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8965 for tax year 2024 Form: What You Should Know

You may be required to furnish Form 8965 and associated supporting documentation to the Marketplace in response to your request for premium tax credits. Complete the form if you have a Marketplace-granted coverage exemption from the IRS or you are claiming a coverage exemption on your return. Part II Marketplace-Granted Exemption If you have a Marketplace-granted exemption from the IRS, the Marketplace will file a Notice of Premium Tax Credit or penalty refund to you. Learn more about the penalty for not having coverage for 2024 | Healthcare.gov For information about what to do if you have questions related to your Marketplace coverage exemption or a notice of premium tax credit, read our FAQs or call toll-free (TTY) or (voice). Form 8968—Health Coverage Exemptions For individuals who have health coverage that did not meet the requirements in law for minimum value coverage, a separate form is required to designate a health care provider as the “reasonable cost” health care provider. You'll need to report this information on your tax return. Learn what to do if you have questions related to Form 8968 | healthcare.gov If you have a Marketplace-granted coverage exemption, the Marketplace will report to you the amount you paid for the coverage on forms 8968 and 8969. Complete the form if you have a Marketplace-granted coverage exemption from the IRS or you are claiming a coverage exemption on your return. Step-by-Step Guide to Designating a Health Care Provider for the  Minimum Value  Exemption If you did not have health coverage that met the minimum value criteria, use the Form 8968 to designate a health care provider for your coverage exemption. You will need to report this information on forms 8968 and 8969. Learn more about what to do if you have questions related to Form 8968 | healthcare.gov You must make annual payments to a Health Reform Fee-Forgiver to pay for your premium tax credits. These fees are not tax. They are set by law. Learn more about Health Reform Fee-Forgivers and how they're reimbursed for Marketplace coverage exemption.

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