Yes, most consumers will find it very confusing and yes there is sufficient IRS guidance.
Consumers will fall into two broad categories, either they received tax credit for 2014 tax year or did not.
Did Not Receive Tax Credit
- Form 1040EZ – Easiest to file with some restrictions (e.g. claim no dependents and do not want to claim any advance payments of the premium tax credit)
Received and Will Claim Advance Payments of the Premium Tax Credit
- Form 1040A – Has some restrictions (e.g. do not itemize deductions, claim standard deductions and taxable income or 100k or less) or
- Form 1040 – Filed for taxable income of greater than 100k (e.g. can itemize deductions and
- Form 8962 for Premium Tax Credit http://www.irs.gov/pub/irs-pdf/f8962.pdf, the 1095-A is required when filling out Form 8962 to claim premium tax credits.
If consumers had private health insurance or had self-insured employer coverage or coverage through a government program (e.g. Medicaid or Medicare) they may receive a 1095-B. If consumers had health insurance through a large employer that had an employer-sponsored plan they may receive a 1095-C. However, 1095-B and 1095-C are optional for 2014 tax year, which means its unlikely most folks will receive one.
Unfortunately, if consumers didn’t have or maintain coverage, they will have to get an exemption or make a payment with their federal income tax return.
References:
Riddle, C. (2015). Mcol Blog – The MCOL Blog – Are the Health Coverage and Tax Credit Details for Filing 1040s Really That Complex? Retrieved from http://www.mcolblog.com/kcblog/2015/2/12/are-the-health-coverage-and-tax-credit-details-for-filing-10.html