Author Topic: ACA form 1095a and SLCSP  (Read 367 times)

geekette

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ACA form 1095a and SLCSP
« on: January 31, 2018, 06:49:40 PM »
I'm probably the only one crazy enough not to have taken an advance credit, but if you have an ACA plan and got your form 1095a without anything listed in column B (second lowest cost silver plan for your area), you can go to https://www.healthcare.gov/tax-tool/#/ to get the info needed to fill out form 8962.  Yay...

secondcor521

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Re: ACA form 1095a and SLCSP
« Reply #1 on: January 31, 2018, 06:51:54 PM »
Seems like you would also want to get a corrected 1095A.  If what you file on 8962 doesn't match what your exchange sent to the IRS, you'll probably get a computerized matching ding letter.

geekette

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Re: ACA form 1095a and SLCSP
« Reply #2 on: January 31, 2018, 07:09:56 PM »
No.  The instructions on form 1095a say if there's no number in column B, to go to the instructions for form 8962, Part II.  Way down on page 12 of the instructions, it said if it wasn't filled in, then go to the link I posted above.  I was just trying to save someone else the time.

DavidAnnArbor

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Re: ACA form 1095a and SLCSP
« Reply #3 on: January 31, 2018, 08:09:06 PM »
I have been confused about the part where you indicate how much premiums you shelled out of your pocket. Does this amount include the payment made in Dec. 2016 for the coverage month of January 2017?

jpdx

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Re: ACA form 1095a and SLCSP
« Reply #4 on: February 01, 2018, 07:31:34 PM »
Thankyou geekette for this resource.

Everyone please be aware that this form may not include what you paid for dental and/or vision plans, even if you enrolled in them on the healthcare marketplace. And those premiums are generally tax deductible if you are self-employed. So you'll want to enter those amounts somewhere else when you prepare your tax return.

I have been confused about the part where you indicate how much premiums you shelled out of your pocket. Does this amount include the payment made in Dec. 2016 for the coverage month of January 2017?

David, no, it only includes payments for coverage in 2017.

swampwiz

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Re: ACA form 1095a and SLCSP
« Reply #5 on: February 01, 2018, 10:03:00 PM »
Something to keep in mind is that the columns don't line up properly, so be careful what columns you fill out!

Now I am fine with doing my own taxes - and indeed have set up my own spreadsheet to make doing my taxes about as pain-free as possible (i.e., proactively attacking the problem) - but I can only imagine how frightening that form must be for most folks getting the PTC (they are all lower-income after all).  It is so much better to have the ObamaRomneyHeritageCare Medicaid expansion - and being eligible for AARP, I don't have to worry about my governor mandating work requirements to keep it (something I am very disappointed in my Democratic Governor John Bel Edwards for thinking about, although he might be doing some counterespionage on this, so I'll have to wait to pass judgment on).

DavidAnnArbor

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Re: ACA form 1095a and SLCSP
« Reply #6 on: February 02, 2018, 11:01:50 AM »
Thankyou geekette for this resource.

Everyone please be aware that this form may not include what you paid for dental and/or vision plans, even if you enrolled in them on the healthcare marketplace. And those premiums are generally tax deductible if you are self-employed. So you'll want to enter those amounts somewhere else when you prepare your tax return.

I have been confused about the part where you indicate how much premiums you shelled out of your pocket. Does this amount include the payment made in Dec. 2016 for the coverage month of January 2017?



David, no, it only includes payments for coverage in 2017.

But the payment made at the end of 2016 is for coverage in 2017 - the month of January

geekette

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Re: ACA form 1095a and SLCSP
« Reply #7 on: February 02, 2018, 01:32:36 PM »
Thankyou geekette for this resource.

Everyone please be aware that this form may not include what you paid for dental and/or vision plans, even if you enrolled in them on the healthcare marketplace. And those premiums are generally tax deductible if you are self-employed. So you'll want to enter those amounts somewhere else when you prepare your tax return.

I have been confused about the part where you indicate how much premiums you shelled out of your pocket. Does this amount include the payment made in Dec. 2016 for the coverage month of January 2017?

David, no, it only includes payments for coverage in 2017.

But the payment made at the end of 2016 is for coverage in 2017 - the month of January

You report the money paid for Jan/Dec '17, not paid during Jan/Dec '17.