If you’re a customer of Washington Healthplanfinder, you will need to file your 2014 income tax form with the Internal Revenue Service if you would like to continue receiving tax credits.
Beginning this week, customers who received advanced health insurance premium tax credits last year but did not file a federal tax return will be sent a letter from the Washington Health Benefit Exchange notifying them that they are ineligible to continue collecting health insurance premium tax credits. These customers must now pay the full price of any upcoming health insurance premium payments until they file and reconcile their 2014 federal taxes.
“Because this is the first year that a tax return must be filed in order to keep receiving tax credits, customers are just now seeing the consequences for not filing,” said Pam MacEwan, Exchange CEO. “Residents who have received tax credits in the past should reconcile those along with their tax filings in order to continue receiving lower premium payments.”
Individuals who go through the process of filing and reconciling their 2014 federal taxes may return to Washington Healthplanfinder and report this change to be screened for a Special Enrollment Period and redetermination of eligibility for advanced premium tax credits.
Last year, nearly $365 million in advanced health insurance premium tax credits was provided to approximately 80 percent of Washingtonians who enrolled in a Qualified Health Plan through Washington Healthplanfinder, according to an agency news release. Customers who qualified for tax credits received an average of $265 per month to help lower the cost of their health insurance coverage.
“It is crucial that individuals and families correctly file their federal taxes so that they can ensure they are getting coverage that meets their needs and budget for themselves and their family,” said Michael Marchand, director of communications and outreach for the Exchange.
C.R. Roberts: 253-597-8535