Question

Hello. I owe money because of my 1095a. I got employer insurance. Why do I owe money if I called my state insurer to cancel my plan? Should I have contacted the irs too?

Forum|Forum|1 year ago
February 27, 2025
1 reply
0 views

Researching this online led me to learn that I should have contacted the marketplace to update them on my insurance changes, but didn't I do that when I canceled my subsidized insurance before taking my employer insurance? Should I have contacted someone else too?

JohnB5677

Please confirm that you do not have any open accounts in the Marketplace.

No, you do not need to contact the IRS.

You can use the phone number by state at The Health Insurance Marketplace.
The list is half way down on the page.
To clear a 1095-A in TurboTax, you can follow these steps

It may be that you had it in the past and it carried over.

To clear a 1095-A in TurboTax, you can follow these steps

Select Tax Tools
On the drop-down select Tools
There will be 4 green boxes
Select Topics Search
Type 1095-A
The question will come up Did you receive Form 1095-A for your health insurance plan?
Answer Yes
Continue to the form
Delete it using the trash can
Repeat the process
When you get to Did you receive Form 1095-A for your health insurance plan?
Answer No

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

P

Producer388Author

live in Massachusetts and the health connector is who I contacted to cancel my insurance plan before getting employer insurance. I do not have a plan with them anymore and confirmed it when I logged in to their website yesterday to get my 1095a. I owe money on my taxes because of my 1095a. Why is this if I canceled my state insurance?

V

Vanessa A

When did you cancel the plan? If you had insurance through the Health Connector and received an Advanced Premium Tax Credit, during the time you had insurance, it is possible that you would have to fully repay all of the credit when you file your taxes due to your income for the entire year being more than you estimated it to be when you signed up for the insurance. So even if you only had insurance for January and February, if your income for the year says you didn't qualify for the Advanced Credit, then you would have to pay it back which would cause you to owe the IRS.

When you enroll in a Marketplace plan you are asked for your estimated income for the year. This is what they base your Advanced Premium Tax Credit off of. If your household income is more than 400% of the Federal Poverty Level, then you will be required to repay the entire amount of premiums that you received in advanced that you were not eligible for. If your household income is less than 400% of the Federal poverty level, then you may have to pay back some but not necessarily all of the credit you were not eligible for that you received.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"