How do I read a 1095-A form?

Asked by: Sonya Heller II  |  Last update: July 6, 2025
Score: 4.2/5 (40 votes)

The Form 1095-A will tell you the dates of coverage, total amount of the monthly premiums for your insurance plan, the second lowest cost silver plan premium that you may use to determine the amount of your premium tax credit, and amounts of advance payments of the premium tax credit.

Will I have to pay back my premium tax credit?

If at the end of the year you've taken more premium tax credit in advance than you're due based on your final income, you'll have to pay back the excess when you file your federal tax return. If you've taken less than you qualify for, you'll get the difference back.

What does column A represent on the 1095-A form?

Column A: Add the premiums together. Column B: If everyone in the coverage family enrolled in the same state, the SLCSP should be the same on all Forms 1095-A for a given month. Enter that amount. If the enrollees are in different states, add the SLCSPs.

What does marketplace identifier mean?

Each Marketplace application has a unique identification number, or Application ID. After you apply for Marketplace coverage, you'll get a notice with your eligibility results that contains your Application ID.

How does marketplace insurance affect my taxes?

A tax credit you can use to lower your monthly insurance payment (called your “premium”) when you enroll in a plan through the Health Insurance Marketplace®. Your tax credit is based on the income estimate and household information you put on your Marketplace application.

What Is Form 1095-A and How Does It Impact Your Taxes?

22 related questions found

Do I have to report 1095-A on my tax return?

You do not have to send your Form 1095-A to the IRS with your tax return when you file and claim the premium tax credit. However, using the information on your Form 1095-A you must complete and file Form 8962, Premium Tax Credit.

Is it worth claiming medical expenses on taxes?

The medical expense deduction covers a wide variety of expenses. However, because of the high Standard Deduction and the 7.5% of AGI threshold requirement, it can be difficult to benefit unless you have a lot of out-of-pocket costs.

How to read 1095-A?

  1. Part I: “Recipient Information.” The first part of the Form displays your personal information, such as your name, address and Social Security number. ...
  2. Part II, “Covered Individuals,” reports the information of anyone else in your household who was enrolled in a QHP in this last year.

Where to enter 1095a on TurboTax?

Where do I enter my 1095-A?
  1. Open or continue your return.
  2. Navigate to the 1095-A section: TurboTax Online/Mobile: Go to 1095-A. TurboTax Desktop: Search for 1095-a, then select the Jump to link.
  3. Answer Yes and enter your 1095-A info on the next screen. We don't need all the info from your 1095-A.

What is hidden info on Marketplace?

Hidden information on Facebook Marketplace means that some details in a listing are not shown right away. Facebook does this to protect users from scams and fraud. By keeping some information hidden, it makes it harder for scammers to trick people.

Why does my 1095-A have zeros on it?

Keep in mind that sometimes an IRS Form 1095-A might look incorrect but not have a mistake. For example, if you didn't pay your monthly premium and your health or dental plan ended, then a "0" will appear for each month you did not pay.

What does a 1095 show?

Form 1095-C will indicate your name and the name of your employer, the months when you were eligible for coverage, and the cost to you of the cheapest monthly premium you could have enrolled in under your employer's health plan.

What to do if your 1095-A is wrong?

You should contact the Marketplace to notify them of the mistake and request a corrected Form 1095-A. Information on the form is also reported to the IRS, so it is important that you get a corrected form before you file your income tax return.

What disqualifies you from the premium tax credit?

For tax years other than 2021 and 2022, if your household income on your tax return is more than 400 percent of the federal poverty line for your family size, you are not allowed a premium tax credit and will have to repay all of the advance credit payments made on behalf of you and your tax family members.

What happens if I overestimate my income for marketplace insurance?

If you overestimate your income and end up claiming less help than you are entitled to, the difference will be refunded to you when you file your income taxes the following year.

How does Form 1095-A affect my taxes?

If you receive a Form 1095-A, Health Insurance Marketplace Statement, showing that advance payments of the premium tax credit were paid for coverage for you or your family member, you must file an individual income tax return and submit a Form 8962 to reconcile those advance payments, even if you would not otherwise be ...

Can I stay on my parents' marketplace insurance if I file taxes independently?

You can be covered on your parent's Marketplace plan up to the end of the plan year that follows your 26th birthday. If your parents don't claim you as a tax dependent (and you file your own taxes), then your eligibility for premium tax credits will be based on your income alone.

What is a reject code f8962070?

E-file reject F8962-070 happens when your return is missing Form 1095-A Health Insurance Marketplace Statement. First, find your 1095-A form. If you don't have it, download it from HealthCare.gov or your state's Marketplace.

Are tips considered earned income?

Tips that are part of a taxpayer's gross income are considered earned income. Earned income is important for calculating the earned income tax credit (EITC) and the refundable portion of the child tax credit, known as the additional child tax credit (ACTC).

What's the difference between a 1095 and a 1095-A?

The main difference is who sends the form to you. The entity that provides you with health insurance will be responsible for sending a Form 1095. Form 1095-A: If you were covered by a plan through a federal or state marketplace (also called an exchange), you will receive this form from the marketplace.

What does 10/99 mean?

Form 1099 is used to report certain types of non-employment income to the IRS such as dividends from a stock or pay you received as an independent contractor. Businesses must issue 1099s to any payee other than a corporation who receives at least $600 in non-employment income during the year.

How much do you get back in taxes for medical expenses?

The deduction value for medical expenses varies because the amount changes based on your income. The IRS allows all taxpayers to deduct their total qualified unreimbursed medical care expenses that exceed 7.5% of their adjusted gross income if the taxpayer uses IRS Schedule A to itemize their deductions.

What cannot be claimed as a medical expense?

Medical care expenses must be primarily to alleviate or prevent a physical or mental disability or illness. They don't include expenses that are merely beneficial to general health, such as vitamins or a vacation.

What proof do I need to deduct medical expenses?

You should also keep a statement or itemized invoice showing:
  • What medical care was received.
  • Who received the care.
  • The nature and purpose of any medical expenses.
  • The amount of the other medical expenses.