🥃What Is Form 1095-A: Health🌄 Insurance Marketplace Statement?

Every year, the Health Insurance Marketplace sends Form 1095-A to Americans who have health insurance coverage through a carrier on the exchange.

The form serves as a record of healthcare coverage. It includes information such as the effective date of the coverage, the monthly premiums, and any advance payments of the premium 澳洲幸运5官方开奖结果体彩网:tax credit.

You use information from Form 1095-A for your tax return. However, you don't submit Form 1095-A to the 澳洲幸运5官方开奖结果体彩网:Internal Revenue Service (IRS).

Who Receives Form 1095-A?

You will receive Form 1095-A if you enrolled in a qualified health plan via the federal Health Insurance Marketplace or a state's exchange. The exchanges use the form to provide participants with information about their coverage.

You do not have to submit Form 1095-A to the IRS. However, on your tax return, you do have to provide information from the form and/or acknowledge that you've received it.

If you're eligible for a premium tax credit, you may have to attach a related form, Form 8962: Premium Tax Credit.

You should keep Form 1095-A for your records.

How to Use Form 1095-A

When preparing your tax return, you or your tax preparer will use 1095-A to fill out 🌳Form 8962: Premium Tax Credit if you are eligible to receive the credit.

According to the IRS, if you are expecting to receive a Form 1095-A, you should wait to file your income tax return until you receive it. Because it deals with claiming or reporting tax credits, which in turn affects the amount of income tax you owe or any refunds you are due, 1095-A is crucial in the filing process.

Taxpayers should receive a Form 1095-A by mid-January of the year following the coverage year, either by mail or in their Healthcare.gov accounts. Individuals who don't receive their forms or see inaccuracies in them can contact HealthCare.gov directly.

The form lists each month for which you received coverage and the amount you paid in premiums. It also contains personal information including your name, address, and 澳洲幸运5官方开奖结果体彩网:Social Security number. Yo♋ur polic♑y number and insurance company name also appear on the form.

The complete 1095-A is available .

The Bottom Line

If you have healthcare through the exchange, the Health Insurance Marketplace should send you Form 1095-A by mid-January of the year following your coverage year. It is a record of k🅷ey information about your heal𝔍th insurance coverage.

You don't need to send form 1095-A as part of your tax return. However, if you are eligible for a premium tax credit, you need to copy the relevant information to Form 8962 and include it with your tax return.