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Attention All
Pre-65 HCTC Eligible Insurance Participants
January 2017 is here and if you are a Pre-65 HCTC Eligible
Retiree/Dependent participant, you will now be responsible for making the
27.5% insurance premium payment each month you remain enrolled in the
Advanced Monthly Payment program (AMP). Benistar, the plan
administrator will no longer manage your payment process. To avoid
having to pay 100% for your insurance premium each month, the IRS/HCTC must
receive your 27.5% premium payment no earlier than the 22nd of the current
month but before the 10th of the month the premium is applied to! Example:
Your February premium payment must be received by the IRS/HCTC between
January 22 and February 10. If you send in your payment at any other time,
it will not be applied to your February insurance premium.
Updated process:
- Whether newly
enrolled in the IRS/HCTC Advanced Monthly Payment Process (AMP), or an
HCTC participant transitioning from the “interim AMP process”
established in July 01, 2016, the new program managed completely by
the IRS/HCTC has changed. You will receive a “Welcome” letter to
the new program, effective January 01, 2017. It is extremely
important to save this letter once received.
- The IRS/HCTC
“Welcome” letter will include your individual “Participant
Identification Number” (PIN) at the top of the page. This PIN
is your account number and will enable the IRS/HCTC to identify you
and the cost of your plan as well as your length of eligibility for
the HCTC program. The PIN must be included each month on your
payment voucher, along with your form of payment (check/money order/
certified check only) for your 27.5% insurance premium payment.
- It will be your
responsibility to make sure the information on your form is correct
and all areas are completed properly, especially the PIN number,
prior to mailing it to the IRS/HCTC. Benistar has been
extremely helpful by providing all AMP interim program members
enrolled in the HCTC program prior to December 2016, with prefilled
vouchers. This will help, by only requiring HCTC participants
to add their PIN number to the voucher. If you did not receive the
forms from Benistar, please follow the instructions outlined in the
letter you received from the IRS/HCTC, to complete the voucher.
- If you intend
to complete the form electronically for you to print and mail you
must download and save the voucher to your computer.
- Once downloaded
and saved to your computer, you will be able to fill out the form
electronically. By completing the top portion of the form, the
bottom portion of the voucher will automatically populate.
- If you don’t
have a computer or if you have difficulty with downloading the
voucher, we suggest you ask a family member, a friend or a local
business center to print the voucher to complete it manually using a
pen. You can make multiple copies for future payments for the
remainder of the year as well.
- For many of you
already enrolled in the “Interim” Payment Process prior to January
2017, Benistar, the plan administrator, has taken the necessary steps
to transition your eligibility information to the IRS/HCTC:
- Your completed
13441-A IRS/HCTC form
- Made your
January 2017 of 27.5% premium payment to the IRS/HCTC.
- Provided the IRS/HCTC
with all your eligibility documents collected
- If you were
enrolled in the “Interim Program” and used the Electronic Funds
Transfer (EFT) process, Benistar will no longer be deducting your
27.5% premium payments from your bank account. You now must
make your payment directly to the US Treasury-HCTC and mail your
payments directly to the IRS/HCTC address below.
- Beginning with
the February insurance premium, you will be required to complete and
include the voucher with your payment. Whether you complete the
voucher electronically by downloading to your computer or manually
with a pen, the bottom of the voucher must accompany your payment.
The top portion of the form can be kept for your records. Remember,
the payment must be received before the 10th of the month at this
address:
US Treasury – HCTC
P.O. Box 970023
St. Louis, MO 63197-0023
- Personal Check, Money Order or Certified Check are the
acceptable forms of payment to the IRS. No credit card payments
or other forms of payment will be accepted.
- You must send in
the correct amount each month for your 27.5% premium. If you
send in less than the required 27.5% payment for the plan you have
selected, your payment will be rejected and you will be required to
make a 100% payment to Benistar, the plan administrator, for that
month. You will have the ability to file for the 72.5% credit on
your Federal taxes at the end of the year. 100% payment will be
required for each month you fail to send in sufficient money to cover
your 27.5% premium OR if the IRS/HCTC does not receive your
payment by the 10th of the month deadline.
- If you pay more
than required for your 27.5% premium when making your monthly payment,
the IRS/HCTC will return the overpayment. It will not be applied
to future premium payments. Any refund from the IRS could take
several months, therefore, we urge you to send the exact amount
requested to cover your 27.5% monthly premium.
- Please remember
you cannot make premium payments in advance of the 22nd of the month
before the premium is due, and you cannot overpay in anticipation of
credit for future premiums.
- If you are a
member of the Pre-65 Insurance program and pay 100% of the insurance
premium but do not qualify for the HCTC program, you will continue to
have the option of using the EFT process for making your payments for
your insurance each month through Benistar.
Process
for making a timely payment for 27.5% insurance premium for February 2017
- Complete the
voucher that you have received from Benistar or found on the IRS
website from the “Welcome” letter by either downloading electronically
or manually with a pen if printed. Insure that the form includes
your Participant Identification Number (PIN)
- Include the
personal check, money order or certified check made payable to “US
Treasury – HCTC” and the completed bottom half of your voucher in an
envelope addressed to:
US Treasury – HCTC
P.O. Box
970023
St. Louis, MO 63197-0023
- Mail your 27.5%
insurance premium payment for February after January 22nd but in time
to be received no later than February 10th. Allow ample time for
your payment to be received by the IRS/HCTC, processed, and placed in
your account.
- Remember, your
payment must arrive in the IRS hands no later than the 10th of each
month.
- If you send a
payment too early, the payment will be returned and you will be
required to pay 100% of the cost of your insurance premium for that
month. It may take several months to receive your money from the
Treasury Department.
Unlike the payment process
used for people participating in the “interim process” that has just
concluded, you will not be paying one month ahead, you will now be
paying the month you use the insurance which makes it very important to
make your premium payments in a timely manner, to avoid having your
insurance benefits terminated for lack of payment.
Information for Filing your Taxes for 2016 If you are
claiming the 72.5% subsidy credit for the months you paid 100% of cost of
your insurance premium in 2016, the links for information can be found
below.
You will need to follow special
instructions to claim the HCTC for 2016 when you file your federal
income tax return in 2017. You will file Form 8885, Health
Coverage Tax Credit, and attach documentation that shows that you were an
eligible individual for the HCTC and that the premiums claimed for your
2016 coverage were paid.
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