Filing and Reconciling Your Advance Premium Tax Credits

Filing and Reconciling Your Advance Premium Tax Credits

If anyone in your household enrolled in a Virginia’s Insurance Marketplace health plan this year and received advance premium tax credits (APTCs) to lower monthly premium payments, you are required by federal law to "reconcile" when filing your federal taxes. For 2024 and ongoing, the Marketplace will provide you with a Form 1095-A to complete this process. If you do not reconcile your taxes for two consecutive years, you will be ineligible to receive future APTCs.

You Must Have Your Form 1095-A Before You File Taxes

The 1095-A includes information about Marketplace coverage individuals in your household had for the previous year.

  • 1095-A Forms come from the Marketplace, not the IRS.
  • Keep your 1095-A forms with your important tax information, like W-2 forms and other records.

How to Find Your 1095-A

  • Get your Form 1095-A from enroll.marketplace.virginia.gov (For those who have requested to receive their 1095-A through postal mail, Virginia's Insurance Marketplace will send your 1095-A by mail as well). 
  • Virginia's Insurance Marketplace sent the 1095-A by January 31st.

Note: If you can't find your 1095-A in your Marketplace account, contact the Marketplace Call Center.

What’s on Form 1095-A and Why You Need It

Form 1095-A includes information about Marketplace coverage any member of your household had during the previous year, including:

  • Premiums paid.
  • Premium tax credits used.
  • A standard figure called “second lowest cost Silver plan” (SLCSP), used to assist in calculating the tax credits you qualify for.

You’ll use information from your 1095-A to fill out tax Form 8962, Premium Tax Credit. This is how you "reconcile" your tax credit— this process determines if there's any difference between the premium tax credit you used in the previous year and the amount you qualify for.

Your Form 1095-A may also indicate that you had Marketplace coverage but didn't use the premium tax credit.

Check That Your 1095-A is Correct

  • Carefully read the instructions on the back.
  • If anything about your coverage or household is inaccurate, contact the Marketplace Call Center. 
  • Make sure the amount listed for the “second lowest cost Silver Plan” (SLCSP) is correct.

How to Know If Your Second Lowest Cost Silver Plan Information is Correct

Look at Part III, column B of your 1095-A, titled “Monthly second lowest cost silver plan (SLCSP) premium.” It should show figures for each month any household member had the Marketplace plan.

The SLCSP premium may be incorrect if:

  • Part III, Column B has a “0” or is blank for any month someone in your household had the Marketplace plan.
  • You had changes in your household that you didn’t tell the Marketplace about — like having a baby, moving, getting married or divorced, or losing a dependent.

If either applies to you, use our tax tool to get the premium for your second lowest cost Silver plan, or contact a tax professional for assistance.  

Use the Information from Your 1095-A to Reconcile

Once you have an accurate 1095-A and second lowest cost Silver plan premium, you’re ready to fill out Form 8962, Premium Tax Credit.

Note: If you receive a voided/corrected 1095 and have already filed your taxes, you may need to file an amended return. Consult a tax professional for assistance. 

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