Successfully Navigating the Tax Filing Moment

© 2015 Enroll America and Get Covered America EnrollAmerica.org | GetCoveredAmerica.org 01-26-2015

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Successfully Navigating the Tax Filing Moment

January 26, 2015


Agenda

I. Welcome Zachary Baron (moderator), Senior Policy Analyst in the Best Practices Institute, Enroll America

II. ACA Tax Issues & How TurboTax Can Help

Lisa Greene-Lewis, CPA, TurboTax Blog Editor

III. Practical Advice for Tax Preparation Partnerships

Cheryl O’Donnell, Arizona State Director, Enroll America

IV. A Successful Model in Texas

Elizabeth Colvin, Director of Insure Central Texas, Foundation Communities

V. Q&A Submit your questions at any time using the chat box.


Why is the Tax Filing Moment Unique?

•  New opportunities to raise awareness about coverage (and challenges)

•  Powerful window to highlight financial help

•  Helps capitalize on the real impact of the fine to motivate consumers to take action


Mentioning the Fine Amount

•  Our research shows consumers underestimate the fine

•  More than 85% didn’t know it could exceed $300

•  BUT explicitly mentioning the

amount changes the story

Intuit Confidential and Proprietary

ACA Tax Issues and How TurboTax Can Help Lisa Greene-Lewis CPA and Tax Expert for TurboTax®

January 26, 2015



•  Information about how the ACA will affect taxes • Options for finding financial assistance to purchase health insurance

TurboTax and Enroll America Partnership



• New Reporting Requirement on Taxes •  1095-A Form • Advance Premium Tax Credit

• Penalties • Exemptions

What’s New About Filing Taxes This Year?


How TurboTax Helps You Easily Report Your Health Insurance on Your Taxes



• For the almost 9 out of 10 Americans who were already insured in 2014, reporting health care will be as simple as checking a box.

Insured



• Customers are not charged to file forms related to ACA • Reporting Marketplace insurance and premium tax credits

is simple

Marketplace Insurance



• More than half of the estimated 40 million Americans who are uninsured may be exempt from the penalty

•  30 plus exemptions

People Who Are Exempt



• The penalty in 2014 is $95 per adult and $47.50 per child or about 1% of household income.

• TurboTax connects people to health insurance resources to help reduce penalties.

Uninsured Americans


Thank You


III. PRACTICAL ADVICE FOR TAX PREPARATION PARTNERSHIPS Cheryl O’Donnell, Arizona State Director, Enroll America


Get Covered America Campaign

Get Covered America campaign conducts grassroots organizing and consumer outreach and education across Arizona


Added Value of Tax Preparation Partnerships

•  Amplify the message that financial help is available •  Ensure enrollees receive the appropriate amount of

financial help •  Explain the consequences of the fine and how to avoid

it


Working with VITA Programs

•  Engage consumers at VITA sites

•  Leverage “virtual/valet” services

•  Invite VITA to your enrollment events


Working with Commercial Tax Preparation Organizations

•  Engage consumers onsite

•  Assist w/ Medicaid or gap population

•  Provide SHOP outreach and employee education


Additional Tax-Related Resources

•  Other Free Tax Preparation •  AARP Tax Aide Program

•  Dealing with Tax Disputes •  IRS Taxpayer Advocate Office •  Low-Income Taxpayer Clinics


Cheryl O’Donnell Arizona State Director

Enroll America [email protected]


IV. A SUCCESSFUL MODEL IN TEXAS Elizabeth Colvin, Director of Insure Central Texas, Foundation Communities

ACA Year One

16,000 enrollment assists

5,900 individuals enrolled in QHPs

94% quali!ed for PTC

Insure Central Texas assisted 1 out of 11 Travis County (Austin) residents who enrolled in Marketplace plans.

Retail, Volunteer-Based Model

5 Enrollment + Tax Centers (open 7 days/week)

500 Volunteer Tax Preparers

100  Volunteer Certi!ed Application Counselors

ACA Enrollment, Free Tax Preparation

(VITA) & Financial Coaching

Common Goal:

Improve Financial Stability

ACA Enrollment & Tax Preparation Program Intersections

ü  Overlapping cons/tuencies ü  Overlapping calendar

ü  Similar infrastructure needs

ü  Access to tax/ACA exper/se ü  Just-‐in-‐/me educa/on + assistance

Combined Outreach & Education

ü  Flyer distribu/on

ü  Press advisories on impact of ACA on 2014 tax returns

ü  Community Coffees

What you need to know about TAXES and the Affordable Care Act For Community Leaders, Nonprofits, and Service Providers

Founda/on Communi/es offers free tax prepara/on and health insurance enrollment 7 days a week to serve the community.

Join us for coffee and learn what is new with taxes and the Affordable Care Act,

how the penalty works, and how you can connect your clients to Founda/on Communi/es’ free services.

Where: Highland Mall (6001 Airport Blvd) When: January 20 from 8:45am to 9:45am

Tax Training for Enrollment Assisters

ü  Applicant’s Filing Status

•  Married Filing Separate and excep/ons

ü  Applicant’s Tax Household •  Who can be claimed as a dependent

ü  Household Income

•  Understanding Schedule C

ü  Tax Planning for 2015

•  Household size

•  Income/Expenses

Partnerships

ü  CPAs / Tax Preparers

ü  Community Clinics

ü  Health-‐oriented nonprofits ü  Health access programs

ü  Hospitals

Uninsured single mother: 21 years old and $20,000/yr

Paid $95 penalty on 2014 tax return.

Referral from Tax Preparer

Purchased insurance for 2015 @ $24/mo = $288/yr Has comprehensive health insurance + avoids $325 penalty

Elizabeth Colvin Director, Insure Central Texas

A program of Founda/on Communi/es [email protected]

512.554.4409


Answers to Tax Questions

•  1095-A issues?

•  Exemption issues?

•  Tax filing issues?

Marketplace Call Center Tax prep organizations, Marketplace Call Center, or in-person assisters Tax prep organizations


V. QUESTIONS?

Successfully Navigating the Tax Filing Moment

Healthcare

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