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

Direct Debit Installment Agreement (DDIA)

Learn about IRS direct debit installment agreements (DDIA), which can get you a lower user fee. Get the facts from the tax experts at H&R Block.

6 Ways to Maximize Your Refund

Think it's too late to make a difference on this year's tax return? Think again! Learn how to maximize tax deductions and increase your refund with H&R Block.

PATH Act 2018: Impact On Your Taxes

Get the latest updates on the Protecting Americans from Tax Hikes Act. Learn how the PATH Act may affect your tax refund this year.

IRS Notice CP90C – Notice of Seizure and Your Right to a Hearing

Learn more about notice CP90C, why you received it, and how to handle an IRS seizure notice with help from the tax experts at H&R Block.

H&R Block

H&R Block