Customers who have a health insurance plan through Get Covered Illinois and used an Advanced Premium Tax Credit (APTC) to lower their monthly payment will have to "reconcile" when they file their federal taxes. This means they will compare two figures:
- The amount of premium tax credit used in advance during the year; and
- The premium tax credit they actually qualify for based on the final income for the year.
Any difference between the two figures may affect their refund or tax owed when they file their taxes the following year.
Customers should receive their Form 1095-A in the mail, and electronically in their Get Covered Illinois account by February 1. If you do not receive the form, or it is incorrect, you can contact Get Covered Illinois Customer Service at 1-866-311-1119.
Customers will use Form 1095-A to complete Part II of Form 8962 on your taxes.
The IRS has developed helpful information on how the Affordable Care Act (ACA) may impact customers’ federal tax return. Customers can visit www.irs.gov/aca for a list of questions, answers and other resources. The IRS can also be reached at 1-800-829-1040.