HealthSource RI Sending Important 1095-A Tax Form to Customers
EAST PROVIDENCE, RI (January 11, 2018) – Throughout January, HealthSource RI, is sending 1095-A, Health Insurance Marketplace Statement, tax forms to 2017 customers.
Customers use Form 1095-A to report information about their insurance policy to the Internal Revenue Service (IRS) during tax season. Form 1095-A also documents any advance premium tax credit (APTC) customers received to reduce the cost of their health insurance premiums.
Nearly nine out of ten HealthSource RI customers receive financial help to pay their monthly premiums. Those who received APTC to lower their monthly premium payment in 2017, or want to claim premium tax credits at tax time, must file a federal income tax return.
Most Rhode Islanders will pay a tax penalty if they did not have health insurance in 2017. Individuals who did not maintain health coverage in 2017 may be subject to a fine of $695 per adult, $347.50 per child under 18 or 2.5 percent of their household income, whichever is greater. Despite confusion about recent federal changes, by law, individuals continue to be required to maintain health coverage in 2018 to avoid this penalty next tax season.
HealthSource RI is required to send Form 1095-A to anyone who enrolled or had a family member enrolled in health insurance through HealthSource RI for all or part of 2017. Customers can also download the statement from the ‘Notices’ tab in their secure account at HealthSourceRI.com.
Customers with questions about their Form 1095-A should call HealthSource RI at 1-855-408-1344 to speak with specially trained representatives or visit HealthSourceRI.com/get-help-tax-season. HealthSource RI staff cannot provide tax advice, but can answer questions about the 1095-A process.
Free tax preparation assistance is available for customers filing with low and moderate household incomes (approximately $54,000 or less per year) through the Volunteer Income Tax Assistance program sponsored by the IRS. To find a location near you, call Rhode Island 2-1-1, visit irs.gov/Individuals/Free-Tax-Return-Preparation-for-You-by-Volunteers or go to the ‘Help during Tax Season’ section of HealthSource RI.com for a list of locations opening in late January.
Rhode Islanders who are covered through their employer or Medicaid (no-cost insurance) will not be receiving a 1095-A form. Customers in these plans will receive Form 1095-B: Health Coverage or Form 1095-C, Employer-Provided Health Insurance Offer and Coverage.