What You Need to Know About Form 1095-A

January 01, 2015 : H&R Block

If you enrolled in coverage through the Health Insurance Marketplace last year, you’ll need a brand new form to file your taxes this year. It’s Form 1095-A, and it should by mailed to you by January 31, 2015. If you do not receive this form, you should contact the Marketplace from which you got your health insurance to obtain a copy.

So what’s the big deal about this little piece of paper? Well, there’s an ACA tax term you may not be familiar with – reconciliation. This is just a fancy term for making sure that one set of numbers equals another, but it’s an important process. If you received the Advance Premium Tax Credit last year to help pay for your health insurance, you’ll need reconcile that credit using Form 1095-A.

Here’s why: when you applied for your tax credit, you had to estimate your income for the upcoming year, but sometimes life doesn’t play out exactly how you plan. Maybe you got a nice little raise this year. Maybe you made less than expected. Or maybe your household situation changed. These factors can result in you having to repay some or all of your tax credit, or you could receive more money back.

To get help reconciling your Advance Premium Tax Credit, make an appointment with one of our ACA Specialists. And, remember to bring your Form 1095-A.

Related Topics

Related Resources

I have a question about 1099-A reporting. If my home was foreclosed and I received a Form 1099-A, what do I do?

What do you need to do if you receive a 1099-a form? Learn more from the tax experts at H&R Block

If I’ve already filed my return for this year, can I amend my tax return to add dependents to my 1040-X? Can I also add

Can you amend your tax return to add dependents if you already filled your return? Get tax answers from H&R Block.

I have a question regarding 1099-Q reporting. My son received a Form 1099-Q. Does he have to report his earnings from th

Should you or your child report earnings on Form 1099-Q? Learn more from the tax experts at H&R Block.

Your 2017 Tax Document Checklist

Here's a list of tax documents you'll need to file this year's return. Get ready to file your taxes with H&R Block.

H&R Block

H&R Block