The Affordable Care Act includes the individual shared responsibility provision and the premium tax credit that may affect your 2023 Tax Return.

If you purchased health coverage through the Health Insurance Marketplace during 2023, you are still required to include or reconcile your 1095-A form with your 2023 tax return.

Premium Tax Credit!

The Affordable Care Act provides a tax credit to help you afford health coverage purchased through the Marketplace. Advance payments of the tax credit can be used right away to lower your monthly premium costs. If you qualify, you may choose how much advance credit payments to apply to your premiums each month, up to a maximum amount. If the amount of advance credit payments you get for the year is less than the tax credit you're due, you'll get the difference as a refundable credit when you file your federal income tax return. If your advance payments for the year are more than the amount of your credit, you must repay the excess advance payments with your tax return.

Don't have health coverage?

The Health Insurance Marketplace is the place where people without healthcare insurance can find information about health insurance options and also purchase health care insurance. Find out how to contact the federal marketplace as well as the state-based marketplaces.

If you do not have qualifying coverage or an exemption for each month of the year, you will need to make a payment with your return.

• Determine if you need to make a payment.
• Reporting and Calculating your payment.
• Use this IRS tool to estimate your individual responsibility payment.