If you enrolled in health coverage through the Health Insurance Marketplace in 2020, you should receive Form 1095-A, Health Insurance Marketplace Statement, in the mail or online in your HealthCare.gov account by early 2021. This form may also be called the “statement of health insurance coverage.” It provides important information about your health coverage and is used to reconcile the premium tax credit you took when you enrolled in coverage. You’ll need this form to report health coverage and file taxes. Here’s what you need to know about getting your 1095-A.
What is Form 1095-A?
Form 1095-A is the statement you receive from the Marketplace. It shows who was covered by a Marketplace plan, when the coverage started and ended, and how much you paid in premiums each month. It also includes information about the advance payments of the premium tax credit (APTC) that was paid directly to your insurance company to lower your monthly premiums. You’ll need this form to complete Form 8962, Premium Tax Credit, which you must file with your federal income tax return.
Where Can I Find My 1095-A?
If you enrolled in a Marketplace plan through HealthCare.gov, you should receive your 1095-A in the mail or in your HealthCare.gov account by early 2021. If you received APTC, you’ll get your 1095-A before you file your 2020 federal tax return. You can also view and print your 1095-A from your HealthCare.gov account. If you enrolled in a Marketplace plan through your state-based Marketplace, you’ll get your 1095-A from your state-based Marketplace. If you enrolled in a plan directly from an insurance company, you’ll get your 1095-A from the insurance company.
How Do I Use My 1095-A to File My Taxes?
You’ll use the information on your 1095-A to complete the Premium Tax Credit (PTC) section of your 2020 federal tax return. You’ll need to double-check that the information on Form 1095-A is accurate. If you don’t have your 1095-A, you can still complete your taxes. Your 1095-A will include:
- The amount of advance payments of the premium tax credit (APTC) made on your behalf
- Your share of the premium for each month of coverage
- The name of the insurance company that issued your coverage
- The name and taxpayer identification number (TIN) of each enrollee
You’ll use this information to complete Form 8962, Premium Tax Credit, which you must file with your federal income tax return. You’ll enter the amount of the premium tax credit (PTC) you’re entitled to on your tax return. You may be able to claim the full amount of the PTC or a portion of the PTC. You must reconcile the PTC with the APTC paid to your insurance company.
What if I Don’t Receive My 1095-A?
If you don’t get your 1095-A, you should contact the Marketplace to ask for it. You can also contact your insurance company if you enrolled in a plan outside the Marketplace. You can still complete your tax return without it, but you’ll need to estimate your household income, the number of months you had coverage, and the amount of APTC you received. If you’re not able to get a 1095-A, you can use Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, to complete your tax return. You’ll also need to complete Form 8962.
What if My 1095-A Is Wrong?
If you find a mistake on your 1095-A, you should contact the Marketplace or your insurance company. They should be able to provide you with a corrected form. You may also be able to make changes to your tax return after you’ve already filed. You may be able to get a refund or pay back any overpayment of the PTC.
Do I Need to Submit My 1095-A When I File My Taxes?
No. You don’t need to submit your 1095-A when you file your taxes, but you should keep it for your records. You’ll need to include the information from your 1095-A on Form 8962, which you must submit with your tax return.
Conclusion
Form 1095-A is an important form if you enrolled in health coverage through the Health Insurance Marketplace. It provides you with important information about your health coverage and is used to reconcile the premium tax credit you took. You should receive your 1095-A in the mail or online in your HealthCare.gov account by early 2021. Make sure to double-check the information on your 1095-A before filing your taxes. If you have any questions, contact the Marketplace or your insurance company.