Coming your way
Your 1095-A tax form
If you received financial assistance to help lower your monthly health coverage premiums in 2023 through Pennie, you must file a federal tax return. Pennie will mail or send all forms by January 31st – you will need this form when you fill out your 2023 taxes.
Pennie gets you covered.
If you received advance premium tax credits (APTC) to help lower your monthly premium payment, you MUST file a federal tax return and complete Form 8962: Premium Tax Credit to reconcile the APTC you received during the year with the final amount you were eligible to receive based on your actual household income. (Form 8962 is available from the IRS at https://www.irs.gov/affordable-care-act or from your tax preparer.)
Frequently asked questions
What if my 1095-A has incorrect information?
It is important to understand that the 1095-A will reflect your enrollment information from 2023, and if there is an error, it may take time to coordinate with your health plan to ensure your enrollment history is correct. Please contact us as rapidly as possible to share what you feel is incorrect, as it may take up to 30 days to complete research and correction. The Pennie Call Center can be reached at 1-844-844-8040.
What if I didn’t receive advance tax credits?
If you enrolled in coverage through Pennie but did not receive advance premium tax credits, you may complete Form 8962 to determine if you are eligible to receive a premium tax credit. The law allows you to take the tax credit in advance or when you file your federal taxes–it’s your choice. You can also choose to take part of the credit in advance and receive any balance when you file your taxes.
What if I received a larger amount of tax credits than I should have, but I can’t pay it back?
If you received too much in advance tax credit, the law limits the maximum payback for most people. The amount you must pay back to the IRS is based on your final income—the lower your income, the lower the amount of the payback. When you complete Form 8962, you will find out if a maximum payback amount applies to you. If you are entitled to a larger tax credit than you received in advance, you will receive the full amount as part of your refund.
The maximum payback amounts help protect you from incorrect estimates, changing circumstances, and mistakes. If you do find that you owe money this year, Pennie can work with you now to help avoid this happening again next year. You can call us at 1-844-844-8040 to learn more.
What if I received tax credits but don’t file a return?
Pennie reports all tax credits to the IRS. Failure to file is a very serious matter and may impact your eligibility to receive tax credit in the following year.
Do I need Form 1095-B if I had Medicaid coverage in 2023?
Yes. Form 1095-B, for healthcare coverage provided for one or more family members in the Medicaid program will be mailed out for tax year 2023 as you need it to complete your state tax return.
How to Get Help: IRS and Tax Preparers
The IRS has developed helpful information on how the Affordable Care Act (ACA) may impact your federal tax return. Please visit www.irs.gov/aca for an extensive list of questions and answers and other resources you may find useful. You can also call the IRS at 1-800-829-1040.
Sign up for important news and updates from Pennie
Your contact information will be kept private and confidential.