ACA Tax Training Webinar Part I: Basic Certification Topics
Minimum Essential Coverage, Exemptions and the Shared Responsibility Payment
In this webinar, presented on October 26, 2015, Tara Straw, Senior Health Policy Analyst at CBPP, covers topics VITA/TCE volunteers must know to certify at the Basic level. This includes determining whether each person in the household had coverage for each month of 2015, whether a coverage exemption applies, and how to calculate the shared responsibility payment. We’ll cover changes to the exemptions and introduce two new tax forms filers may receive to indicate that they had insurance coverage.
This is the first session in a webinar series “ACA: What Tax Preparers Need to Know” that explains what volunteer tax preparers, outreach partners and others need to know about the Affordable Care Act to complete 2015 tax returns and to assist low-income tax clients.
Presentation Slides
View slide deck PDF.
Watch the Webinar
Introduction and 2014 Tax Season
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Webinar agenda
Shared responsibility payment overview
2014: VITA/TCE tax year in review
- Shared responsibility payment and exemptions
- Premium tax credit
What’s New for Tax Year 2015
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New VITA/TCE scope
Anticipated TaxWise changes
New reporting statements: Forms 1095-B and 1095-C
Updates on coverage exemptions
2015 shared responsibility payment
Minimum Essential Coverage (MEC)
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What counts as minimum essential coverage?
FAQs on minimum essential coverage
Forms 1095-A/B/C (video section, slides)
- Form 1095-B
- Form 1095-C
- Handling missing or incorrect 1095s
Q&A: Part I
Exemptions
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Exemptions for the coverage requirement
IRS Exemptions: Form 8965, Part II: Coverage exemptions for the household (video section, slides)
IRS Exemptions: Form 8965, Part III: Coverage exemptions for individuals (video section, slides)
- IRS exemption: Medicaid coverage gap (video section, slides)
- IRS exemption: Short coverage gap (video section, slides)
- IRS exemption: Affordability exemption (video section, slides)
- IRS exemption: Certain noncitizens (video section, slides)
- IRS exemption: Born, adopted or died (video section, slides)
Marketplace Exemptions: Form 8965, Part I (video section, slides)
- Marketplace exemptions: Hardship
Shared Responsibility Payment
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Calculating the shared responsibility payment
- Example: Single individual
- Example: Family of four
Q&A: Part II
Additional Resources
- PowerPoint Presentation | Download PPT slides
- Resource links | View resource links
- ACA: What Tax Preparers Need to Know Webinar Series | View series