If you have health insurance coverage through a marketplace plan and were eligible for a tax credit used to reduce the cost of your monthly premiums, you need to be aware of important information regarding tax reporting requirements under the Affordable Care Act.

In order to keep a premium tax credit or income-based cost sharing reduction, you must file Form 8962 as part of your federal tax return.  If you did not file Form 8962, you will need to or you may not be able to receive a premium tax credit for a 2016 plan and would then be responsible for paying the full cost for a marketplace health insurance plan.  You also need to file Form 1095-A, which the Marketplace should have mailed to you earlier this year.

Form 1095-A can be downloaded from your marketplace account at www.healthcare.gov. Or if you had originally applied for coverage by phone, you can contact the Marketplace Call Center to request a copy of the form at: (800) 318-2596.

For more information, call us at 1-941-405-3900.

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