UPDATE: Affordable Care Act Reporting Problem

New problems for Health Care Reform were announced by the Centers for Medicare & Medicaid Services (CMS). In a CMS blog posting dated February 20, 2015, approximately 800,000 taxpayers will soon receive a corrected Form 1095-A because the original version they were issued listed an incorrect benchmark plan premium amount. Taxpayers who received health insurance through the Marketplace should wait until the first week of March before filing their tax return to make sure they have the correct 1095-A information, which is required in order to calculate the Premium Tax Credit. For the approximately 50,000 taxpayers who already filed their return using the wrong 1095-A, the IRS will provide additional information soon. The problem only affects the 37 states using HealthCare.gov because their state does not have it’s own Marketplace.