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Video instructions and help with filling out and completing Fill Form 1094 B Credits

Instructions and Help about Fill Form 1094 B Credits

Music: Many New Yorkers received help paying for their health plans through the New York State of Health. In fact, nearly 75% of people who enrolled in a health plan through the marketplace were eligible for financial assistance to lower their monthly premium costs. - If you or someone in your household purchased a platinum, gold, silver, or bronze plan through the marketplace and received advanced premium tax credits during the year, you need to report these credits on your federal income tax return. - To help you with this process, New York State of Health will mail you an important tax document called Form 1095-A. You can also access this form in your secure New York State of Health account. - Form 1095-A contains information about the qualified health plans you and members of your household were enrolled in each month, as well as the amount of advance premium tax credit everyone in your household used to lower their monthly premiums throughout the year. - It's important to note that the amount of advance premium tax credit was based on your estimated income at the time you applied for coverage through New York State of Health. This amount may be different than your actual income when you file your federal tax return. - To determine if you need to adjust the amount of tax credits upward or downward, you will use the information on your Form 1095-A to complete Form 8962. - Even if you did not apply for or use tax credits to lower your premium during the year, you may still be eligible to claim a tax credit on your federal tax return. Form 1095-A includes the information you will need to claim this credit. - If you have any questions about the information contained in Form 1095-A, you can visit the New York...