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ACA premium tax credits require 2017 tax filing

The Idaho and Washington health exchanges are reminding area residents who have not yet filed a federal tax return to do so by the Tax Day deadline or risk losing access to future tax credits.

Customers who enrolled in a Qualified Health Plan with tax credits during 2017 are required to file a federal return with the Internal Revenue Service by Tuesday, April 18 to reconcile the amount of financial help they received.

Here are the necessary steps related to your health coverage and taxes:

  1. Use your 1095-A to complete your taxes. When you file your taxes, use the information from your 1095-A to complete IRS Form 8962: Premium Tax Credit.
  2. To keep your tax credits, you must file your taxes. If you had tax credits in a prior year, you must file your taxes correctly to be eligible for tax credits in the future - even if your income is below the tax filing threshold.
  3. A deadline extension could impact your tax credits. If you file an extension on your taxes, your premium tax credits might be denied or delayed next year.
  4. Make sure your taxes were filed correctly. If you use a tax professional to prepare your taxes, bring them your 1095-A, and double-check that they include Form 8962 with your tax return. To get your 1095-A:

Still need help?

  1. Contact your health agent at Medical [at] am-ins [dot] com or (208) 746-9646 or request an appointment online here.
  2. Idaho – Visit YHI 1095-A FAQ page at https://www.yourhealthidaho.org/enrollment-resources/tax-information/
  3. Washington - Visit WaHPF 1095-A and 1095-B FAQ page at https://www.wahbexchange.org/current-customers/your-1095-a-statement/1095-a-faqs/
  4. Still need help? Visit the IRS website.

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