In an alert from CMS, Centers for Medicare and Medicaid Services, they warn that the Federally Facilitated Marketplaces, or FFMs, are working with the Internal Revenue Service to confirm that consumers have reconciled their advance payments of the premium tax credit they received during the plan year 2014.
Read what the IRS says about reconciling this.
If the Federally Facilitated Marketplace and the Internal Revenue Service determine that you failed to complete the 2014 reconciliation, you could lose your current plan year tax credit by October 2016. Then, you could be re-enrolled in coverage for the plan year 2017 without any tax credit.
You may register now for the “IRS Data Recheck of Failure to File and Reconcile 2014 APTC Population” webinar on June 2 from 1:00 PM to 2:00 PM Eastern Time (ET) to learn more on these new rules.
To register for the webinar, please log in to www.REGTAP.info. If you have questions on the webinar registration process, visit the “Upcoming Agent and Broker Webinars” section of the Agents and Brokers Resources webpage for more information.