What is Form 1095-A?

Form 1095-A refers to the Health Insurance Marketplace Statement. It is provided by the Health Insurance Marketplace (either Healthcare.gov or the equivalent state-based exchange) to all enrolled individuals.

Most employees participating in a HRASimple-administered ICHRA will receive a 1095-A. Exceptions include individuals enrolled in a health insurance plan not connected with the Health Insurance Marketplace ("off-exchange plan"). 

Employees should expect to receive their 1095-A in late January - early February of each year. HRASimple will provide instructions on how to access their form. It is typically submitted as part of the individual's tax return. Employees should consult a tax professional should they need additional guidance.

Form 1095-A is primarily applies to self-employed individuals or individuals who do not receive employer-sponsored benefits. It is used to reconcile Advanced Premium Tax Credits (individuals receiving premium subsidies from the government) or claim the Premium Tax Credit. Any employee participating in any group health insurance plan (including an ICHRA) is not eligible for either the Advanced Premium Tax Credit or the Premium Tax Credit. 

 

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