What Is Form 1095-A: Health Insurance Marketplace Statement?
Every year, if you've got health insurance through a carrier on the Health Insurance Marketplace, they'll send you Form 1095-A. This form acts as your official record of that coverage, listing things like when it started, your monthly premiums, and any advance payments toward the premium tax credit.
You'll pull information from this form when you're doing your tax return, but remember, you don't actually send Form 1095-A to the IRS.
Key Takeaways
If you bought your health insurance through the Marketplace, expect to receive Form 1095-A. You won't need to include it with your tax return submission. But if you're eligible for a tax credit, transfer the details to Form 8962 and attach that to your return.
Who Receives Form 1095-A?
You'll get Form 1095-A if you enrolled in a qualified health plan through the federal Health Insurance Marketplace or a state exchange. It's how the exchanges give you the rundown on your coverage.
Again, no need to submit it to the IRS, but you do have to report or acknowledge the info on your tax return. If a premium tax credit applies to you, you'll likely need to include Form 8962 with your filing.
Hang onto Form 1095-A for your own records.
Important Update on Eligibility
Thanks to the American Rescue Plan of 2021, anyone with insurance from the ACA Marketplace now qualifies for a premium tax credit. Before this, if your income was over 400% of the federal poverty line, you were out of luck.
How to Use Form 1095-A
When you're prepping your tax return, use Form 1095-A to fill out Form 8962 if you're claiming the premium tax credit. The IRS advises waiting for this form before filing, since it impacts your credits, taxes owed, or refunds.
Expect to receive it by mid-January after the coverage year, either in the mail or via your Healthcare.gov account. If it's missing or wrong, reach out to Healthcare.gov.
The form breaks down each month of coverage, your premium payments, and includes your personal details like name, address, Social Security number, policy number, and insurer name.
Note on Penalties
Just a heads-up: the penalty for not having health insurance was eliminated starting in 2019.
Who Gets Form 1095-A?
If you signed up for healthcare through the Health Insurance Marketplace, you'll receive Form 1095-A, either by mail or online at Healthcare.gov.
What Do I Do With Form 1095-A?
If you're eligible for the premium tax credit, copy the info from Form 1095-A to Form 8962 and include that with your tax return. You don't send Form 1095-A itself to the IRS.
When Should I Receive Form 1095-A?
It should arrive by mid-January of the year after your coverage, via mail or your Healthcare.gov account. If not, or if there's an error, contact Healthcare.gov directly.
The Bottom Line
If your health insurance is through the exchange, the Marketplace will send you Form 1095-A by mid-January following the coverage year. It's your record of essential coverage details.
You won't submit it with your tax return, but if a premium tax credit applies, transfer the key info to Form 8962 and include that in your filing.
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