1095-A Instructions 2023 - 2024

Form 1095-A, also known as the Health Insurance Marketplace Statement, is a tax form provided by the Health Insurance Marketplace to individuals who have enrolled in a Qualified Health Plan.

Health Insurance Marketplace Statement or better known as Form 1095-A is the form that summarizes the Marketplace premiums and other relevant information. 

At the time of writing, the open enrollment period has ended. You can still qualify for 2024 Health Insurance Marketplace coverage if you qualify for the special enrollment period. 

This tax form is used by the Marketplace to the individual(s) under coverage. The main purpose of Form 1095-A is to figure out the right amount of the premium tax credit and reconcile the advanced premium tax credit. As a taxpayer who has health coverage through the Health Insurance Marketplace, you will receive it. If you don’t qualify for the premium tax credit, you have much use of Form 1095-A. 

Instructions to Calculate Premium Tax Credit

The way you will calculate the premium tax credit is very simple. Generally, the premium tax credit is the same amount as the second lowest cost silver plan minus a percentage of your household income. This percentage varies by plan and income, therefore, you need to make plenty of calculations. 

As there is no direct method of calculation for the premium tax credit, it’s highly encouraged that you use a tax preparation service to adequately and accurately calculate how much you’re eligible to take under the premium tax credit.

Instructions to Reconcile Advanced Premium Tax Credit

Once you figure out the premium tax credit you’re eligible to take, subtract the total amount of advanced premium tax credit payments made. If the advanced payments are higher than the amount received during the tax year, it will add up to your tax liability

In cases where the advanced payments fall under the premium tax credit you’re eligible to take, you will get what you haven’t received.

We suggest calculating the premium tax credit once you get to your tax liability – before taking out any credits you can take – so that you can also figure out the refundable portion of the credit is completely refundable, meaning that it can add up to your tax refund

2024 vs. 2023 Form 1095-A

Feature2024 Form 1095-A2023 Form 1095-A
Reporting Year20242023
Tax Filing DeadlineApril 15, 2024April 15, 2023
Premium Amounts2024 data2023 data
Subsidies Information2024 data2023 data

When Do You Receive Form 1095-A?

You should receive Form 1095-A by 2023 for the previous tax year. The Health Insurance Marketplace sends this form to individuals who purchased insurance through the marketplace. It is essential to wait for this form before filing your taxes, as it contains critical information.

How to Read Form 1095-A

Part I

Recipient Information – Contains your personal information.

Part II

Premium Tax Credit (PTC) – Provides details about your tax credits.

Part III

Coverage Information – Lists information about your health insurance coverage.

Part IV

Covered Individuals – Lists the individuals covered by the insurance.

Comparing Form 1095-A with Other Tax Forms

To accurately complete your tax return, you may need to compare Form 1095-A with other tax forms, such as Form 1040 and Form 8962. Here’s a comparison table:

Form 1095-AReports health insurance coverage details.
Form 1040The standard tax return form.
Form 8962Used to reconcile premium tax credits.


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