Many New Yorkers received help paying for their health plan through the New York State of Health! In fact, nearly 75% of people who enrolled in a health plan through the Marketplace were eligible for financial assistance to lower their monthly premium costs. If you or someone in your household purchased a platinum, gold, silver or bronze plan through the Marketplace and received Advanced Premium Tax Credits during the year you need to report these credits on your federal income tax return. To help you do this New York State of Health will mail you an important tax document called Form 1095-A. You also can access your form in your secure inbox in your New York State of Health account. Form 1095-A contains information about the qualified health plan(s) you and members of your household were enrolled in, the month(s) you were enrolled and the amount of Advanced Premium Tax Credit everyone in your household used to lower their monthly premium during the year. The amount of Advanced Premium Tax Credit was based on your estimated income at the time you applied for coverage through New York State of Health. This estimate may be different than your actual income when you file your federal tax return. You will use the information on your form 1095-A to complete Form 8962, which will tell you if you need to adjust the amount of tax credits upward or downward. Even if you did not apply for, or did not use tax credits to lower your premium during the year, you may still be eligible to claim a tax credit on your federal tax return. Form 1095-A includes the information you will need to claim this credit.
If you have questions about the information contained in form 1095-A, visit the New York State of Health website: https://nystateofhealth.ny.gov/ or call New York State of Health at 1–855-355-5777.
If you need help completing Form 8962 or have other questions about tax filing, consult with your tax preparer or visit the IRS website: http://www.irs.gov/