ACA: What You and Your Customers Should Know

Employers have until March 2, 2107 to submit proof of insurance forms 1095-B or 1095-C to their employees. The original deadline for submission was January 31, 2017. This extension, of course, may cause your employers and customers to receive their proof of health insurance after they have filed their returns. In this case, taxpayers can use other health insurance information to file their taxes.
Additionally, the final deadline for the Health Insurance Marketplace open enrollment is quickly approaching. Individuals planning to enroll, re-enroll or change insurance plans for 2017 need to act now or pay a penalty. The deadlines to remember are:

• January 15: This is the deadline to file and receive coverage beginning February 1, 2017.
• January 31: Open enrollment ends. Enrollment or changes between January 16 and January 31 take effect March 1, 2017.

Even individuals who plan to keep their current health plan need to update income and household information. Premium tax credits and other savings are based on expected income for 2017, not the prior year.
Remember, individuals who do not enroll by January 31 cannot enroll in a health insurance plan for 2017 unless they qualify for a special enrollment period. The special enrollment period pertains to certain life events such as marriage, birth of a child or loss of other health coverage.
The Health Insurance Marketplace is for people who don’t have insurance through a job, Medicare, Medicaid, the Children’s Health Insurance Program or another source for qualifying coverage.