Dec 21

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Health Insurance Marketplace Statement


SO WHAT IS A FORM 1095? —– Form 1095-A is an IRS form for individuals who enroll in a Qualified Health Plan (QHP) through the Health Insurance Marketplace. Typically it is sent to individuals who had Marketplace coverage to allow them to: Claim Premium Tax Credits.

There are numerous companies claiming to have the expertise to handle the new reporting as the demand heightens for filing Form 1095. Internet companies lacking in credibility, background in filing or reporting or who offer little to no security precautions are only looking to profit from confused employers and businesses. Do yourself, your business and your employees a favor by conducting extensive background research and use only trusted sources to file your information.

Health Insurance Marketplaces furnish this form to:

  • IRS to report certain information about individuals who enroll in a qualified health plan through the Health Insurance Marketplace.
  • Individuals to allow them to:
    • take the premium tax credit,
    • reconcile the credit on their returns with advance payments of the premium tax credit (advance credit payments), and
    • file an accurate tax return.

Permanent link to this article: http://www.fasaccounting.com/form-1095-a-health-insurance-marketplace-statement/

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