Starting with 2014 tax filings, your tax preparer will request you to provide proof of insurance. Further, if you requested and received an advanced premium tax credit (APTC) to assist you with your monthly premium payments through your respective marketplace, you should have received a 1095A to show how much tax credit you received and since when your insurance was in effect.
If you received APTC and have not received a 1095A, you may need to request a duplicate. If you enrolled through your state’s marketplace, contact your state marketplace to request a duplicate. If you enrolled through the Federally Funded Marketplace (FFM), you may use your online account to obtain a duplicate or call them directly at 1-800-318-2596 to request.
The 1095A is a statement from the Marketplace showing when your insurance started, who was insured, amount of monthly premium, and monthly APTC.
Your tax preparer will utilize this information to confirm if you were given an accurate tax credit, if it was too high, or if it was too low.
If your 2014 income was less than originally anticipated when you submitted your application, you may have a refund for what you would have received and what you actually received.
If your 2014 income was more than originally anticipated when you submitted your application, you may to pay back part of the received tax credit.
If you are unsure if your tax preparer is calculating correctly, be sure to contact your Marketplace to confirm before your taxes are filed.
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