Make sure you don’t Miss out on your Subsidy for the 2016 Plan Year

health

Some of you who are Individual Pre-65 Public Exchange member may have recently May have recently received a notice from the IRS to file your 2014 Federal Tax Return Form 8962. this is for member who receive Advanced Premium Tax Credit(APTC) or Cost Sharing Reduction(CSR). This Tax Form is what must be completed for keeping the APTC and CSR  for the 2016 plan year.

If you have gotten health insurance from the marketplace please make sure you have completed the 2014 Tax form.

If you have completed the 8962 form no action needs to be taken.

If you have not files with this form you need to take action by electronically submitting this form electronically with your 2014 fax return.

The IRS site advises that you complete these steps within 30 days of receiving the letter regarding completing this information in order to avoid missing out of subsidies or having coverage dropped for affordability reasons for the 2016 plan year.

For more information you can visit the IRS site at http://www.irs.gov/Affordable-Care-Act, or contact WTM to speak with our benefits specialist to answer any questions you many have regarding this.

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