Kevin Knauss: Health, History, Travel, Insurance
Posts on the development and implementation of the California health insurance market place, application, account, enrollment, termination.
The IRS has issued additional guidance on ACA Advanced Premium Tax Credits and relief from certain penalties associated with the taxpayer receiving excess tax credits from a health insurance Marketplace. IRS Notice 2015-9 Penalty Relief Related to Advance Payments of the Premium Tax Credit for 2014 outlines how some taxpayers may not be subject to the penalties […]
One of the selling features of the Affordable Care Acts was that children could stay on their parent’s health plan until they turned 26 years old. Unfortunately, Covered California excludes from eligibility any household member that will not be claimed as a dependent by the primary taxpayer associated with the account. However, IRS guidance suggests that […]
Individuals and families who purchased health insurance through Covered California or another Marketplace exchange will receive a 1095-A statement of tax credits and one column will be marked SLCSP. This odd acronym stands for the Second Lowest Cost Silver Plan and is instrumental in determining the specific household Premium Tax Credit. What is affordable health insurance? […]
2015 1095-A Corrections For 1095-As that report incorrect information Covered California has switched from a paper form to an online submission form or call the service center at 1-800-300-1506. Covered California 1095-A Dispute Form The online 1095-A correction request form is great if it sends a copy of the submission to the consumer via email […]
Covered California has released a variety of documents to help tax payers enrolled in their health plans report the Advance Premium Tax Credits (APTC) on their federal 2014 tax return. The guidance from Covered California discusses the IRS Form 1095-A Marketplace Statement the tax payer will receive, using it to fill out Form 8962 Premium Tax […]
With the announcement that Blue Shield of California may be dropping Sutter Health physicians and hospitals from their list of network providers in Northern California, Blue Shield members are wondering if their health plans are any good. For all the good of health care reform under the Affordable Care Act consumers are learning that doctors […]
It is no news to the first wave of Covered California Certified Insurance Agents in 2013 that Californias online health insurance exchange was not ready for business. The number one complaint from agents was they were not receiving credit, and ultimately commissions, from the numerous individual and family enrollments they were performing. […]
Covered California solidified its role as a big marketing machine for health insurance by announcing a contest to promote its Small Business Health Option Program or SHOP. The top producer of quotes for the Covered California small group health plans will win 100 hours of telemarketing according a sales seminar slide shown during their seventh sales […]
The IRS has published a taxpayer friendly guide to assist individuals and families with attempting to calculate their Affordable Care Act tax credits. The focus of IRS Publication 5187 Health Care Law: What’s New for Individuals & Families is on the Shared Responsibility Payment (individual mandate penalty) and calculating eligible Premium Tax Credits for 2014. Pub. 5187 is […]
Anyone who did not have health insurance for a period of more than three months during 2014 will have to pay a penalty on their IRS federal tax return. This penalty is also known as Affordable Care Act Shared Responsibility Payment. The ACA has given taxpayers who went without having health insurance for a period during […]
