Our Healthcare System
Health Care Tax Tools
Form 8962, Premium Tax Credit
If you had Marketplace insurance and used premium tax credits to lower your monthly payment, you must file this health insurance tax form with your federal income tax return. You’ll use this form to “reconcile” – to find out if you used more or less premium tax credit than you qualify for. (Premium tax credits are sometimes known as “subsidies,” “discounts,” or “savings.”)
Form 1095-A, Health Insurance Marketplace Statement
This form includes details about the Marketplace insurance you and household members had in 2015. You’ll need it to complete Form 8962, Premium Tax Credit.
- Get a quick overview of health care tax Form 1095-A — when you’ll get it, what to do if you don’t, how to know if it’s right, and how to use it.
- See a SAMPLE 1095-A. This is just a preview — don’t fill it out.
Health coverage tax tool
You’ll need to use this tool only if one of these applies:
- The information on your health care tax Form 1095-A about your “second lowest cost Silver plan” (SLCSP) is missing or incorrect. See how to find out if this applies to you.
- You want to claim an “affordability exemption” — meaning 2015 coverage was unaffordable to you. If you qualify for this exemption, you don’t have to pay the fee for not being covered in 2015.
Go to the Health coverage tax tool.
Health coverage exemptions
Most people must have health coverage or pay a fee. In some cases, like if you couldn’t afford insurance or had certain life circumstances, you may be able to claim an exemption from the requirement. If you qualify for an exemption, you don’t have to pay the penalty.
- See all health coverage exemptions.
- Answer a few questions to see if you may qualify for any exemptions.
- See the types of plans that qualify you as “covered” under the health care law.
You can claim some exemptions on your federal income tax return. For others you must complete Form 8965, Health Coverage Exemptions.
The penalty for not having health coverage
Most people must have health coverage or pay a penalty (also known as the “fee,” “fine,” or “individual mandate”).
- Learn about the health care penalty for 2015 — $325 per adult or 2% of household income, whichever is higher.
- See the health coverage that qualifies you as “covered” under the health care law.
Get help filing your 2015 federal tax return
A more detailed description of the company, its management and practices are contained in its Firm Brochure (Form ADV, Part 2A).
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