When Congress passed the Affordable Care Act (ACA) in 2010, health insurance coverage was mandated for all Americans. As a result, state-based American Health Benefit Exchanges were established for Americans to purchase subsidized health insurance plans. The ACA also included an individual mandate, which fined taxpayers who failed to purchase insurance. Form 1095-A was introduced so taxpayers could provide proof of coverage and claim tax credits. Congress repealed the individual mandate (effective 2019), but marketplace providers still furnish insured individuals with Form 1095-A.
Who Uses Form 1095-A?
Form 1095-A: Health Insurance Marketplace Statement is used by individuals who purchase their health insurance through a health insurance marketplace. The form is used to report health insurance coverage to the IRS during tax season, but the form should not be returned to the IRS.
Where To Get Form 1095-A
You will receive your Form 1095-A through the mail from the marketplace. It is sent to all individuals who purchased insurance through a health insurance marketplace. The form should arrive no later than mid-February, in time to use it to do your taxes by the annual tax-filing deadline, which is usually April 15.
What To Do If You Don’t Receive Form 1095-A
If you didn’t get your Form 1095 in the mail or would prefer to have an electronic version, you can access it online by logging into your HealthCare.gov account. Then, follow these steps:
Select your application for the filing year under “Your Existing Applications.”Select “Tax Forms” on the left side menu.Download all the 1095 forms.
If you used a state-based marketplace to purchase your insurance, you may be able to get a copy of Form 1095-A from your state-based marketplace account.
How To Read 1095-A
Form 1095-A contains information about qualified marketplace plans used by any member of your household. This information includes dates of coverage, the amount of premiums paid, premium tax credits used, and a figure called the Second Lowest Cost Silver Plan (SLCSP). The SLCSP refers to the second-lowest-priced applicable marketplace health insurance plan in the Silver category. Even though you may not have enrolled in this plan, you still need to know your SLCSP premium to figure out your final premium tax credit. Form 1095-A is used to fill out Form 8962, Premium Tax Credit, which is submitted to the IRS along with your personal tax return. Form 8962 reconciles the difference between the premium tax credit you used and the amount you qualify for.
You Don’t Need To File Form 1095-A
While Form 1095-A is used to complete Form 8962, you do not need to file Form 1095-A with the IRS (by mail or otherwise). The form should be kept for your personal records.
