Health Care and Tax Returns
By Shane Karp
HQ AFSA Communications
For the first time since the inception of the Affordable Care Act in 2012, U.S. citizens will be required to self-attest that they possess qualifying minimum health coverage on their 2014 tax forms.
“All U.S. citizens, including service members, their families, military retirees, DoD civilians and nonappropriated employees, must report health care coverage on their 2014 taxes,” said Mark Ellis, a Defense Health Agency health care operations program analyst.
According to a press release issued by the IRS, “taxpayers whose entire tax household had minimum essential coverage for each month of their tax year will indicate this on their federal income tax return by simply checking a box on their Form 1040, 1040A or 1040EZ. No further action is required.”
TRICARE coverage meets the minimum essential coverage for the majority of service members and their families, Ellis said.
According to Ellis, the following plans include minimum essential coverage: TRICARE Prime, TRICARE Standard/Extra, TRICARE Overseas, TRICARE For Life, Transitional Assistance Management Program and the Uniformed Services Family Health Plan.
The following TRICARE coverage plans qualify for minimum essential coverage only if purchased: TRICARE Reserve Select, TRICARE Retired Reserve, TRICARE Young Adult and the Continued Health Care Benefit Program.
Self-attesting to health coverage on your tax form will be for tax-year 2014 only. In subsequent years, the Department of Defense will report TRICARE healthcare coverage to the IRS, said Ellis.
According to HealthCare.gov, those without qualifying health coverage will either have to meet the requirements for a health coverage exemption, or pay a fee when filing their federal income tax return.
Possible exemptions include: not having an affordable health insurance plan available to you, having only a short gap in coverage, having yearly household income below the tax filing threshold or if you experienced a hardship in obtaining insurance.
“Service members who have questions about TRICARE, the act and the individual coverage mandate can visit the TRICARE website and download the fact sheet,” Ellis said.
Further information on TRICARE and the Affordable Care Act, as well as the TRICARE and the Affordable Care Fact Sheet, can be found at www.tricare.mil/aca.
“All U.S. citizens, including service members, their families, military retirees, DoD civilians and nonappropriated employees, must report health care coverage on their 2014 taxes,” said Mark Ellis, a Defense Health Agency health care operations program analyst.
According to a press release issued by the IRS, “taxpayers whose entire tax household had minimum essential coverage for each month of their tax year will indicate this on their federal income tax return by simply checking a box on their Form 1040, 1040A or 1040EZ. No further action is required.”
TRICARE coverage meets the minimum essential coverage for the majority of service members and their families, Ellis said.
According to Ellis, the following plans include minimum essential coverage: TRICARE Prime, TRICARE Standard/Extra, TRICARE Overseas, TRICARE For Life, Transitional Assistance Management Program and the Uniformed Services Family Health Plan.
The following TRICARE coverage plans qualify for minimum essential coverage only if purchased: TRICARE Reserve Select, TRICARE Retired Reserve, TRICARE Young Adult and the Continued Health Care Benefit Program.
Self-attesting to health coverage on your tax form will be for tax-year 2014 only. In subsequent years, the Department of Defense will report TRICARE healthcare coverage to the IRS, said Ellis.
According to HealthCare.gov, those without qualifying health coverage will either have to meet the requirements for a health coverage exemption, or pay a fee when filing their federal income tax return.
Possible exemptions include: not having an affordable health insurance plan available to you, having only a short gap in coverage, having yearly household income below the tax filing threshold or if you experienced a hardship in obtaining insurance.
“Service members who have questions about TRICARE, the act and the individual coverage mandate can visit the TRICARE website and download the fact sheet,” Ellis said.
Further information on TRICARE and the Affordable Care Act, as well as the TRICARE and the Affordable Care Fact Sheet, can be found at www.tricare.mil/aca.