If you or anyone you know received subsidized insurance in 2014 through healthcare.gov, it’s important that you keep an eye out for Form 1095-A which should be arriving in the mail. It’s like a W-2, but for people who received health insurance tax credits under the Affordable Care Act.
It’s called 1095-A and the forms come pre-filled with information from HealthCare.gov listing who in the household received subsidized coverage and how much the government paid each month to reduce their premiums.
The form doesn’t get filed with your tax return, but you cannot complete your return without the information contained in it. The taxpayer, or the taxpayer’s accountant, will use the financial details to fill out another form: 8962. That one is used to determine whether you received the right amount of assistance that you were legally entitled to.
If you received too much of a subsidy, you will get your tax refund reduced by IRS, e. g. if your income went up during the year and you didn’t realize you had to report that to HealthCare.gov. If you received less of a subsidy than you were entitled to, IRS will owe you instead.
If you believe the information on your 1095-A is incorrect, you have to contact HealthCare.gov. If you have filed Form 1040EZ in the past, you won’t be able to do that any longer if you received subsidized health care.