Corrections To Form 1095-A May Require Amended Returns

Corrections To Form 1095-A May Require Amended Returns

Taxpayers who receive corrected 2017 Forms 1095-A, Health Insurance Marketplace Statement, may need to file an amended return, if they have already filed, the IRS has reported. The Service highlighted some corrections that may require an amended return. The Service also instructed taxpayers what to do if they receive a "void" Form 1095-A.

Take away. Taxpayers who believe that they received a corrected or void Form 1095-A by mistake should contact the Health Insurance Marketplace and not the IRS.

Form 1095-A

Individuals with coverage through the Health Insurance Marketplace receive Form 1095-A from the Marketplace. Form 1095-A describes the health coverage. This includes the dates of coverage, the amount of the second lowest cost Silver plan premium (used to determine any premium assistance tax credit), and any amounts of advance payments of the credit. 2017 Forms 1095-A were due to Marketplace enrollees by January 31, 2018.

Some Marketplace enrollees may receive more than one Form 1095-A. This generally occurs when an individual changed Marketplace plans during the year, or if different household members had different plans.

Corrections

Taxpayers who have already filed their 2017 returns should determine the impact, if any, corrections on Form 1095-A may have on their returns, the IRS advised. The Service explained that corrections likely affecting a return include changes to the number of individuals covered, or their ages; changes to monthly premium; changes in the amount of the second lowest cost Silver plan premium; changes in advance payments of the premium assistance tax credit; and changes in months of coverage.

Void Forms 1095-A

The Health Insurance Marketplace may also issue a void Form 1095-A. Generally, this occurs when an individual applied for Marketplace coverage but did not complete his or her enrollment, the IRS explained.

A void Form 1095-A would affect a taxpayer’s eligibility for the premium assistance tax credit, the IRS cautioned. Only individuals who enroll in coverage through the Health Insurance Marketplace may claim the credit. If a taxpayer did not complete enrollment in the Marketplace, he or she would be ineligible for the credit.

Reference: TRC HEALTH: 3,050.

 

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