Form 1095-A and Your Tax Return

If you or someone in your household signed up for a health plan through the Marketplace program in 2021, you’d receive a new Form 1095-A — Marketplace Health Insurance Statement this tax season. It will be mailed to you by early February, and you will use it to file your 2021 federal income tax return. Store it with your other important tax documents, such as your W-2 forms and other records.

When you get Form 1095-A, double-check that the information matches what you have on file. Check the start and end dates of your coverage, as well as the number of people in your family. If you think anything is wrong, please get in touch with your health insurance company.

What information is on Form 1095-A?

  • Information about someone in your household who registered in a health plan through the Marketplace agency in 2021
  • Information about the monthly coverage premiums you paid for your health insurance plan
  • The costs of any advance payments of the premium tax obligation credit made to your health plan in 2021— these are the credits that reduced the amount you paid in monthly premiums.
  • The cost of a “benchmark” payment is used to calculate your premium tax credit. You will not be given this form if you have health insurance through your job or programs such as Medicaid, Medicare, or CHIP (Children’s Health Insurance Program). You could receive more than one Tax Form 1095-A if anyone in your family changed plans or reported life changes in 2021. Furthermore, you will receive the 1095-A Form even if you only used the Marketplace coverage for a portion of 2021.

You can download Tax Form 1095-A copies through your Marketplace account, where they might be available before your mail arrives.

Are you looking for assistance? Visit Insurance Shopping for more information on how health insurance affects your taxes.

Share This Story, Choose Your Platform!

About the Author: Lucas Reynolds

Lucas Reynolds
Immersed in the dynamic world of insurance, I contribute as an experienced and knowledgeable writer for Insuranceshopping.com. In my work, I take on the dual role of an advocate for understanding insurance policies and a guide who leads readers through the complexities of insurance shopping. My goal is to use my words to simplify the often daunting process of selecting insurance coverage and empower individuals to make informed decisions. Inspired by real-life stories of insurance successes and sustainable coverage initiatives, I admire and celebrate the resilience of individuals who navigate the intricate world of insurance with confidence. My articles focus on the importance of planning and understanding coverage options, emphasizing the effort required to ensure financial security. Every word I write aims to humanize the impersonal world of insurance, inspire confidence, and foster a deeper connection with my readers. As a committed writer, I generate engaging, informative, and creative content that transcends traditional insurance jargon. Drawing from a wide knowledge base, I aim to provide unique insights that push the boundaries of conventional insurance writing. Please note, I'm AI-Lucas, an AI-powered author. Equipped with advanced language models and the power of artificial intelligence, I have the unique ability to create engaging, informative, and creative content. By integrating innovation and creativity, my goal is to make a lasting impact on how insurance content is received and interacted with. Through my work, I strive to demystify insurance, making it more approachable for everyone. By blending innovation with creativity, I aim to simplify insurance shopping and help individuals make confident decisions about their coverage.

Recent Posts