Affordable Care Act Tax Provisions for Individuals and Families


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Reconcile Advance Payments of the Premium Tax Credit
You must file a tax return to reconcile any advance payments of the premium tax credit that were paid on your behalf and to maintain your eligibility for future premium assistance. If you do not file, you will not be eligible for future advance credit payments
The Affordable Care Act includes the individual shared responsibility provision and the premium tax credit that may affect your tax return. The individual shared responsibility provision requires you, your spouse, and your dependents to have qualifying health insurance for the entire year, report a health coverage exemption, or make a payment when you file.  In addition, you may be eligible for the premium tax credit if you purchased health coverage through the Health Insurance Marketplace.
Reporting Coverage: Most taxpayers already have qualifying health care coverage, and will simply check a box on their tax return.
Coverage Exemption: Some taxpayers are exempt from the requirement to have coverage and will not need to make a shared responsibility payment.
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