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

What You Need To Know About Form 1095-A in Less Than 4 Minutes

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A Form 1095-A: Health Insurance Marketplace Statement is a form you receive from a health insurance marketplace in time to file taxes.

Form 1095-A does not need to be returned to the IRS. It’s used to report health coverage on individual tax returns. In this article, we’ll cover the function of Form 1095-A, how the form is structured, what to do if you haven’t received it, and how the form is used.

Definition and Examples of Form 1095-A

Form 1095-A: Health Insurance Marketplace Statement is provided to taxpayers who purchased health insurance through a health insurance marketplace. It’s used to report health insurance coverage to the IRS.

Form 1095-A should not be returned to the IRS along with tax returns, but you should keep it for your personal records after you use it for filing your taxes.

What Is the Function of Form 1095-A?

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 to claim tax credits. Congress repealed the individual mandate in 2019, but marketplace providers still furnish insured individuals with Form 1095-A.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.

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:

  • 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.

If you have insurance through the federal Marketplace and have not received Form 1095-A by mid-February, call 1-800-318-2596 (TTY: 1-855-889-4325). You can’t send email requests. Wait until you have received the form before filing taxes.

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.

Where To Mail Form 1095-A

While Form 1095-A is used to complete Form 8962, you do not need to file (by mail or otherwise) Form 1095-A with the IRS. The form should be kept for your personal records.

Key Takeaways

  • If you purchase health insurance through a health insurance marketplace carrier, you’ll receive a Form 1095-A: Health Insurance Marketplace Statement from the marketplace in time to file taxes.
  • Form 1095-A contains dates of coverage, the amount of premiums paid, premium tax credits used, and a figure called the Second Lowest Cost Silver Plan (SLCSP).
  • Form 1095-A should not be returned to the IRS along with tax returns, but should be retained as a personal record.
  • If you have not received Form 1095-A by mid-February, contact the marketplace where you purchased health insurance.
  • 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.