In preparation for the 2015 tax filing season, which officially begins next week, the U.S. Department of Health and Human Services and the Treasury Department released today a fact sheet detailing information Texas tax filers need to know as they prepare to file their federal returns.
This tax season marks the first time individuals and families in Texas will be asked to provide basic information regarding their health insurance on their tax returns. Consumers will have questions about this new process and the Administration is committed to providing the information and tools tax filers need to understand the new requirements.
In the coming weeks, the administration will continue to provide additional resources to help consumers prepare for tax filing season, including online tools to help individuals connect with local tax preparation services and determine if they are eligible for an exemption.
For more information about this effort – or to request an interview with an official from the Department of Health and Human Services, contact email@example.com or call 202-690-6145.
The 2015 tax season is the first time individuals and families will be asked for some basic information regarding their health insurance on their tax returns.
While the vast majority of tax filers – over three quarters – will just need to check a box on their tax return indicating they had health coverage for all of 2014, people who purchased coverage through the Health Insurance Marketplaces, or decided not to enroll in coverage, should be aware of the additional steps that will be a part of the tax filing process starting this year.
Consumers will have questions about this new process and the Administration is committed to providing the information and tools tax filers need to understand the new requirements.
Individuals and families with non-marketplace coverage for all of 2014.
Most tax filers – over three quarters – will just need to check a box on their tax return to indicate that they had coverage all year. These people met the Minimum Essential Coverage requirement, which means that they had the basic health coverage necessary to meet the Affordable Care Act’s standards. These individuals and families will not receive any new forms in the mail and they will not be required to fill out new forms when they file their 2014 income tax returns.
What consumers need to know:
When you file your tax return, you’ll need to check a box to indicate that you and your family had health insurance for all of 2014.
Types of health coverage necessary to meet the Affordable Care Act’s standards (Minimum Essential Coverage) include:
Most job-based plans, including retiree plans and COBRA coverage
Medicare Part A or Part C
The Children’s Health Insurance Program (CHIP)
Most individual health plans you bought outside the Marketplace, including “grandfathered” plans. (Not all plans sold outside the Marketplace qualify as minimum essential coverage.)
If you’re under 26, coverage under a parent’s plan
It’s important to note that filing electronically is the easiest way to file a complete and accurate tax return. Last year, approximately 85 percent of taxpayers e-filed. Electronic Filing options include free Volunteer Assistance, IRS Free File and professional assistance.
Individuals and families who had a health plan through the Health Insurance Marketplace in 2014.
Last year millions of people purchased quality, affordable coverage through the Health Insurance Marketplace, and most benefitted from a tax credit to lower the cost of their monthly premium. Now that tax season is here, individuals and families enrolled in a health plan through the Marketplace will need to provide some basic information about their health insurance when they file their taxes. All Marketplace consumers will receive a new statement – called a Form 1095-A – that includes all the information they need about their coverage to file their return.
What consumers need to know:
You will receive Form 1095-A in the mail from the Marketplace by early February. In most states, you can also download a copy of your statement through your Marketplace account starting in late January or early February.
It’s very important to wait for your Form 1095-A to arrive before you file your taxes. If you haven’t received a Form 1095-A by early February, you should contact the Marketplace Call Center at 1-800-318-2596. TTY users should call 1-855-889-4325.