Federal

Form 1095 A – Premium Tax Credit

Form 1096-A, Health Insurance Marketplace Statement is issued to those who had Marketplace coverage during the tax year. Once furnished to an individual, Form 1095-A can be used for filing a tax return, to claim the premium tax credit, or to reconcile the credit on a tax return with advance payments of the premium tax credit.Although not everyone will need this tax form, families and individuals with low income will use it to claim the premium tax credit.What is premium tax credit?The premium tax credit is a refundable tax credit to help those with low income to afford health insurance through the Health Insurance Marketplace. To qualify for this tax credit, the household income must be no more than 400% of the federal poverty line for the size of the household but it also m...

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