As you prepare your taxes for 2016, this link form Get Covered IL. may be helpful. Be sure to contact your tax professional with any questions you may have regarding your specific situation.

February 14, 2017

Form 1095-A is an IRS form for individuals who enrolled in a Qualified Health Plan (QHP) through the Health Insurance Marketplace. It is sent to individuals who had Marketplace coverage to allow them to: Claim Premium Tax Credits. Reconcile the Credit on their returns with Advanced Premium Tax Credit Payments. The 1095-A form is mailed by the Marketplace and should be received by mid-February.

What information is on Form 1095-A?
Your 1095-A contains information about Marketplace plans that each member of your household had in 2016, including:

  • Premiums paid
  • Premium tax credits used
  • A figure called the second lowest cost silver plan (SLCSP).

You will use this information to fill out Form 8962, Premium Tax Credit (PTC) which will be attached to your 1040, 1040A, or 1040NR. (you cannot file a 1040EZ with form 1095-A). This is how you “reconcile” .

What does it mean to reconcile?
If you had a Marketplace plan and used advanced payments of the premium tax credit to lower your monthly payment, you’ll have to “reconcile” when you file your federal taxes. This means you’ll compare 2 figures:

  • The amount of premium tax credit you used in advance during the year. (This was paid directly to your health plan so your monthly payment was lower.)
  • The premium tax credit you actually qualify for based on your final income for the year.

Any difference between the two figures will affect your refund or tax owed. Even if your income is below the tax filing threshold, you must file to continue receiving premium tax credits. Failure to reconcile will affect your ability to receive premium tax credits in the future.

Log in to your Marketplace account to print your 1095-A form
You can also find the 1095-A form in your HealthCare.gov account by logging in, selecting your 2016 application and choosing “Tax Forms”.

Review the form for  accuracy. If anything about your coverage or household is wrong, call the Marketplace.

NOTE: You will receive a different 1095-A form for each plan that you purchased on the Marketplace. If you made changes during the plan year; you will need forms for each plan that was selected.

Visit HealthCare.gov or call 800-318-2596 for questions or corrections.