It is tax season! Depending on your health plan, and your home state, that may mean collecting important forms regarding your or your family’s health insurance coverage.
If you received health insurance through the federal marketplace, you must collect form 1095-A. This is an important form that details all the coverage and premium information for your plan.
Also, if you live in a state that requires health insurance, you will need to collect one of the below forms or one specific to your state before completing your state tax form.
READ MORE: About which states require health insurance.
There are three different healthcare forms that you should be aware of. They are:
- Form 1095-A: Health Insurance Marketplace Statement. This form is sent by the Marketplace to individuals who enrolled in coverage there. It provides information about the coverage, who was covered, and when.
- Form 1095-B: Health Coverage. This form is sent by health insurance providers (e.g. health insurance companies) to the individuals they cover. It provides information about who was covered and when.
- Form 1095-C: Employer-Provided Health Insurance Offer and Coverage. Certain employers send this form to certain employees. It provides information about what coverage the employer offers. Employers that offer healthcare coverage are required to send this form to their employees.
What is a 1095-A Form?
A 1095-A is a tax form for those enrolled in health insurance through the marketplace. It includes premiums paid, premium tax credits used, and a figure called “second lowest cost Silver plan.” You will use it to fill out tax Form 8962 and reconcile the premium tax credit you used with the amount you qualify for.
When will I receive this form?
If you or someone in your household had a marketplace health insurance plan in 2023, the Marketplace will send you a statement called form 1095-A. You will receive this form by mail no later than mid-February. However, it could be available in your marketplace account earlier than that. It is essential to note that the Marketplace, not the IRS, will send you this form.
What if I do not get my 1095-A Form?
If you have not received your 1095-A Form by the end of January or mid-February, you can check your online account to access it. If you are still unable to locate it or if you require help accessing it online, please contact your state’s marketplace.
What do you do with a 1095-A Form?
This information is intended for employees who need to complete form 8962, which is used to claim the Premium Tax Credit. Consumers who received premium assistance through advance credit payments made to their insurance provider are required to file Form 8962 with their tax returns, regardless of whether they are otherwise required to file a tax return.
Why would I get more than one 1095-A Form?
It is possible to receive multiple 1095-A forms if you had coverage from more than one provider or if you worked for multiple employers who offered coverage. You may also receive more than one form if you changed coverage or employers during the year or if different family members received coverage from different providers.
How to find your 1095-A online
- Log in to your account.
- Under “Your Existing Applications,” select your 2023 application — not your 2024 application.
- Select “Tax Forms.”
- Download all 1095-As.
- Note: If you cannot find your 1095-A in your Marketplace account, contact the Marketplace Call Center.
Check that our 1095- A form is correct.
- Read the instructions on the back.
- Make sure it is correct. If anything about your coverage or household is wrong, contact the Marketplace Call Center.
- Make sure the information about the “second lowest cost Silver Plan” (SLCSP) is correct.
What if my form 1095-A is incorrect
To get a corrected Form 1095-A, contact the Marketplace where you received coverage. Review the instructions carefully and ensure accuracy. For discrepancies, contact the Marketplace call center. Correct SLCSP information is crucial. If you receive a corrected/voided Form 1095-A, amend your return.
What is the Second lowest-cost Silver Plan? (SLCSP)
It is important to determine the second-lowest priced Marketplace health insurance plan in the silver category that applies to you. This could be a plan that you are already enrolled in. Knowing your second-lowest-cost silver plan (SLCSP) premium is crucial to calculating your final premium tax credit. You can find your SLSCP premium on Form 1095-A.
How to know if your second lowest cost Silver Plan information is correct.
To ensure the accuracy of your information, please review Part III, column B of your 1095-A form. This column displays the figures for each month that any household member had a marketplace plan. Specifically, check the “Monthly second lowest cost silver plan (SLCSP)” section.
It is important to note that the SLCSP premium may be incorrect if any of the following apply:
- Column B in Part III displays a “0” or is left blank for any month when someone in your household had a marketplace plan.
- You experienced changes in your household that you did not report to the Marketplace. Examples of such changes include having a baby, moving, getting married or divorced, or losing a dependent.
Please take the time to review this information carefully to ensure it’s accurate and up to date.
What is a Premium Tax Credit?
These are funds to help with the cost of health coverage. Eligible individuals can claim a tax credit called the premium tax credit. If you had coverage through health insurance marketplaces, you would receive Form 1095-A with all the info you need to claim the credit.
Use the knowledge from your 1095-A to “reconcile.”
Once you have an accurate 1095-A and your SLCSP premium, you can easily fill out Form 8962 and reconcile your premium tax credit.
