Health Care

Paul,

I understand your concerns.  Since you were married I am sure she has all of your sensitive information from tax returns you filed in the past. 

I don't see the need to provide her with the 1095A if your divorce decree indicates you are covering the insurance for both of your children.  I don't understand why she would be requesting this information from you as she would be filing her tax returns.

I hope this helps,

Jeanne Adams, CPA

Firestone, CO

For 2018, you are required to have minimum essential health coverage through an employer plan, a government program, or other plan, or pay a penalty. The mandate does not apply after 2018.

To help those of modest means pay premiums for coverage obtained from a government exchange (Marketplace), there’s a premium tax credit . Eligibility for this advanceable, refundable tax credit depends on your household income and other factors.

The credit continues to be available even though the individual mandate ends after 2018.

If you or a family member enrolled in health insurance coverage through your employer, your employer must issue a Form 1095-B or 1095-C.
This form provides the required information on a monthly or annual basis to complete IRS Form 8962. Form 8962 is used to calculate a Premium Tax Credit or a Repayment on your current year's tax return.
Your employer has also reported this information to the IRS.

The maximum out of pocket cap for 2016 will increase to $6,850 for an individual and $13,700 for a family policy.
The maximum out of pocket cap for 2017 will increase to $7,150 for an individual and $14,300 for a family policy.
The maximum out of pocket cap for 2015 will increase to $6,600 for an individual and $13,200 for a family policy.
The 2014 maximum out of pocket cap was $6,350 for an individual and $12,700 for a family policy.

If you need help you can call the federal Health Insurance Marketplace at 800-318-2596.

In 2016, the penalty for not having health care coverage is the higher of 2.5 percent of your income or $695 per adult and $347.50 per child with a maximum penalty per family of $2,085
The penalty will be reported on your 2016 tax return.
In 2015, the penalty for not having health care coverage is the higher of 2 percent of your income or $325 per adult and $162.50 per child with a maximum penalty per family of $975.
The penalty will be reported on your 2015 tax return.
The penalty for not having health care coverage in 2014 was the higher of 1 percent of your income or $95 per adult and $47.50 per child with a maximum penalty per family of $285.

If the marketplace underestimated your income when calculating your advance payment and you do not claim any health coverage exemptions then you will probably have to repay a portion of the advance payment. The premium tax credit will be reported on new IRS Form 8962.
Other factors that can cause a penalty calculation is that you received a advanced payment and your filing status is married filing separately or as a dependent of another or your household income is above or below certain limits.