If you had a Marketplace plan in 2014 and used advance payments of the premium tax credit to lower your monthly premiums, you must file a federal income tax return. If you haven’t filed yet, you should do it as soon as possible.
If you haven't filed a 2014 tax return, you may get a letter from the IRS. Learn about the actions you must take.
If you or anyone in your household enrolled in a health plan through the Health Insurance Marketplace in 2014, you should’ve received Form 1095-A — Health Insurance Marketplace Statement. It came from the Marketplace, not the IRS.
- Keep Form 1095-A with other important tax information, like your W-2 forms and other tax records.
- You’ll use information from the form to fill out your 2014 federal income tax return
- Find your Form 1095-A
- Log in to Marketplace account
- Select your 2014 application (be sure you’re not choosing your 2015 coverage application)
- Select “Tax forms” from the menu on the left
- View or download each Form 1095-A
- All 1095-As are also available with your Marketplace messages
- If you can’t find your 1095-A online, contact the Marketplace Call Center
- Are there errors on your Form 1095-A?
- If you didn’t get a Form 1095-A
What’s on Form 1095-A
- Information about anyone in your family who enrolled in a health plan through the Health Insurance Marketplace for 2014
- Information about the monthly premiums you paid to your health plan
- The amount of any advance payments of the premium tax credit that were paid to your health plan in 2014. This is the financial assistance that lowered what you paid for your monthly premiums.
- The premium for the second lowest cost Silver plan (SLCSP) that applied to you for 2014. This amount is used as a “benchmark” to set your premium tax credit.
Note: In some cases, the information on your Form 1095-A doesn’t include any information about the second lowest cost Silver plan (SLCSP), or the information isn’t updated based on your latest 2014 circumstances. If so, you may need to use a tool to get information about your second lowest cost Silver plan for 2014. Learn more about using the SLCSP tool.
Form 8962 and your 2014 premium tax credit
When you applied for health coverage through the Health Insurance Marketplace, you provided an estimate of your 2014 income and other information. The Marketplace used this information to determine a premium tax credit you were eligible for.
- You probably used "advance payments" of this premium tax credit to lower what you paid for monthly premiums.
- When you file your federal income tax return, you’ll find out the final premium tax credit you’re eligible for based on your actual 2014 income.
- Your final premium tax credit may turn out to be different from the one the Marketplace calculated based on the information you put on your application.
You’ll use a new tax form, Form 8962 — Premium Tax Credit, to compare the amount of tax credit you took in advance during the year to your final premium tax credit. (This is called “reconciling.”) Your tax software or preparer can help you with this form too.
- Comparing the premium tax credit you took in advance to your final tax credit
- If you TOOK LESS advance payments of the premium tax credit than the actual credit you’re eligible for: You’ll get the difference as a credit on your tax return.
- If you TOOK MORE advance payments of the premium tax credit than the actual credit you’re eligible for: You may need to pay the difference with your tax return.
- If you DIDN’T TAKE ANY advance payments of the premium tax credit during 2014: When you complete Form 8962 you may find out that you qualify for a credit. If you do, you can claim it when you file your taxes.
More answers: Marketplace Insurance and Taxes
- Why did I get more than one 1095-A?
There are a few possible reasons:
- Different members of your household had different health plans
- You updated your coverage information during 2014
- You switched plans during 2014
Be sure to keep all 1095-As you get and keep them with your important tax documents. Read the instructions on the back of the form for more information.
- Why does my Form 1095-A say “CORRECTED”?
If the “CORRECTED” box on the top of your Form 1095-A is checked, we’ve made a change to the information we originally provided. The corrected form is available in your Marketplace account on HealthCare.gov.
- Be sure to use this corrected form when you complete Form 8962 and file your federal income tax return.
- What if I usually don’t file a tax return?
You must file a 2014 federal income tax return if either of the following is true for you or any member of your household for 2014:
- You want to claim the premium tax credit
- You took advance payments of the premium tax credit to lower your monthly premiums
When you file your tax return, you must complete and file Form 8962 — Premium Tax Credit (PDF) (see 8962 instructions (PDF)) with your return. You’ll use the information on Form 1095-A from the Marketplace to complete IRS Form 8962.