms

This year, you may receive one or more forms that provide information about your 2015 health coverage; these forms are 1095-A, 1095-B and 1095-C. The IRS does not issue these forms and cannot provide you with a copy of any of these forms.

This tip provides guidance about what you should do if you are expecting to receive any of these forms, but do not have them by the time you are ready to file your tax return.

Form 1095-A, Health Insurance Marketplace Statement, provides you Read More

Written by | Posted in Health Care

Proposed Rules Address Minimum Value Of Health Coverage For Premium Tax Credits

The IRS issued proposed regulations for determining whether an eligible employer-sponsored health plan provides minimum value for purposes of the Sec. 36B health insurance premium tax credit (REG-125398-12). Individuals do not receive the credit if they are eligible for affordable coverage under an eligible employer-sponsored plan that provides minimum value. Employers whose employees receive the health insurance premium tax credit may be liable for the Sec. 4980H “assessable payment.”

When the final regulations for Sec. 36B were issued in May 2012, they did not cover the definition of minimum value; the IRS requested comments on that issue (T.D. 9590, Notice 2012-31). The comments that the IRS received were considered in drafting the proposed rules.

Prop. Regs. Sec. 1.36B-6(a) states that a plan provides minimum value only if the plan’s share of the total allowed costs of benefits provided to an employee is at least 60%.  Minimum value may be calculated using one of four methods: Read More

Written by | Posted in TaxConnections