The Internal Revenue Service (IRS) has ended Patient Protection and Affordable Care Act (PPACA) tax form watchers' suspense by releasing an eagerly awaited draft of the 2015 instructions for Form 8965.
Individual and families will use Form 8965 to claim some exemptions from the PPACA individual health insurance coverage mandate for 2015 and to notify the IRS of the existence of exemptions provided by the PPACA public health insurance exchange system.
Individuals and families will also use the form to calculate and pay the "individual shared responsibility" penalties now imposed on affected taxpayers who fail to have what regulators classify as minimum essential coverage (MEC) for enough of the year.
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Allison Bell
Allison Bell, a senior reporter at ThinkAdvisor and BenefitsPRO, previously was an associate editor at National Underwriter Life & Health. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached through X at @Think_Allison.
