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NY Form 1095-A: What You Should Know

Frequently Asked Questions about Form 1095-A 1. Why did I The Form 1095-A is only issued for Qualified Health Plans purchased through NY State of Health at the Bronze, Silver, Gold and Platinum levels? How to Use Form 1095-A, Health Insurance Marketplace Your 1095-A includes information about Marketplace plans anyone in your household had in 2021. It covers your 2023 and prior years. Keep your 1095-As  Marketplace plan with no premium tax credits — Healthcare.gov 2. What does the form 1095-A mean? The Form 1095-A is for individuals who did not receive a tax subsidy for their health expenses or have an advance-paid advance of Premium Tax Credits. The Form 1095-A can help you determine if you qualify for a premium tax credit or if your insurance coverage was not sufficient to pay for your premiums. 3. What are advance premium tax credits? The Form 1095-A uses advance premiums paid by the plan for coverage in your plan year to calculate your premium tax credit. The advance premium tax credit amount increases each year with the inflation rate; it is based on your income and family size. For 2023 and beyond, the advance premium tax credit ranges The Form 1095-A uses advance premiums paid by the plan for coverage in your plan year to calculate your premium tax credit. The advance premium tax credit amount increases each year with the inflation rate; it is based on your income and family size. For 2023 and beyond, the advance premium tax credit ranges from 6.2% to 9.35% of the premium cost. 4. Is all of my income taxed or only some? You can estimate the amount of your Advance Premium Tax Credit based on your total income. The advance premium tax credit amount increases each year because the tax credit is not adjusted for inflation. However, if you itemize your deductions, you may be able to take advantage of a reduced amount. 5. Do I need to complete the form? Yes! You must complete the form as soon as you get it. If you need more information regarding the form, visit Healthcare.gov. The form is available at or call. The form will be sent to the address provided during the order process. 6.

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