Confused about Form 1095-A? Don't worry, you're not alone! This form is crucial for anyone who had health insurance through the Health Insurance Marketplace (also known as the Exchange). Think of it as your health insurance tax receipt.
**What is it?** Form 1095-A, officially titled 'Health Insurance Marketplace Statement,' provides information about the health coverage you had, the premiums you paid, and any advance payments of the premium tax credit (APTC) you received during the year.
**Why is it important?** You need this form to accurately file your taxes and reconcile those advance payments of the premium tax credit. If you received APTC, comparing the amount you received with the actual credit you qualify for based on your income is essential to avoid surprises during tax season.
**What should you do with it?** Keep Form 1095-A with your other tax documents. Use the information on the form when you file your taxes to complete Form 8962, Premium Tax Credit. Contact the Marketplace directly if you believe any information on your 1095-A is incorrect. Understanding this form can save you time and headaches when filing your taxes. Good luck!
