Take Action Now to Avoid an IRS Penalty
The Affordable Care Act (Obamacare) is still the law of the land. The recent passage of the tax bill does not get rid of the individual mandate, which is the tax penalty for not having health insurance, until January 2019.
To avoid a penalty when you file your taxes this year, make sure the government knows you have health insurance. As part of the Affordable Care Act, Florida Blue must report to the Internal Revenue Service the dates of coverage and the social security number or Individual Taxpayer Identification Number for all members.
Later this month, you may receive a letter from us asking for this information for everyone covered by your plan. Please respond as soon as you can. Providing this needed information will help ensure you get credit for having health coverage and avoid penalties for no coverage (the individual mandate). You’ll also avoid the possibility of being assessed a $50 penalty by the IRS for failing to provide this information.
Whether you buy insurance on your own or have coverage through your employer, here’s how you can make sure we have the correct information for you and your family:
- If you have insurance through your employer, make sure your human resources representative has correct information for you and your dependents.
- If have an Individual plan for you and your family, verify or update your information one of three ways:
- Respond right away to our letter. For your convenience our letter will include a form for you to provide the requested information and a return envelope, or
- Log in to your floridablue.com member account here, or
- Call Florida Blue at 800-352-2583.
Get the credit, not the penalty! Please update your information before December 31. If you need help, call us at 800-352-2583.
Filed under: Member News