If you received more than one Form 1095-A – from the same market – declaring coverage for different months, enter the information for that month on Form 8962. If you received more than one Form 1095-A reporting coverage for the same month, please refer to the instructions on Form 8962 PDF for more information. You will need to file a tax return showing the amounts of premium advances from this form (even if you do not need to file a tax return). When you prepare your return, add the prepayment amounts to your Form 1095-A, and then we prepare Form 8962 for electronic filing with your return. Failure to submit your return will result in a delay in your refund and could affect your future upfront payments. On eFile.com, it`s easy to properly report your prepayment amounts on your tax return and eFileIT. We perform the calculations and generate the necessary forms to declare your insurance for the premium tax credit. You do not need to attach Form 1095-A to your tax return, so you can keep it with your tax records after using the information on the form to prepare and file your eFile.com tax return. You use this information to complete your tax return, adjust tax credit payments, and claim premium tax credits that are due or must be refunded if too much premium tax credit is received during the year. You will receive a Form 1095-A for each private health insurance plan in which you or your household members were enrolled during the taxation year.
You may receive multiple forms for one or more of the following reasons: You should receive Market Form 1095-A before the end of January of the tax year. If you do not receive your 1095-A by then, visit the Marketplace`s website (healthcare.gov) to find out how to request a copy of your online form from the Marketplace. The IRS will not issue or provide you with a copy of your 1095-A. There is no longer a federal mandate to have health insurance, but if you have received a Form 1095-A that reports your health insurance for the year, you will need to add Form 1095-A to your account and file the information with your 2021 tax return: Prepare your 2021 tax return here on eFile.com and file it electronically. Insurance companies in health exchanges provide you with Form 1095-A. This form contains: Get a copy of your 1095-a FREQUENTLY ASKED QUESTIONS A 1095-A, Health Insurance Market Declaration, is a form that you can obtain from the Health Insurance Market (or the Health Insurance Exchange) at Healthcare.gov if you and your family members have taken out health insurance through the Market for part or all of the year. On eFile.com, it`s easy to report your 1095-A information. The eFile tax app automatically selects the tax forms you need to complete to report your 1095-A information for the premium tax credit. If you purchased health insurance through one of the health care exchanges, also known as marketplaces, you should receive a Form 1095-A that includes information about your insurance policy, your premiums (the cost you pay for the insurance), any upfront premium tax credit payments, and the people covered by the policy in your household. You use the information on this form to report your initial payments to the premium tax credit on Form 8962. Payments are shown on your Form 1095-A.
When you prepare your tax return for eFile.com, the Tax app will help you report your payment information in the correct section based on your answers to several tax questions. You can get more than one Form 1095-A if not all members of your household were enrolled in the same health insurance plan, if you updated your family information throughout the year, if you switched plans during the year, or if you enrolled family members in different states. The Affordable Care Act, also known as Obamacare, requires most U.S. citizens to have health insurance, but it also offers a tax break, the Premium Tax Credit, to offset the cost of health insurance for those who qualify. If you purchased coverage through one of the health insurance markets, you should receive a copy of Form 1095-A, which contains the information needed to claim the tax credit. Forms 1095-B and 1095-C are not required on your 2021 tax return. You are no longer required to report your health insurance on your return unless you or a family member was enrolled in health insurance through the Marketplace, received a Form 1095-A, and advance premium tax credit payments were made to your insurance company to reduce your monthly premium payment. If you prepare your tax return on eFile.com, you can easily file your medical information with your tax return and file it electronically. When you start a free tax return on eFile.com, we automatically declare the required information about your health insurance and premium tax credit on the correct tax forms.
Whichever option you choose to claim the premium tax credit, apply by completing Form 8962 with your tax return. You will need your Form 1095-A to complete this form. You must follow the instructions on the correspondence you receive to help the IRS verify the information entered on the tax return and make the appropriate refund. For more information about letter 12c, see Understanding your letter 12C. Note: The following information does not apply to returns in 2020. While the Marketplace can help you resolve some issues with Form 1095-A, you may have other questions, particularly about how the form affects your taxes. On the following pages, you will find additional resources that can help you: If you have had certain changes in your family, or if you have moved and have not informed the Market of these changes, the premium for the applicable SLCSP listed on your Form 1095-A, Part III, Column B may not be accurate for one or more months. The applicable SLCSP premium on your Form 1095-A may also be incorrect if you have not claimed advance payments of the premium tax credit. If any of these situations apply to you, you must determine the correct premium for the applicable SLCSP for the affected months.
For more information on determining the correct premium for the applicable SLCSP, see Publication 974, Premium Tax Credit (TPC) or, if you registered through the Federal Market, the Health Coverage Tax Tool. As mentioned above, there is no longer an individual mandate and you will not pay a penalty if you did not have health insurance in 2021. If you received health insurance through the Health Insurance Market (also known as Exchange), your coverage will be reported on a 1095-A and you will need to file the information on this form with your 2021 tax return. The eFile.com tax app allows you to add information from your Form 1095-A during the 2021 tax return online interview. MNsure cannot give you tax advice or answer tax questions. .