Moving Can Affect Your Health Insurance Premium Tax Credit
IRS Health Care Tax Tip 2014-17, Sep. 12, 2014
Moving may change your eligibility for a Marketplace plan, which may affect the appropriate amount of advance payments of the premium tax credit that the government sends to your health insurer on your behalf.
Also, check out Other IRS Health Care Tax Tips
Affordable Care Act Tax (ObamaCare) Provisions
Questions and Answers
IRS Q&A Page
The IRS has prepared an extensive set of Questions & Answers regarding the law, divided into three primary categories and numerous sub-categories. The primary categories are:
Individuals and Families
Other Entities and Organizations
How Obamacare Subsidies Could Impact Your Tax Refund
CBS/AP August 25, 2014, 10:05 AM
If you depend on your tax refund and you're one of the millions of Americans getting tax credits to subsidize your health insurance premiums, , then complex connections between the health law and the tax code can reduce or even eliminate your tax refund next year.
Affordable Care Act (ObamaCare) Information
Healthcare Law: What's New For Individuals & Families
IRS Enews 2015-3 (Jan 2015)
Publication 5187 provides information to help you and your clients understand the Affordable Care Act and its effect on their taxes. This publication explains how taxpayers satisfy the individual shared responsibility provision by maintaining minimum essential coverage, qualifying for an exemption from coverage, or making a shared responsibility payment. It also provides information about the premium tax credit, which helps make health coverage more affordable for eligible taxpayers. You will also find a glossary that defines terms related to ACA.
Georgia Health Insurance Exchange
Each state has its own Marketplace for health insurance, also known as an Exchange. The Marketplace, which lets you shop for and buy insurance in person, online, or by phone, is mainly for:
People who don’t have insurance.
People who aren’t insured by their employer.
People with pre-existing conditions who may have had trouble getting insurance before.
WebMD is monitoring your state's health insurance Marketplace to keep you up-to-date. Get the latest on important changes that could impact your health care costs and benefits.
In Georgia, the federal government operates the health insurance Marketplace.
New Health Insurance Tool for Business Owners
By Julie Edgar Reviewed by Lisa Zamosky
WebMD Health News 7 Aug 2013
On Thursday [1 Aug 2013], the Obama administration launched a "one-stop" web site intended to help business owners explore and understand their health insurance options under the Affordable Care Act.
The new “wizard tool” is for businesses of all sizes. It brings together information from the Health and Human Services Department, the Small Business Administration, and the Treasury Department.
The site, Business.USA.gov/healthcare, allows users to enter their location, size of business, and future insurance plans, and create a menu of information options. It also connects employers to information about tax credits and other aspects of the Affordable Care Act.
Along with individuals and families, businesses with 50 or more employees will be required to either carry health insurance for their employees or face a penalty for failing to do so. The law goes into effect Jan. 1, but the start date for the business requirement has been moved from Jan. 1, 2014, to Jan. 1, 2015. Smaller businesses (those with fewer than 50 employees) may qualify for tax credits if they choose to offer health insurance.
IRS Website Explains Tax Provisions of the Health Care Law; Provides Guide to Online Resources
e-News For Tax Professionals Issue #2013-33 16 Aug 2013
The IRS has launched a new Affordable Care Act Tax Provisions website at IRS.gov/aca to educate individuals and businesses on how the health care law may affect them. The new home page has three sections, which explain the tax benefits and responsibilities for individuals and families, employers, and other organizations, with links and information for each group. The site provides information about tax provisions that are in effect now and those that will go into effect in 2014 and beyond.
Also see: IRS Q&A For Tax Professionals
to find forms, publications, instructions and answers to common questions.