Did You Purchase Health Care Insurance During 2014?

Larry Villano, Publisher of Loopholelewy.com

If you purchased health care insurance through the Marketplace for 2014, you should receive a Form 1095-A by the end of January, 2015.

Form 1095-A contains information that will help you complete your 2014 federal individual income tax return. For example, it will show the total monthly health insurance premiums paid to the insurance company you selected through the Marketplace. It will also list the amount of premium assistance you received in the form of advance payments of the premium tax credit that were paid directly to your insurance company.

If you chose to have advance payments of the premium tax credit paid directly to your insurance company in 2014, you must file a 2014 federal income tax return. You are required to reconcile – or compare - these payments to the premium tax credit you’ll compute for your 2014 tax return.

Note that, even if you did not choose to receive advance payments, you must file a 2014 federal income tax return to claim the premium tax credit.

Questions About Information on Form 1095-A

If you have a question about the information shown on your Form 1095-A for 2014, or about receiving Form 1095-A for 2014, contact your Marketplace. You can find Marketplace Contact Information for 2014 Health Coverage in the table shown on the IRS website (scroll down the page to see the table for federal and state marketplaces).

The IRS will not be able to answer questions about the information on your Form 1095-A or about missing or lost forms.