Renewing Marketplace Coverage

I got a premium tax credit for 2024, but I usually don’t file a tax return and didn’t realize I was supposed to file a 2023 return this year. Will that affect my ability to renew coverage and premium tax credits for next year?  

The general rule is that you are required to file a federal income tax return for any tax year in which you received Advanced Premium Tax Credits (APTC) in the Marketplace.  You are also required to file Form 8962 with your tax return to “reconcile” the amount of APTC you received with your actual income for the tax year.  See here for more information.

Consumers that do not file their taxes and reconcile any of their advance premium tax credits for two consecutive years will not be eligible for advance premium tax credits in the future.  

Therefore, you should file your federal income tax return for 2023 as soon as possible. Then log into your Marketplace account, update your application information, and tell the Marketplace that you have filed your taxes by attesting to that question on the application.  Keep in mind that the Marketplace will check with the IRS during the coverage year to verify your return was filed.

While we have made every effort to provide accurate information in these FAQs, people should contact the health insurance Marketplace or Medicaid agency in their state for guidance on their specific circumstances.

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