Why Filing Your Taxes Matters for Marketplace Health Insurance

Last week, April 15th marked the tax filing deadline (unless you filed an extension). This week, I want to talk about something incredibly important if you have marketplace health insurance:

Your taxes — and your 1095-A form.

What Is the 1095-A Form?

If you have marketplace health insurance through HealthCare.gov, you should receive a 1095-A form.

This form shows:

• Your monthly premiums

• Any advance tax credits you received

• The information needed to reconcile your coverage with the IRS

You must include this form when filing your taxes.

What Happens If You Don’t Include It?

If you file your taxes without your 1095-A:

• Your tax return will likely be rejected

• You may experience delays

• You’ll have to refile with the correct information

I’ve seen many people submit their taxes, not realize they missed this form, and then have to go back and fix everything.

Why Filing Your Taxes Is Required

If you have marketplace coverage, filing your taxes is not optional — it’s a requirement.

Even if:

• You did not receive a tax credit

• You don’t owe taxes

• You filed an extension

You still need to file.

The Risk: Losing Your Tax Credit

Here’s where it gets serious.

If you don’t file your taxes, you can lose your premium tax credit eligibility.

That means:

• Your monthly premiums could increase significantly

• You may have to pay full price for your plan

This is something we absolutely want to avoid.

Why Timing Matters (Especially With Extensions)

If you filed a tax extension, your deadline is typically October 15.

But waiting that long can create problems.

Here’s why:

• The IRS system needs time to process your return

• Marketplace systems rely on IRS data

• Open enrollment starts November 1

If your taxes aren’t processed in time, the system may not show that you filed — even if you did.

That can lead to:

• Requests for additional documentation

• Delays in enrollment

• Potential issues with your tax credit eligibility

What If You Owe Taxes?

Even if you owe money, you should still file your taxes.

You can:

• Set up a payment plan with the Internal Revenue Service

• Pay over time

But filing your return ensures your information is recorded and prevents complications with your health insurance.

Can’t Find Your 1095-A?

No problem.

You can:

• Check your HealthCare.gov account

• Or reach out to your broker (like me), and I can help retrieve it

Final Thoughts

This is one of the most overlooked steps in maintaining your marketplace health insurance.

To protect your coverage and your tax credits:

• File your taxes on time

• Include your 1095-A form

• Don’t wait until the last minute

These small steps can prevent major headaches during open enrollment.

If you need help locating your form or have questions about how this impacts your coverage, feel free to reach out.