Health insurance and your taxes

Date:

Share post:


Published on February 22, 2024

If you had Marketplace coverage at any point in 2023 and got the , here’s what you need to know about filing your federal taxes. 

Keep your Form 1095-A in a safe place 

This form has important information about the Marketplace plans your household had in 2023. 

Check that your Form 1095-A is correct 

  • Make sure your household and coverage information, the “second lowest cost Silver Plan” amount, and the monthly premium are correct. 
  • If you find a mistake, contact the Marketplace Call Center. 

“Reconcile” with your Form 1095-A 

If you qualified for or used the premium tax credit to lower your Marketplace plan premium: 

  • Use the information from your Form 1095-A to complete Part II of Form 8962 (PDF, 110 KB). 
  • If there’s a difference between the amount of the premium tax credit you used during the year and the amount you actually qualify for, it will impact your refund or the amount of taxes you owe. 
  • You’ll include Form 8962 with your federal tax return. Get details on how to reconcile.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Rate Cut Could Bring Relief to Borrowers

The interest rate reduction could mean lower monthly payments or refinancing higher-interest debt for borrowers.

4 Common Mistakes That Will Spell Doom Your Ecommerce Business

Opinions expressed by Entrepreneur contributors are their own. ...

Find The Best SEO Certificate To Suit Your Needs in 2024

Choosing the best SEO certificate can boost your digital marketing career. Certification validates your expertise and opens...