If you have purchased a health plan through the Marketplace, you should have received Form 1095-A: Health Insurance Marketplace Statement, which is used to claim the Premium Tax Credit or reconcile advance payments. But if you’ve received a second Form 1095-A, it’s because the information on the first form was either incorrect or lacking information.
- If you’ve received a second Form 1095-A and the “CORRECTED” box is checked, generally this means that your previous Form 1095-A contains errors. Here’s what to do so that the corrected form won’t affect your tax return:
- Use the second Form 1095-A when completing your tax return, if you have not filed yet.
- If you have filed your tax return, compare the “corrected” Form 1095-A to the original one to determine if you need to make any changes and amend your tax return.
- If you’ve received incorrect information on the “corrected” Form 1095-A, you should contact the Marketplace as soon as possible so they can send you an accurate Form 1095-A.
Listed below are the changes you could see on your “corrected” Form 1095-A that will likely affect your tax return and help you determine if you need to amend your return:
- The total number of individuals covered in Part II
- Your monthly premiums in Part III
- Amount of your second lowest cost Silver plan premium in Part III
- Advance payments of the PTC in Part III
- The total number of months you had health coverage in Part III
Here are some changes you could see on your “corrected” Form 1095-A that will not affect your tax return:
- Identifying information in Part I such as your name and social security number
- Identifying information in Part II of the individuals covered in your health plan
- If you’ve received a second Form 1095-A and the “VOID” box is checked, generally it means that Form 1095-A was issued in error. This usually happens if you have not completed the enrollment process in the Marketplace for health coverage. Here’s what to do if you’ve received the voided form:
- If you have already filed a tax return and claimed the PTC using the original Form 1095-A, you should file an amended return.
- Do not use any of the information on the voided form or the original form received to claim a PTC if you have not yet filed a tax return.
- If you believe that they should not have voided your form and you have purchased a plan via the Marketplace, contact the Marketplace immediately so that they can send you an accurate form.
To consult with a professional Liberty Tax® ACA Advisor at your local Liberty Tax® office, contact 800-673-8600 or visit www.healthcaretaxinfo.com
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