Marketplace Health Insurance and the Premium Tax Credit

Marketplace Health Insurance is Complicated and Anxiety Ridden for Taxpayers and Tax Pros!

What is Marketplace Insurance?

Insurance provided under the Affordable Care Act, sometimes known as ObamaCare.

The IRS has issued a Fact Sheet containing a lot of details, but it is out of date.

https://www.irs.gov/affordable-care-act/individuals-and-families/the-premium-tax-credit-the-basics

Another Source of Information is HealthCare.gov

If anyone in your household had a Marketplace plan in 2024, you should get Form 1095-A, Health Insurance Marketplace® Statement, by mail no later than mid-February. It may be available in your Marketplace account anytime from mid-January to February 1.

Notice:

You must have your Form 1095-A before you file. if you file without it, your return will be automatically rejected!

Don't file your taxes until you have an accurate 1095-A. If anything about your coverage or household is wrong, contact the Marketplace Call Center.

• Your 1095-A includes information about Marketplace plans anyone in your household had in 2024.

• It comes from the Marketplace, not the IRS.

• Keep your 1095-A forms with your important tax information, like W-2 forms and other records.

How to find your 1095-A online

1. Log into your Marketplace account.

2. Under "Your applications," select your 2024 application — not your 2025 application.

3. Select “Tax Forms."

4. Download all 1095-As.

Get screen-by-screen directions, with pictures (PDF, 499 KB).

Note: If you can't find your 1095-A in your Marketplace account, contact the Marketplace Call Center.

What’s on Form 1095-A and why you need it

• Your 1095-A has information about Marketplace plans any member of your household had in 2024, including:

  • Premiums paid

  • Premium tax credits used

  • A figure called

    “second lowest cost Silver plan” (SLCSP)

• You’ll use information from your 1095-A to fill out tax Form 8962, Premium Tax Credit (PDF, 115 KB). This is how you'll "reconcile" — find out if there's any difference between the premium tax credit you used and the amount you qualify for.

• Find instructions for Form 8962 (PDF, 348 KB).

• If you had Marketplace coverage but didn't use the premium tax credit.

• Learn more about Form 1095-A from the IRS.

Check that your 1095-A is correct

• Carefully read the instructions on the back.

• Make sure it’s correct. If anything about your coverage or household is wrong, contact the Marketplace Call Center.