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Form 1095-A for Allentown Pennsylvania: What You Should Know
The form provides an accurate and up-to-date statement of the tax consequences of getting through the Marketplace. For individuals who enroll in a Marketplace plan under the age of 26, Form 1095-A provides information about the individual's share of the premium for the plan as well as the individual's share of the cost to cover essential health benefits, including: • The total amount of the premium tax credit (or cost-sharing assistance, if you are paying with advance payment of the premium credit) that would be paid to the insured if the individual were a non-marketplace eligible individual, and you were the insured instead. • The annual premium tax credit (or cost-sharing assistance, if you are paying with advance payment of the premium credit) for the lowest priced (and lowest cost) bronze plan on the marketplace. • The income-based premium tax credit amount (if any), the employer contribution for a health insurance plan, and any employer-paid deductibles or co-payments. • The premium tax credit paid for any year of coverage for which no premium was paid under the Marketplace plan. • The annual premium tax credit paid for any year that a qualified health plan was canceled by the insured—and the amount of the amount of the premium tax credit that would have applied had the individual not been denied coverage or had insurance coverage for the cancelled coverage continue for the 2024 year, and for any subsequent year. • The annual premium tax credit (and cost-sharing assistance, if you are paying with advance payment of the premium credit) that would have been paid to the insured if the individual were not an eligible individual, and you were the insured instead. • The premiums for any month under the Marketplace eligible individual's Marketplace plan for which the insured paid a premium tax credit. You should fill out the form within 30 days of beginning to receive Marketplace premium tax credits. The form can be completed and mailed or faxed to Healthcare.gov or used for electronic filing (via any of Healthcare.gov's authorized providers). What to include in Form 1095-A Form 1095-A for 2024 coverage is available online now. A completed Form 1095-A is required when you become eligible for the premium tax credits through the Health Insurance Marketplace. For more information about the premium tax credit and the Form 1095-A requirement, click here. Form 1095-A Overview The form is used to report a share of tax consequences of enrolling in and being covered by an eligible health plan through the Health Insurance Marketplace.
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