The Marketplace sends copies to individuals to allow them to accurately file a tax return taking the PTC and reconciling APTC. The Marketplace uses Form 1095-A to report certain information to the IRS about individuals who enrolled in a qualified health plan through the Marketplace. You will need Form 1095-A to complete Form 8962. If APTC was paid on your behalf, or if APTC was not paid on your behalf but you wish to take the PTC, you must file Form 8962 and attach it to your tax return (Form 1040, 1040-SR, or 1040-NR).Īt enrollment, the Marketplace may have referred to APTC as your “subsidy” or “tax credit” or “advance payment.” The term “APTC” is used throughout these instructions to clearly distinguish APTC from the PTC.įorm 1095-A, Health Insurance Marketplace Statement. Form 1095-A shows the months of coverage purchased through the Marketplace and any APTC paid to your insurance company to help cover your monthly premium.
If you or a member of your family enrolled in health insurance coverage for 2022 through a Marketplace, you should have received Form 1095-A, Health Insurance Marketplace Statement, from the Marketplace. This includes a qualified health plan purchased on or through a State Marketplace. As a result, you should complete Form 8962 only for health insurance coverage in a qualified health plan purchased through a Marketplace. You may take the PTC (and APTC may be paid) only for health insurance coverage in a qualified health plan (defined later) purchased through a Health Insurance Marketplace (Marketplace, also known as an Exchange). Use Form 8962 to figure the amount of your premium tax credit (PTC) and reconcile it with advance payment of the premium tax credit (APTC). 974, Premium Tax Credit for information on determining QSEHRA affordability and Notice 2017-67 for additional guidance on QSEHRA coordination with the PTC. Also see Qualified Small Employer Health Reimbursement Arrangement in Pub. For more information, see Column (e) under Line 11-Annual Totals or Lines 12 Through 23-Monthly Calculation, later. If the QSEHRA is unaffordable for a month, you must reduce the monthly PTC (but not below -0-) by the monthly permitted benefit amount and you must enter “QSEHRA” in the top margin on page 1 of Form 8962 to explain your entry and avoid delay in the processing of your return. If the QSEHRA is affordable for a month, no PTC is allowed for the month. If you were covered under a QSEHRA, your employer should have reported the annual permitted benefit in box 12 of your Form W-2 with code FF. Under a QSEHRA, an eligible employer can reimburse eligible employees for medical expenses, including premiums for Marketplace health insurance. Qualified small employer health reimbursement arrangement (QSEHRA).
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