Category Archives: Health Care

Are you eligible for the Premium Tax Credit?

The premium tax credit can help make purchasing health insurance coverage more affordable for people with moderate incomes Are you eligible for the Premium Tax Credit? The premium tax credit can help make purchasing health insurance coverage more affordable for people with moderate incomes. Question 1: Did you or a family member enroll in insurance… Read More »

2016 health coverage tax information forms

IRS Extends Due Date for Employers and Providers to Issue Health Coverage Forms to Individuals On November 18, 2016, the IRS extended the 2017 due date for providing 2016 health coverage information forms to individuals. Insurers, self-insuring employers, other coverage providers, and applicable large employers now have until March 2, 2017 to provide Forms 1095-B… Read More »

Health Flexible Spending Arrangements 2017 FSA Limits

FSAs provide employees a way to use tax-free dollars to pay medical expenses not covered by other health plans. Because eligible employees need to decide how much to contribute through payroll deductions before the plan year begins, many employers this fall are offering their employees the option to participate during the 2017 plan year. Interested… Read More »

2017 HSA Health Savings Account Information

A health savings account (HSA) is a tax-exempt trust or custodial account you set up with a qualified HSA trustee to pay or reimburse certain medical expenses you incur. You must be an eligible individual to qualify for an HSA. Health savings accounts are tax-advantaged medical savings accounts that you can draw money from for certain… Read More »

Double Check ACA Information on Your Return

If you received an extension of time to file your 2015 federal tax return, you have until Oct. 17 to double check your return and information on it that is related to the Affordable Care Act. The health care law includes  the individual shared responsibility provision and the premium tax credit that may affect your… Read More »

Affordable Care Act – What to Expect when Filing Your 2015 Tax Return

Health Care Information Forms Taxpayers who are preparing to file their 2015 tax returns may receive multiple health care information forms that they can use to complete their return. The forms are: Form 1095-A, Health Insurance Marketplace Statement Form 1095-B, Health Coverage (new) Form 1095-C, Employer-Provided Health Insurance Offer and Coverage. (new) Depending upon your… Read More »

Small Business Health Care Tax Credit Information

If you are a small employer, you might be eligible for the Small Business Health Care Tax Credit, which can make a difference for your business. A small employer is eligible for the credit if (a) it has fewer than 25 full-time equivalent employees, (b) the average annual wages of its employees are less than… Read More »

2016 Health Insurance ACA Tax Filling Tips with Premium Credit

Health Coverage Reporting Requirement It’s always a good idea to prepare early to file your federal income tax return. Like last year, certain provisions of the Affordable Care Act affect your federal income tax return when you file this year. Here are two things you should know about the health care law’s coverage and reporting… Read More »

Health Coverage Tax Credit HCTC

The Health Coverage Tax Credit is a tax credit that pays 72.5% of qualified health insurance premiums for eligible individuals and their families. Instructions for claiming the HCTC for 2015. To claim the HCTC for 2015, file Form 8885, Health Coverage Tax Credit, with your 2015 income tax return. Follow the 2015 Instructions for Form 8885… Read More »