Saturday, April 16, 2016

Don’t Confuse Health Care Forms



With the tax filing deadline approaching, remember that the Affordable Care Act contains tax provisions that affect your 2015 income tax return. Taxpayers who are claiming or reconciling the premium tax credit, or claiming an exemption from the requirement to have health coverage must complete IRS forms related to the health care law. Because the form numbers are similar, it’s important that you use the correct form for your circumstance.


  • If anyone on your tax return – yourself, your spouse or any dependent - enrolled in coverage through the Health Insurance Marketplace during 2015, you must file Form 8962, Premium Tax Credit (PTC), with your tax return to claim the premium tax credit and to reconcile any advance payments made on your behalf in 2015.

  • If you are claiming an exemption from the requirement to have health care coverage, you will file Form 8965, Health Coverage Exemptions.

Depending upon your personal circumstances, you may not have to use either of these forms. On the other hand, you may have to use one or both of them. You can file these forms electronically with your tax return.

You file Form 8962 only if you or someone on your tax return enrolled in health coverage for 2015 through the health insurance marketplace. You must file this form to reconcile any advance payments of the premium tax credit or to claim this credit on your federal income tax return.

You file Form 8965 only if you or someone on your tax return did not maintain health coverage for each month in 2015 and qualify for an exemption from the requirement to have health coverage. If anyone on your return did not have coverage and does not qualify for a coverage exemption, you must make a shared responsibility payment. You can use the worksheets located in the instructions to Form 8965 to figure the payment amount.

Remember, filing electronically is the easiest way to file a complete and accurate tax return. The software guides taxpayers through the process. Electronic filing options include: free Volunteer Assistance, IRS Free File, commercial software, and professional assistance.

If you are uncertain whether you need to file these forms, you can use the Interactive Tax Assistant tool to help determine if you are eligible for the premium tax credit or if you are eligible for an exemption from the requirement to have health coverage.

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