Premium Tax Credit: Act Now to Keep Getting Advance Payments Your premium tax credit advance payments may be affected by IRS processing delays due to COVID-19. To keep getting advance payments of the premium tax credit in 2021, self-attest now that you have filed a tax return to reconcile prior advance payments. To self-attest, log on to your marketplace account and follow instructions there. Special Enrollment Period Through August 15, 2021 Through August 15, 2021, there is a special enrollment period for health insurance through HealthCare.gov. If you don’t have health insurance, you may enroll in coverage from the Health Insurance Marketplace during this period. If you or your family members enroll in coverage from the Health Insurance Marketplace, you may be eligible for advance payments of the premium tax credit to help pay your premiums. Find out more at HealthCare.gov. 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. In addition, you may be eligible for the premium tax credit if you purchased health coverage through the Health Insurance Marketplace. Filing Season 2020 Under the Tax Cuts and Jobs Act, passed December 22, 2017, the amount of the individual shared responsibility payment is reduced to zero for months beginning after December 31, 2018. Beginning in tax year 2019, Form 1040 and Form 1040-SR will not have the "full-year health care coverage or exempt" box and Form 8965, Health Coverage Exemptions, will no longer be used. You need not make a shared responsibility payment or file Form 8965, Health Coverage Exemptions, with your tax return if you don't have minimum essential coverage for part or all of the year. Claiming and Reconciling Premium Tax Credit If you purchased coverage through the Health Insurance Marketplace, you may be eligible for the premium tax credit. Find out if you are eligible for the credit. Claim and reconcile the credit on Form 8962. Report changes in circumstances. Related Links HealthCare.gov Individual Shared Responsibility Provision The Premium Tax Credit - The Basics Affordable Care Act - What to expect when filing your tax return Gathering Your Health Coverage Documentation for the Tax Filing Season Health Care Law and You Health Care Law and Your Tax Return ACA Information Center for Tax Professionals Publication 5187, Affordable Care Act: What you and Your Family Need to Know
