Large employers can choose whether to send their workers Form 1095-C coverage information notices for the 2014 plan year.
Health insurers and sponsors of self-insured plans can choose whether to send enrollees Form 1095-B coverage information notices for the 2014 plan year.
Patient Protection and Affordable Care Act (PPACA) public exchanges have to send out Form 1095-A Health Insurance Marketplace Statement notice to exchange qualified health plan (QHP) notices for the 2014 plan year – by Jan. 31, 2015.
Consumers who are getting QHP tax credits need the notices to see whether they got the right amount of tax credit money in 2014, whether the IRS owes them money, or whether they have to come up with cash to return some of the excess tax credit money that was paid to their health insurers.
When the Internal Revenue Service (IRS) was putting the 1095-A form through a paperwork review process, analysts estimated the exchanges would have to mail about 2 million of the forms.
While public exchange program managers have been out front talking about efforts to market the QHPs, behind the scenes, they have been working on efforts to mail the 1095-A’s.
The 1095-A effort could be a new test of the exchange program’s capabilities.
For a look at what policy analysts and state exchange managers are saying about the 1095-A effort, read on.
1. Even groups that love PPACA shake their heads at how complicated the 1095-A effort seems to be.
The drafts of the PPACA forms have received an unusual amount of intention, in part because they are supposed to go to low-income and moderate-income people who may be unfamiliar with commercial health insurance, but the early drafts were difficult even for experienced tax specialists to understand.