Health Insurance
6 articles
Articles in Health Insurance
Form 1095-A – Health Insurance Marketplace Statement
If any individual on the tax return (taxpayer, spouse or dependent) was covered by a Health Insurance Marketplace plan, they will receive a Form 1095-A, Health Insurance Marketplace Statement .
Form 8962 - Alternative Calculation Methods
Form 8962, Premium Tax Credit (PTC), contains two parts that may need to be completed in certain situations.
Form 8962 - Shared Policy Allocation
A taxpayer who has received Form 1095-A , Health Insurance Marketplace Statement must file Form 8962, Net Premium Tax Credit with their tax return, reconciling the amount of premium tax credit they received in advance with the amount they are allowed.
Form 8962 - Alternative Calculation for Year of Marriage
Advance Premium Tax Credit (APTC) received in excess of what the taxpayer is allowed generally needs to be repaid.
Form 8962 - How to add a statement regarding marketplace insurance
In Tax Processors Plus Online, the option to include an ACA explanation is available in a tax return that has rejected for code F8962-070.
Suspension of Repayment of Advanced Premium Tax Credit in 2020
The American Rescue Plan Act of 2021 suspended the requirement to repay excess advance payments of the Premium Tax Credit (excess APTC) for tax year 2020.